In addition to the provisions of § 4a-60, each contractor with fifty or more employees awarded a public works contract, municipal public works contract or contract for a quasi-public agency project in excess of fifty thousand dollars in any fiscal year, but not subject to the provisions of § 46a-68d, shall develop and file with the Commission on Human Rights and Opportunities an affirmative action plan which shall comply with regulations adopted by the commission. The executive director or the executive director’s designee shall review and formally approve, conditionally approve or disapprove the content of the affirmative action plan not later than one hundred twenty days following the date of the submission of the plan to the commission. If the executive director or the executive director’s designee fails to approve, conditionally approve or disapprove a plan within such one-hundred-twenty-day period, the plan shall be deemed to be either approved or deficient without consequence. The executive director or the executive director’s designee shall, not later than fifteen days after the date of deeming an affirmative action plan approved or deficient without consequence, provide the contractor with written notification of the action taken with respect to such plan. Failure to develop an affirmative action plan that is either approved or deficient without consequence shall act as a bar to bidding on or the award of future contracts until such requirement has been met. When the executive director or the executive director’s designee approves an affirmative action plan pursuant to this section, the executive director or the executive director’s designee shall issue a certificate of compliance to the contractor. Such certificate shall be prima facie proof of the contractor’s eligibility to bid or be awarded contracts for a period of two years from the date of the certificate. Such certificate shall not excuse the contractor from monitoring by the commission or from the reporting and record-keeping requirements of sections 46a-68e and 46a-68f. The executive director or the executive director’s designee may revoke the certificate of a contractor if the contractor does not implement its affirmative action plan in compliance with this section and sections 4a-60, 4a-60g, 4a-62, 46a-56, 46a-68b, 46a-68d, and 46a-68e to 46a-68k, inclusive.