Conn. Gen. Stat. § 32-7g — Connecticut Code / Title 32 / Chapter 578 / Section 32-7g
Sec. 32-7g. Small Business Express program.
Status: in_force

(b) The Small Business Express program shall consist of various components, including (1) a revolving loan fund, as described in subsection (c) of this section, to support small business growth, (2) at least one minority business revolving loan fund, as described in subsection (d) of this section, to support the growth of minority-owned businesses, (3) a component established in consultation with representatives from Connecticut-based banks and a banking industry association, as described in subsection (e) of this section, and (4) a component established in consultation with Connecticut Innovations, Incorporated, as described in subsection (f) of this section. Notwithstanding the provisions of section 32-5a regarding relocation limits, the department may require, as a condition of receiving financial assistance pursuant to this section, that a small business receiving such assistance shall not relocate, as defined in section 32-5a , for five years after receiving such assistance or during the term of the loan, whichever is longer. All other conditions and penalties imposed pursuant to section 32-5a shall continue to apply to such small business.

(c) There is established as part of the Small Business Express program a revolving loan fund to provide loans, loan guarantees, loan portfolio guarantees, portfolio insurance and grants.

(d) (1) There is established as part of the Small Business Express program at least one revolving loan fund to provide loans to eligible small businesses that are owned by one or more members of a minority. As used in this subsection, (A) “minority business development entity” means a nonprofit organization (i) having a lending portfolio on or before June 9, 2016, from which at least seventy-five per cent of lending is provided to minority-owned businesses state-wide; and (ii) that provided technical assistance on or before June 9, 2016, provided at least seventy-five per cent of such assistance was provided to minority-owned businesses state-wide; and (B) “minority” means (i) Black Americans, including all persons having origins in any of the Black African racial groups not of Hispanic origin; (ii) Hispanic Americans, including all persons of Mexican, Puerto Rican, Cuban, Central or South American, or other Spanish culture or origin, regardless of race; (iii) all persons having origins in the Iberian Peninsula, including Portugal, regardless of race; (iv) women; (v) Asian Pacific Americans and Pacific islanders; or (vi) American Indians and persons having origins in any of the original peoples of North America and maintaining identifiable tribal affiliations through membership and participation or community identification.

(2) Notwithstanding the provisions of section 32-7h , the commissioner shall allocate from the available funding under the Small Business Express program a total of five million dollars for grants-in-aid to not more than two minority business development entities in each of the fiscal years ending June 30, 2016, to June 30, 2020, inclusive, for the purpose of establishing and administering minority business revolving loan funds. Moneys from such funds shall be used to (A) provide loans to eligible small businesses, and (B) fund the administrative costs associated with the provision of such loans by a minority business development entity, provided a minority business development entity may not use more than ten per cent of the amount received as a grant under this section to fund such costs. Such loans shall be used for acquisition or purchase of machinery and equipment, construction or leasehold improvements, relocation expenses, working capital, which may be used for payment of rent, or other business-related expenses, as authorized by the minority business development entity.

(3) Loans from a minority business revolving loan fund may be in amounts from ten thousand dollars to a maximum of five hundred thousand dollars, shall carry a maximum repayment rate of four per cent and shall be for a term of not more than ten years. The minority business development entity shall review and approve loan terms, conditions and collateral requirements in a manner that prioritizes job growth and retention.

(4) Any eligible small business owned by one or more members of a minority may apply for assistance from a minority business revolving loan fund, provided the minority business development entity shall give priority to applicants that, as part of their business plan, are creating new jobs that will be maintained for not less than twelve consecutive months.

(5) Loans from a minority business revolving fund shall be provided in such a manner that, on or before five years after the date such loan fund is established, the annual funds or revenues derived from investment income, loan repayments or any other sources received by the minority business development entity in connection with such loan fund is sufficient to fund the administrative costs associated with such loan fund.

(6) A minority business development entity receiving a grant pursuant to this subsection shall annually submit to the commissioner a financial audit of grant expenditures until all grant moneys have been expended by such entity. Any such audit shall be prepared by an independent auditor and if the commissioner finds that any such grant is used for purposes that are not in conformity with uses set forth in subdivisions (2) and (3) of this subsection, the commissioner may require repayment of such grant.

(e) The commissioner, in consultation with representatives from Connecticut-based banks and a banking industry association, may establish as part of the Small Business Express program a component operated in collaboration with Connecticut-based banks, which may include, but need not be limited to, loan guarantees, short-term loans used as a bridge to private sector financing and the transfer of loans issued under subsection (c) of this section. Any loans issued under such component shall be used for acquisition or purchase of machinery and equipment, construction or leasehold improvements, relocation expenses, working capital, which may be used for payment of rent, or other business-related expenses, as authorized by the commissioner. The provisions of subsections (c) and (d) of this section shall not be construed to apply to such component. Such component shall be administered by Connecticut Innovations, Incorporated, in collaboration with the Department of Economic and Community Development. For purposes of this section, “Connecticut-based banks” means banks and out-of-state banks, each as defined in section 36a-2 , having deposit-taking branches in the state.

(f) The commissioner, in consultation with Connecticut Innovations, Incorporated, may establish as part of the Small Business Express program a component operated in collaboration with Connecticut Innovations, Incorporated, which may include, but need not be limited to, financial assistance consistent with the provisions and purposes of sections 32-23e , 32-23ii and 32-265 . Such component may be administered by Connecticut Innovations, Incorporated, in collaboration with the Department of Economic and Community Development.

(g) Not later than February 1, 2022, and annually thereafter, the commissioner shall provide a report, in accordance with the provisions of section 11-4a , to the joint standing committees of the General Assembly having cognizance of matters relating to finance, revenue and bonding, appropriations, commerce and labor. Such report shall include available data on (1) the number of small businesses that received assistance under the Small Business Express program and the general categories of such businesses, (2) the amounts and types of assistance provided, (3) the total number of jobs on the date of application and the number proposed to be created or retained, (4) the most recent employment figures of the small businesses receiving assistance, (5) the default rate of small businesses that received assistance under said program, and (6) the progress of the lenders participating in said program in becoming self-sustainable. The contents of such report shall also be included in the department's annual report.

(h) The commissioner may contract with nongovernmental entities, including, but not limited to, nonprofit organizations, economic and community development organizations, lending institutions, and technical assistance providers to carry out the provisions of this section.
Conn. Gen. Stat. § 32-23o — Connecticut Code / Title 32 / Chapter 579 / Section 32-23o
Sec. 32-23o. Small Contractors' Revolving Loan Fund. Loans authorized by the corporation. Transfer of certain funds to the Connecticut Growth Fund.
Status: in_force

(b) Each such loan or extension of credit shall be authorized by Connecticut Innovations, Incorporated or, if the corporation so determines, by a committee of the corporation consisting of the chairman and either one other member of the corporation or its chief executive officer, as specified in the determination of the corporation. Any administrative expenses incurred in carrying out the provisions of this section, to the extent not paid by the corporation or from moneys appropriated to the department, shall be paid from the Small Contractors' Revolving Loan Fund. Payments from the Small Contractors' Revolving Loan Fund to small contractors or to pay such administrative expenses shall be made by the Treasurer upon certification by the Commissioner of Economic and Community Development that the payment is authorized under the provisions of this section, under the applicable rules and regulations of the department, and, if made to a small contractor, under the terms and conditions established by the corporation or the duly appointed committee thereof in authorizing the making of the loan or the extension of credit.

(c) The State Bond Commission may authorize the issuance of bonds of the state in one or more series in accordance with section 3-20 and in a principal amount necessary to carry out the purposes of this section, but not in excess of an aggregate amount of one million five hundred thousand dollars, provided said commission may not authorize the issuance of any bonds under the provisions of this section in excess of one million five hundred thousand dollars on or after June 2, 1986. All of said bonds shall be payable at such place or places as may be determined by the Treasurer pursuant to section 3-19 and shall bear such date or dates, mature at such time or times, not exceeding five years from their respective dates, bear interest at such rate or different or varying rates and payable at such time or times, be in such denominations, be in such form with or without interest coupons attached, carry such registration and transfer privileges, be payable in such medium of payment and be subject to such terms of redemption with or without premium as, irrespective of the provisions of said section 3-20 , may be provided by the authorization of the State Bond Commission or fixed in accordance therewith. The proceeds of the sale of such bonds, together with premium and interest on sale, if any, shall be deposited in the Small Contractors' Revolving Loan Fund created by this section. Such bonds shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on such bonds as the same become due. Accordingly, and as part of the contract of the state with the holders of such bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the Treasurer shall pay such principal and interest as the same become due. Net earnings on investments or reinvestments of proceeds, accrued interest and premiums on the issuance of such bonds, after payment therefrom of expenses incurred by the Treasurer or State Bond Commission in connection with their issuance, shall become part of the Small Contractors' Revolving Loan Fund.
Conn. Gen. Stat. § 32-23qq — Connecticut Code / Title 32 / Chapter 579 / Section 32-23qq
Sec. 32-23qq. Environmental Assistance Revolving Loan Fund. Subfunds.
Status: in_force

(b) Connecticut Innovations, Incorporated and any subsidiary of the corporation shall adopt written procedures, in accordance with the provisions of section 1-121 , to carry out the provisions of this section. Such procedures shall establish requirements for grants, loans, guarantees, interest, repayment terms, security requirements, default and remedies and such other terms and conditions as the corporation or any subsidiary of the corporation shall deem appropriate.

(c) Each such grant, loan, guarantee or extension of credit shall be authorized by Connecticut Innovations, Incorporated or any subsidiary of the corporation or, if the corporation or any subsidiary of the corporation so determines, by a committee of the corporation or any subsidiary of the corporation consisting of the chairman and either one other member of the corporation or subsidiary or its chief executive officer, as specified in the determination of the corporation or subsidiary. Any administrative expenses incurred in carrying out the provisions of this section, to the extent not paid by the corporation or any subsidiary of the corporation or from moneys appropriated to the corporation or any subsidiary of the corporation, shall be paid from the Environmental Assistance Revolving Loan Fund. Payments from the Environmental Assistance Revolving Loan Fund to businesses or municipalities or to pay such administrative expenses shall be made by the corporation or any subsidiary of the corporation upon certification by the chairman of the corporation or such subsidiary that the payment is authorized under the provisions of this section, under the applicable rules and regulations of the corporation or subsidiary, and, if made to a business or municipality under the terms and conditions established by the corporation or subsidiary or the duly appointed committee thereof in authorizing the making of the grant, loan or the extension of credit.
Conn. Gen. Stat. § 32-22 — Connecticut Code / Title 32 / Chapter 579 / Section 32-22
Sec. 32-22. Bond issue.
Status: in_force

(b) The proceeds of the sale of such bonds shall be used by the Department of Economic and Community Development to make grants to the corporation for deposit in the Mortgage and Loan Insurance Fund created by section 32-14 . The terms and conditions of said grants shall be governed in accordance with a grant contract between the department and the corporation. Payments of principal on such bonds as they mature and interest thereon shall be payable first from the Mortgage and Loan Insurance Fund and secondly from the state General Fund.

See Sec. 32-23f re bonds and notes.
Conn. Gen. Stat. § 32-654 — Connecticut Code / Title 32 / Chapter 588z / Section 32-654
Sec. 32-654. Conditions for contracts. Master development plan.
Status: in_force

(1) The Governor shall have filed with the house and senate clerks, who shall transmit the same to the joint committees of the General Assembly having cognizance of matters relating to finance, revenue and bonding and appropriations, a master development plan, which shall include at least the following:

(A) An overall design concept and description of the overall project and the integration of the on-site related private development, including conceptual drawings, preliminary site plans and estimated project schedule;

(B) An estimate of total costs for the stadium facility project, the parking project, the convention center project, the convention center hotel, as applicable, and each other major element of the on-site related private development;

(C) The feasibility and implementation studies for the convention center, the stadium facility and the related parking facilities, as applicable, conducted by the authority pursuant to section 32-604 together with the determination of the authority required by said section;

(D) A plan for the assembly and acquisition of the stadium facility site, the parking facilities site, the convention center site and the sites on which the convention center hotel and the other on-site related private development is to be located, as applicable, for relocation of existing uses on such sites and for site preparation, including identification of such sites, estimated costs of the site assembly and acquisition, relocation and site preparation, including necessary environmental remediation, the proposed ownership and lease arrangements with respect to such sites, with copies of any available site acquisition documents, and the proposed sources and amounts of public and private financing of the cost of site assembly and acquisition, relocation and site preparation including the portion of such costs, if any, to be paid as project costs pursuant to sections 32-650 to 32-668 , inclusive;

(E) A description of required governmental permits and approvals required in connection with the overall project and the on-site related private development, including a report of the status of permit applications and approval, with copies of any available permit applications;

(F) Copies of the environmental impact evaluations prepared by the authority and the Office of Policy and Management pursuant to subsection (j) of section 32-663 ;

(G) A description of the proposed convention center hotel, including number of rooms, other amenities, site acquisition arrangements and proposed ownership, management and financing arrangements, and arrangements with respect to use for hotel purposes of spaces in the related parking facilities, including related parking charges;

(H) Revenue and expense projections for operation of the convention center, the stadium facility and the related parking facilities, as applicable, to the extent not included in the feasibility and implementation studies provided pursuant to subparagraph (C) of this subdivision;

(I) Sources and uses of committed public and private financing for the overall project and the on-site related private development, including projected amounts of tax-exempt and taxable general obligation bonds and revenue bonds;

(J) A financing plan for the overall project and the on-site related development, including the planned sequence and schedule of public and private investment, setting forth requirements for appropriate minimum levels of public and private investment at various stages of development as the overall project and the on-site related private development proceed;

(K) A memorandum of understanding with the university setting forth the material terms of proposed lease, license or other use arrangements regarding university events at the stadium facility, including at a minimum the material terms of the commitment of the university regarding the playing of home football games at the sportsplex, including arrangements with respect to the allocation of event revenues and expenses, other revenue derived as a result of the university's upgrades to Division IA football status, rental or use charges, day of game expenses, event scheduling, ticket operations, event management and operations and responsibilities for maintenance, repair and insurance and sources of revenue to be used by the university to cover capital and operating expenses resulting from the university upgrade to Division IA football; and

(L) A description of the proposed revenue allocation from the related parking facilities; and

(2) The Governor shall have filed with the Treasurer and the State Bond Commission a certificate of determination to the effect that the state, through the authority or the secretary, has received commitments by agreement, contract or other legally enforceable instrument with private investors or developers for minimum private investment in the related private development of two hundred ten million dollars, of which a minimum of forty million dollars shall be private investment in the convention center hotel, which certificate of determination shall include findings by the Governor to the effect that (A) such commitments are enforceable by the secretary or the authority by an action at law or in equity, (B) such commitments relate to projects that will constitute related private development, as defined in section 32-651 , and (C) the related private development that is the subject of such commitments would not have occurred but for the development of the convention center and the related parking facilities and the investment by the state in site acquisition, site preparation and infrastructure improvements associated with the Adriaen's Landing site. Such certificate of determination and findings by the Governor, when filed with the Treasurer and the State Bond Commission, shall be final, conclusive and incontestable for all purposes.

(b) Not later than thirty days after the filing by the Governor of the master development plan pursuant to subdivision (1) of subsection (a) of this section, the joint standing committees of the General Assembly having cognizance of matters relating to finance, revenue and bonding and appropriations shall hold a joint public hearing for purposes of the evaluation and consideration of the master development plan and any other information submitted by the Governor in connection therewith. Said committees shall submit a report of their findings, conclusions and recommendations to the General Assembly, through the clerks of the house and the senate not later than forty-five days after the date of filing by the Governor of the master development plan pursuant to subdivision (1) of subsection (a) of this section.

*Note: Section 64 of public act 99-241 and section 39 of public act 98-1 of the December special session are special in nature and therefore have not been codified but remain in full force and effect according to their terms.
Conn. Gen. Stat. § 32-11e — Connecticut Code / Title 32 / Chapter 579 / Section 32-11e
Sec. 32-11e. Corporation subsidiaries.
Status: in_force

(b) (1) Without limiting the authority of the corporation with respect to establishing other subsidiaries pursuant to subsection (a) of this section, the corporation may establish one or more subsidiaries to stimulate, encourage and carry out the remediation, development and financing of contaminated property within this state, in coordination with the Department of Energy and Environmental Protection, and to provide financial, developmental and environmental expertise to others including, but not limited to, municipalities, interested in or undertaking such remediation, development or financing which are determined to be public purposes for which public funds may be expended. The corporation may transfer to any such subsidiary any moneys and real or personal property.

(2) No subsidiary formed under this subsection may provide for any bonded indebtedness of the state for the cost of any liability or contingent liability for the remediation of contaminated real property unless such indebtedness is specifically authorized by an act of the General Assembly. Each such subsidiary may do all things necessary or convenient to carry out the purposes of this subsection, section 12-81r , subsection (h) of section 22a-133m , subsection (b) of section 22a-133x , sections 22a-133aa , 22a-133bb and 22a-133dd , subsection (l) of section 22a-134a and sections 22a-452f , 32-7e and 32-23pp to 32-23rr , inclusive, including, but not limited to, (A) solicit, receive and accept aid, grants or contributions from any source of money, property or labor or other things of value, to be held, used and applied to carry out the purposes of this subsection, section 12-81r , subsection (h) of section 22a-133m , subsection (b) of section 22a-133x , sections 22a-133aa , 22a-133bb and 22a-133dd , subsection (l) of section 22a-134a and sections 22a-452f , 32-7e and 32-23pp to 32-23rr , inclusive, subject to the conditions upon which such grants and contributions may be made, including, but not limited to, gifts, grants or loans, from any department, agency or quasi-public agency of the United States or the state; (B) enter into agreements with persons upon such terms and conditions as are consistent with the purposes of such subsidiary to acquire or facilitate the remediation, development or financing of contaminated real or personal property; (C) to acquire, take title, lease, purchase, own, manage, hold and dispose of real and personal property and lease, convey or deal in or enter into agreements with respect to such property; (D) examine, inspect, rehabilitate, remediate or improve real or personal property or engage others to do so on such subsidiary's behalf, or enter into contracts therefor; (E) mortgage, convey or dispose of its assets and pledge its revenues to secure any borrowing, for the purpose of financing, refinancing, rehabilitating, remediating, improving or developing its assets, provided each such borrowing or mortgage shall be a special obligation of such subsidiary, which obligation may be in the form of notes, bonds, bond anticipation notes and other obligations issued by or to such subsidiary to the extent permitted under this section and sections 32-11c and 32-11d to fund and refund the same and provide for the rights of the holders thereof, and to secure the same by pledge of revenues, notes or other assets and which shall be payable solely from the assets, revenues and other resources of such subsidiary; (F) to create real estate investment trusts or similar entities or to become a member of a limited liability company or to become a partner in limited or general partnerships or establish other contractual arrangements with private and public sector entities as such subsidiary deems necessary to remediate, develop or finance environmentally contaminated property in the state; and (G) any other powers necessary or appropriate to carry out the purposes of this subsection, subsection (h) of section 22a-133m , subsection (b) of section 22a-133x , sections 22a-133aa , 22a-133bb and 22a-133dd , subsection (l) of section 22a-134a and sections 22a-452f , 32-7e and 32-23pp to 32-23rr , inclusive. The board of directors, chief executive officer, officers and staff of the corporation may serve as members of any advisory or other board which may be established to carry out the purposes of this subsection, subsection (h) of section 22a-133m , subsection (b) of section 22a-133x , sections 22a-133aa , 22a-133bb and 22a-133dd , subsection (l) of section 22a-134a and sections 22a-452f , 32-7e and 32-23pp to 32-23rr , inclusive.

(c) Each subsidiary of the corporation shall be deemed a quasi-public agency for purposes of chapter 12 and shall have all the privileges, immunities, tax exemptions and other exemptions of the corporation. Each such subsidiary may sue and shall be subject to suit, provided its liability shall be limited solely to the assets, revenues and resources of the subsidiary and without recourse to the general funds, revenues, resources or any other assets of the corporation. Each such subsidiary is authorized to assume or take title to property subject to any existing lien, encumbrance or mortgage and to mortgage, convey or dispose of its assets and pledge its revenues to secure any borrowing, provided each such borrowing or mortgage shall be a special obligation of the subsidiary, which obligation may be in the form of bonds, bond anticipation notes and other obligations, to fund and refund the same and provide for the rights of the holders thereof, and to secure the same by pledge or revenues, notes and other assets and which shall be payable solely from the assets, revenues and other resources of the subsidiary. The corporation may assign to a subsidiary any rights, moneys or other assets it has under any governmental program. No subsidiary of the corporation shall borrow without the approval of the corporation.

(d) Each such subsidiary shall act through its board of directors, at least one-half of which shall be members of the board of directors of the corporation or their designees or officers or employees of the corporation. A resolution of the corporation shall prescribe the purposes for which each such subsidiary is formed.

(e) The provisions of section 1-125 and this subsection shall apply to any officer, director, designee or employee appointed as a member, director or officer of any such subsidiary. Any such person so appointed shall not be personally liable for the debts, obligations or liabilities of any such subsidiary as provided in section 1-125 . The subsidiary shall, and the corporation may, save harmless and indemnify such officer, director, designee or employee as provided by section 1-125 .

(f) The corporation, or such subsidiary, may take such actions as are necessary to comply with the provisions of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time, to qualify and maintain any such subsidiary as a corporation exempt from taxation under said code.

(g) The corporation may make loans to each such subsidiary from its assets and the proceeds of its bonds, notes and other obligations, provided the source and security for the repayment of such loans is derived from the assets, revenues and resources of the subsidiary.

(h) Notwithstanding any other provision of the general statutes, the Commissioner of Energy and Environmental Protection shall issue to the corporation or any subsidiary of such corporation a covenant not to sue pursuant to section 22a-133aa or 22a-133bb , as applicable, without fee, as otherwise required in subsection (c) of section 22a-133aa for the remediation of a facility in accordance with an approved remediation plan.
Conn. Gen. Stat. § 32-223 — Connecticut Code / Title 32 / Chapter 588l / Section 32-223
Sec. 32-223. Application for financial assistance. Projects exempt from application.
Status: in_force

(2) The United States Department of the Navy, the United States Department of Defense or eligible applicants shall not be required to submit an application for financial assistance to the commissioner, as required by subsection (a) of this section, for projects related to the enhancement of infrastructure for long-term, on-going naval operations at the United States Naval Submarine Base-New London that are funded by grants to said Department of the Navy, said Department of Defense or said applicants as provided in subdivision (6) of subsection (b) of this section.

(b) Applications properly submitted shall be reviewed and may be approved, disapproved or modified by the commissioner. In reviewing an application and determining the type and amount of financial assistance, if any, to be provided, the commissioner shall consider the following criteria: (1) The availability of funds; (2) the relative economic condition of the municipality; (3) the relative need of the eligible applicant or project for financial assistance; (4) the degree to which financial assistance is necessary as an inducement to the eligible applicant to undertake the project or to the manufacturing or economic base business to locate or undertake the project in the state; (5) the relative economic benefit of the project to the state, including, but not limited to: (A) The extent to which the project will likely result in the retention and creation of jobs, the retention, expansion or relocation of manufacturing or economic base businesses in the state or the diversification of such businesses, or (B) the extent to which the project will increase competitiveness of such businesses, respond to potential or actual dislocation as a result of major plant closings or relocations and address the business service needs of such businesses and the state; and (6) such other criteria as the commissioner may establish consistent with the purposes of sections 32-220 to 32-234 , inclusive. The commissioner shall not deny an application for financial assistance for a project solely because the project site does not have sewer service or access to sewer service.

(c) No financial assistance shall be given to an eligible applicant and no participation interest in a loan made by Connecticut Innovations, Incorporated for the benefit of an eligible applicant shall be purchased by the department until the commissioner has approved the application submitted in accordance with subsection (a) of this section. Notwithstanding any other provision of this section, in the event that the financial assistance requested is the purchase by the department of a participation interest in a loan made by Connecticut Innovations, Incorporated, said corporation may submit such application and other information as is required of eligible applicants under subsection (a) of this section on behalf of such eligible applicant and no further application shall be required of such eligible applicant. No financial assistance shall exceed: (1) Except as otherwise provided in subdivisions (2) to (6), inclusive, of this subsection, fifty per cent of the total project cost, (2) in the case of financial assistance to any project in a targeted investment community, ninety per cent of the project cost, (3) when two or more municipalities which are not targeted investment communities jointly initiate a municipal development project in accordance with the provisions of subsection (e) of section 32-224 , seventy-five per cent of the total project cost, (4) in the case of a municipal development project jointly initiated by two or more municipalities at least one of which is a targeted investment community, the sum of: (A) Seventy-five per cent of the portion of the total project cost allocable to the participation of the municipality or municipalities which are not targeted investment communities, and (B) ninety per cent of the portion of the total project cost allocable to the participation of any targeted investment community or communities, (5) in the case of a defense diversification project, ninety per cent of the total project cost if the project involves a municipal development project or the acquisition or development, or both, of real property for an unspecified occupant, and one hundred per cent in the case of any other defense diversification project, and (6) in the case of moneys used by the department for the purpose of grants to the United States Department of the Navy, United States Department of Defense or eligible applicants for projects related to the enhancement of infrastructure for long-term, on-going naval operations at the United States Naval Submarine Base-New London, as provided in subdivision (6) of subsection (b) of section 32-235 , one hundred per cent of the total project cost. A municipality's share of the total project cost, if any, may, with the approval of the commissioner, be satisfied entirely or partially from noncash contributions, including contributions of real property, from private sources, or, to the extent permitted by federal law, from moneys received by the municipality under any federal grant program.

(d) Financial assistance, whether provided directly to eligible applicants or indirectly in the form of the department's purchase of a participation interest in a loan made by Connecticut Innovations, Incorporated under sections 32-220 to 32-234 , inclusive, may be used for (1) the planning of a municipal development project or business development project, including, but not limited to, the reasonable cost of feasibility studies, engineering, appraisals, market studies and related activities; (2) the acquisition of real property, machinery or equipment, or any combination thereof, provided such financial assistance shall not exceed fair market value; (3) the construction of site and infrastructure improvements relating to a municipal development or business development project; (4) the construction, renovation and demolition of buildings; (5) relocation expenses for the purpose of assisting an eligible applicant to locate, construct, renovate or acquire a facility; or (6) such other reasonable expenses necessary or appropriate for the initiation, implementation and completion of the project, including, but not limited to: (A) Administrative expenses of the eligible applicant; and (B) business support services in conjunction with another state agency when such agency does not provide adequate funds for such services or when no other state agency provides such services. The department may purchase participation interests in loans made by Connecticut Innovations, Incorporated for the foregoing purposes. All relocation assistance provided under sections 32-220 to 32-234 , inclusive, to persons residing in the project area shall be in conformance with chapter 135.

(e) The commissioner may establish the terms and conditions of any financial assistance provided under sections 32-220 to 32-234 , inclusive, except that the interest rate on any loans shall be determined by the State Bond Commission in accordance with subsection (t) of section 3-20 . The commissioner may make any stipulation in connection with an offer of financial assistance he deems necessary to implement the policies and purposes of sections 32-220 to 32-234 , inclusive, including, but not limited to the following: (1) The provision of assurances that the eligible applicant will discharge its obligations in connection with the project, and (2) a requirement that the eligible applicant provide the department with appropriate security for such financial assistance, including, but not limited to, a letter of credit, a lien on real property or a security interest in goods, equipment, inventory or other property of any kind.
Conn. Gen. Stat. § 32-41cc — Connecticut Code / Title 32 / Chapter 581 / Section 32-41cc
Sec. 32-41cc. Connecticut Bioscience Innovation Fund. Establishment. Financial assistance. Report.
Status: in_force

(b) Any amount received by the administrator as repayment of loan principal or any other recovery of the original amount of financial assistance provided from the Connecticut Bioscience Innovation Fund to an eligible recipient shall be deposited and held for the use and benefit of the fund. Any income, earnings or return on investment in excess of such original amount and any repayment of interest received by the administrator shall be deemed unrestricted funds of the corporation as described in subsection (b) of section 32-41a .

(c) The Connecticut Bioscience Innovation Fund shall not be deemed an account within the General Fund and shall be used exclusively for the purposes provided in this section.

(d) The Connecticut Bioscience Innovation Fund shall be used (1) to provide financial assistance to eligible recipients as may be approved by the advisory committee pursuant to subsection (e) of this section, (2) to provide financial assistance to eligible institutions as defined in section 32-41jj and pursuant to the requirements of sections 32-41jj to 32-41mm , inclusive, (3) for the repayment of state bonds in such amounts as may be required by the State Bond Commission, and (4) to pay or reimburse the administrator for administrative costs pursuant to subsection (j) of this section. Such financial assistance shall be awarded to further the development of bioscience, biomedical engineering, health information management, medical care, medical devices, medical diagnostics, pharmaceuticals, personalized medicine and other related disciplines that are likely to lead to an improvement in or development of services, therapeutics, diagnostics or devices that are commercializable and designed to advance the coordination, quality or efficiency of health care and lower health care costs, and that promise, directly or indirectly, to lead to job growth in the state in these or related fields.

(e) All expenditures from the Connecticut Bioscience Innovation Fund, except for administrative costs reimbursed to the administrator pursuant to subsection (j) of this section and amounts required for the repayment of state bonds in such amounts as may be required by the State Bond Commission, shall be approved by the advisory committee. Any such approval shall be (1) specific to an individual expenditure to be made, (2) for budgeted expenditures with such variations as the advisory committee may authorize at the time of such budget approval, or (3) for a financial assistance program to be administered by staff of the administrator, subject to limits, eligibility requirements and other conditions established by the advisory committee at the time of such program approval. The advisory committee may provide financial assistance directly to eligible recipients or indirectly to eligible recipients by investment in private equity investment funds, including investment funds organized, managed and investing in businesses within or outside the state, as described in subsection (g) of this section.

(f) Connecticut Innovations, Incorporated shall provide any necessary staff, office space, office systems and administrative support for the operation of the Connecticut Bioscience Innovation Fund in accordance with this section. In acting as administrator of the fund, the administrator shall have and may exercise all of the powers of Connecticut Innovations, Incorporated set forth in section 32-39 , provided expenditures from the fund shall be approved by the advisory committee pursuant to subsection (e) of this section.

(g) The advisory committee shall establish an application and approval process with guidelines and terms for financial assistance awarded from the Connecticut Bioscience Innovation Fund directly to eligible recipients. Such guidelines and terms shall include (1) a requirement that any applicant for financial assistance shall be operating in the state, or proposing to relocate operations to the state, in whole or in part, as a condition of such financial assistance, (2) limitations on the total amount of financial assistance that may be awarded in the form of loans and grants, (3) eligibility requirements for loans and grants designed to encourage and support collaborative ventures among eligible recipients, (4) peer review requirements, (5) a process for preliminary review of applications for strength and eligibility by the administrator before such applications are presented to the advisory committee for consideration, (6) return on investment objectives, and (7) such other guidelines and terms as the advisory committee determines to be necessary and appropriate in furtherance of the objectives of this section. The advisory committee shall adopt guidelines for any financial assistance provided indirectly to eligible recipients by investment into private equity investment funds, including, but not limited to, a requirement that any private equity investment fund that receives an investment from the advisory committee invest not less than the amount of such investment by the advisory committee, net of reasonable management fees and closing costs, in eligible recipients in the state.

(h) Financial assistance awarded from the Connecticut Bioscience Innovation Fund to eligible recipients shall be used for costs related to facilities, necessary furniture, fixtures and equipment, materials and supplies, peer review, proof of concept or relevance, compensation, and such other costs that the advisory committee determines to be eligible for financial assistance within the purposes of this section.

(i) Beginning January 1, 2014, the administrator shall prepare for each fiscal year a plan of operations and an operating and capital budget for the Connecticut Bioscience Innovation Fund. Not later than ninety days prior to the start of the fiscal year, the administrator shall submit the plan and budget to the advisory committee for its review and approval.

(j) Administrative costs shall be paid or reimbursed to the administrator from the Connecticut Bioscience Innovation Fund, provided the total of such administrative costs in any fiscal year shall not exceed five per cent of the total amount of the allotted funding for such fiscal year as determined in the operating budget prepared pursuant to subsection (i) of this section. Nothing in section 32-41aa , 32-41bb or this section shall require the administrator to risk or expend the funds of Connecticut Innovations, Incorporated in connection with the administration of the Connecticut Bioscience Innovation Fund.

(k) Not later than April 15, 2014, and annually thereafter, the administrator shall provide a report of the activities of the Connecticut Bioscience Innovation Fund to the advisory committee for its review and approval. Upon its approval, the advisory committee shall provide such report, in accordance with the provisions of section 11-4a , to the joint standing committees of the General Assembly having cognizance of matters relating to finance, revenue and bonding, appropriations, commerce, public health and higher education. Such report shall contain available information on the status and progress of the operations and funding of the Connecticut Bioscience Innovation Fund and the types, amounts and recipients of financial assistance awarded and any returns on investment.
Conn. Gen. Stat. § 32-607 — Connecticut Code / Title 32 / Chapter 588x / Section 32-607
Sec. 32-607. Bonds, notes and other obligations. Special capital reserve funds.
Status: in_force

(b) Except as may be otherwise expressly provided in this section or by the board, every issue of bonds, notes or other obligations, shall be a general obligation of the authority payable out of any moneys or revenues of the authority subject only to any agreements with the holders of particular bonds, notes or other obligations pledging any particular moneys or revenues. Any such bonds, notes or other obligations may be additionally secured by a pledge of any state contract assistance as provided in section 32-608 , any grant or contributions from any department, agency or instrumentality of the United States or person or a pledge of any moneys, income or revenues of the authority from any source whatsoever.

(c) Notwithstanding any other provision of any law, any bonds, notes or other obligations issued by the authority pursuant to this section shall be fully negotiable within the meaning and for all purposes of title 42a. Any such bonds, notes or other obligations shall be legal investments for all trust companies, banks, investment companies, savings banks, building and loan associations, executors, administrators, guardians, conservators, trustees and other fiduciaries and pension, profit-sharing and retirement funds.

(d) Bonds, notes or other obligations of the authority shall be authorized by resolution of the board of directors of the authority and may be issued in one or more series and shall bear such date or dates, mature at such time or times, in the case of any such note, or any renewal thereof, not exceeding the term of years as the board shall determine from the date of the original issue of such notes, and, in the case of bonds, not exceeding thirty years from the date thereof, bear interest at such rate or rates, be in such denomination or denominations, be in such form, either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable from such sources in such medium of payment at such place or places within or without this state, and be subject to such terms of redemption, with or without premium, as such resolution or resolutions may provide.

(e) Bonds, notes or other obligations of the authority may be sold at public or private sale at such price or prices as the board shall determine.

(f) Bonds, notes or other obligations of the authority may be refunded and renewed from time to time as may be determined by resolution of the board, provided any such refunding or renewal shall be in conformity with any rights of the holders thereof.

(g) Bonds, notes or other obligations of the authority issued under the provisions of this section shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof other than the authority or a pledge of the faith and credit of the state or of any such political subdivision other than the authority, and shall not constitute bonds or notes issued or guaranteed by the state within the meaning of section 3-21 , but shall be payable solely from the funds as provided in this section. All such bonds, notes or other obligations shall contain on the face thereof a statement to the effect that neither the state of Connecticut nor any political subdivision thereof other than the authority shall be obligated to pay the same or the interest thereof except from revenues or other funds of the authority and that neither the faith and credit nor the taxing power of the state of Connecticut or of any political subdivision thereof other than the authority is pledged to the payment of the principal of or the interest on such bonds, notes or other obligations.

(h) Any resolution or resolutions authorizing the issuance of bonds, notes or other obligations may contain provisions, except as limited by existing agreements with the holders of bonds, notes or other obligations, which shall be a part of the contract with the holders thereof, as to the following: (1) The pledging of all or any part of the moneys received by the authority to secure the payment of the principal of and interest on any bonds, notes or other obligations or of any issue thereof; (2) the pledging of all or part of the assets of the authority to secure the payment of the principal and interest on any bonds, notes or other obligations or of any issue thereof; (3) the establishment of reserves or sinking funds, the making of charges and fees to provide for the same, and the regulation and disposition thereof; (4) limitations on the purpose to which the proceeds of sale of bonds, notes or other obligations may be applied and pledging such proceeds to secure the payment of the bonds, notes or other obligations, or of any issues thereof; (5) limitations on the issuance of additional bonds, notes or other obligations, the terms upon which additional bonds, bond anticipation notes or other obligations may be issued and secured, the refunding or purchase of outstanding bonds, notes or other obligations of the authority; (6) the procedure, if any, by which the terms of any contract with the holders of any bonds, notes or other obligations of the authority may be amended or abrogated, the amount of bonds, notes or other obligations the holders of which must consent thereto and the manner in which such consent may be given; (7) limitations on the amount of moneys to be expended by the authority for operating, administrative or other expenses of the authority; (8) the vesting in a trustee or trustees of such property, rights, powers and duties in trust as the authority may determine, which may include any or all of the rights, powers and duties of any trustee appointed by the holders of any bonds, notes or other obligations and limiting or abrogating the right of the holders of any bonds, notes or other obligations of the authority to appoint a trustee or limiting the rights, powers and duties of such trustee; (9) provision for a trust agreement by and between the authority and a corporate trustee which may be any trust company or bank having the powers of a trust company within or without the state, which agreement may provide for the pledging or assigning of any assets or income from assets to which or in which the authority has any rights or interest, and may further provide for such other rights and remedies exercisable by the trustee as may be proper for the protection of the holders of any bonds, notes or other obligations of the authority and not otherwise in violation of law. Such agreement may provide for the restriction of the rights of any individual holder of bonds, notes or other obligations of the authority. All expenses incurred in carrying out the provisions of such trust agreement may be treated as a part of the cost of operation of the authority. The trust agreement may contain any further provisions which are reasonable to delineate further the respective rights, duties, safeguards, responsibilities and liabilities of the authority, individual and collective holders of bonds, notes and other obligations of the authority and the trustees; (10) covenants to do or refrain from doing such acts and things as may be necessary or convenient or desirable in order to better secure any bonds, notes or other obligations of the authority, or which, in the discretion of the authority, will tend to make any bonds, notes or other obligations to be issued more marketable notwithstanding that such covenants, acts or things may not be enumerated herein; and (11) any other matters of like or different character, which in any way affect the security or protection of the bonds, notes or other obligations.

(i) Any pledge made by the authority of income, revenues, state contract assistance provided under section 32-608 , or other property shall be valid and binding from the time the pledge is made. The income, revenue, state contract assistance, such state taxes as the authority shall be entitled to receive or other property so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the authority, irrespective of whether such parties have notice thereof.

(j) The board of directors of the authority is authorized and empowered to obtain from any department, agency or instrumentality of the United States any insurance or guarantee as to, or of or for the payment or repayment of, interest or principal, or both, or any part thereof, on any bonds, notes or other obligations issued by the authority pursuant to the provisions of this section and, notwithstanding any other provisions of sections 32-600 to 32-611 , inclusive, to enter into any agreement, contract or any other instrument whatsoever with respect to any such insurance or guarantee except to the extent that such action would in any way impair or interfere with the authority's ability to perform and fulfill the terms of any agreement made with the holders of the bonds, bond anticipation notes or other obligations of the authority.

(k) Neither the members of the board of directors of the authority nor any person executing bonds, notes or other obligations of the authority issued pursuant to this section shall be liable personally on such bonds, notes or other obligations or be subject to any personal liability or accountability by reason of the issuance thereof, nor shall any director or employee of the authority be personally liable for damage or injury, not wanton, reckless, wilful or malicious, caused in the performance of his duties and within the scope of his employment or appointment as such director, officer or employee. The authority shall protect, save harmless and indemnify its directors, officers or employees from financial loss and expense, including legal fees and costs, if any, arising out of any claim, demand, suit or judgment by reason of alleged negligence or alleged deprivation of any person's civil rights or any other act or omission resulting in damage or injury, if the director, officer or employee is found to have been acting in the discharge of his duties or within the scope of his employment and such act or omission is found not to have been wanton, reckless, wilful or malicious.

(l) The board of directors of the authority shall have power to purchase bonds, notes or other obligations of the authority out of any funds available for such purpose. The authority may hold, cancel or resell such bonds, notes or other obligations subject to and in accordance with agreements with holders of its bonds, notes and other obligations.

(m) All moneys received pursuant to the authority of this section, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this section. Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes of section 32-602 , and the resolution authorizing the bonds of any issue or the trust agreement securing such bonds may provide.

(n) Any holder of bonds, notes or other obligations issued under the provisions of this section, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any such trust agreement securing, such bonds may, either at law or in equity, by suit, action, mandamus or other proceedings, protect and enforce any and all rights under the laws of the state or granted under this section or under such resolution or trust agreement, and may enforce and compel the performance of all duties required by this section or by such resolution or trust agreement to be performed by the authority or by any officer, employee or agent thereof, including the fixing, charging and collecting of the rates, rents, fees and charges herein authorized and required by the provisions of such resolution or trust agreement to be fixed, established and collected.

(o) The authority may make representations and agreements for the benefit of the holders of any bonds, notes or other obligations of the state which are necessary or appropriate to ensure the exclusion from gross income for federal income tax purposes of interest on bonds, notes or other obligations of the state from taxation under the Internal Revenue Code of 1986 or any subsequent corresponding internal revenue code of the United States, as from time to time amended, including agreement to pay rebates to the federal government of investment earnings derived from the investment of the proceeds of the bonds, notes or other obligations of the authority. Any such agreement may include: (1) A covenant to pay rebates to the federal government of investment earnings derived from the investment of the proceeds of the bonds, notes or other obligations of the authority; (2) a covenant that the authority will not limit or alter its rebate obligations until its obligations to the holders or owners of such bonds, notes or other obligations are finally met and discharged; and (3) provisions to (A) establish trust and other accounts which may be appropriate to carry out such representations and agreements, (B) retain fiscal agents as depositories for such funds and accounts, and (C) provide that such fiscal agents may act as trustee of such funds and accounts.

(p) No bonds, notes or other obligations shall be issued by the authority unless such bonds, notes or other obligations have been approved for issuance by the State Bond Commission following (1) a finding that such issuance is in the public interest, (2) a filing with the clerks of the General Assembly of a certificate of the Secretary of the Office of Policy and Management and the State Treasurer pursuant to subsection (a) of section 32-608 and until bonds of the state authorized pursuant to section 32-614 have been approved for issuance by the State Bond Commission for such project, and (3) in the case of any bonds, notes or other obligations to be issued to provide funding for the convention center project, the satisfaction of the conditions set forth in subsection (a) of section 32-654 .

(q) In connection with the issuance of bonds to finance the convention center project or to refund bonds previously issued by the authority to finance the convention center project, the authority may create and establish one or more reserve funds to be known as special capital reserve funds and may pay into such special capital reserve funds (1) any moneys appropriated and made available by the state for the purposes of such funds, (2) any proceeds of sale of notes or bonds for the convention center project, to the extent provided in the resolution of the authority authorizing the issuance thereof, and (3) any other moneys which may be made available to the authority for the purpose of such funds from any other source or sources. The moneys held in or credited to any special capital reserve fund established under this section, except as hereinafter provided, shall be used solely for the payment of the principal of and interest on, when due, whether at maturity or by mandatory sinking fund installments, on bonds of the authority secured by such capital reserve fund as the same become due, the purchase of such bonds of the authority, the payment of any redemption premium required to be paid when such bonds are redeemed prior to maturity; provided the authority shall have power to provide that moneys in any such fund shall not be withdrawn therefrom at any time in such amount as would reduce the amount of such funds to less than the maximum amount of principal and interest becoming due by reasons of maturity or a required sinking fund installment in the then current or any succeeding calendar year on the bonds of the authority then outstanding or the maximum amount permitted to be deposited in such fund by the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as from time to time amended, to permit the interest on said bonds to be excluded from gross income for federal tax purposes and secured by such special capital reserve fund, such amount being herein referred to as the “required minimum capital reserve”, except for the purpose of paying such principal of, redemption premium and interest on such bonds of the authority secured by such special capital reserve becoming due and for the payment of which other moneys of the authority are not available. The authority may provide that it shall not issue bonds secured by a special capital reserve fund at any time if the required minimum capital reserve on the bonds outstanding and the bonds then to be issued and secured by the same special capital reserve fund at the time of issuance, unless the authority, at the time of the issuance of such bonds, shall deposit in such special capital reserve fund from the proceeds of the bonds so to be issued, or otherwise, an amount which, together with the amount then in such special capital reserve fund, will be not less than the required minimum capital reserve. On or before December first, annually, there is deemed to be appropriated from the state General Fund such sums, if any, as shall be certified by the chairman or vice-chairman of the authority to the Secretary of the Office of Policy and Management and the Treasurer, as necessary to restore each such special capital reserve fund to the amount equal to the required minimum capital reserve of such fund, and such amounts shall be allotted and paid to the authority. For the purpose of evaluation of any such special capital reserve fund, obligations acquired as an investment for any such fund shall be valued at market. Nothing contained in this section shall preclude the authority from establishing and creating other debt service reserve funds in connection with the issuance of bonds or notes of the authority which are not special capital reserve funds. Subject to any agreement or agreements with holders of outstanding notes and bonds of the authority, any amount or amounts allotted and paid to the authority pursuant to this section shall be repaid to the state from moneys of the authority at such time as such moneys are not required for any other of its corporate purposes and in any event shall be repaid to the state on the date one year after all bonds and notes of the authority theretofore issued on the date or dates such amount or amounts are allotted and paid to the authority or thereafter issued, together with interest on such bonds and notes, with interest on any unpaid installments of interest and all costs and expenses in connection with any action or proceeding by or on behalf of the holders thereof, are fully met and discharged. No bonds secured by a special capital reserve fund shall be issued to pay project costs unless the authority is of the opinion and determines that the revenues from the project shall be sufficient to (A) pay the principal of and interest on the bonds issued to finance the project, (B) establish, increase and maintain any reserves deemed by the authority to be advisable to secure the payment of the principal of and interest on such bonds, (C) pay the cost of maintaining the project in good repair and keeping it properly insured, and (D) pay such other costs of the project as may be required. No bonds secured by a special capital reserve fund shall be issued unless the issuance of such bonds is approved by the Treasurer.
Conn. Gen. Stat. § 32-7s — Connecticut Code / Title 32 / Chapter 578 / Section 32-7s
Sec. 32-7s. Office of Community Economic Development Assistance. Certification of community development corporations. Grants for projects in target areas. Bonds. Report.
Status: in_force

(1) “Certified community development corporation” means an organization exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time, that (A) focuses a substantial majority of the community development corporation's efforts on serving one or more target areas, (B) has as its purpose to engage local residents and businesses to work together to undertake community development programs, projects and activities that develop and improve urban communities in sustainable ways that create and expand economic opportunities for low and moderate-income people, (C) demonstrates to the Office of Community Economic Development Assistance established under subsection (b) of this section that the community development corporation's constituency is meaningfully represented on the board of directors of such community development corporation, through (i) the percentage of the board members who are residents of a target area or a community that such community development corporation serves or seeks to serve, (ii) the percentage of board members who are low or moderate-income, (iii) the racial and ethnic composition of the board in comparison to the racial and ethnic composition of the community such community development corporation serves or seeks to serve, or (iv) the use of mechanisms such as committees or membership meetings that the community development corporation uses to ensure that its constituency has a meaningful role in the governance and direction of the community development corporation, and (D) is certified by the Office of Community Economic Development Assistance pursuant to this section;

(2) “Department” means the Department of Economic and Community Development; and

(3) “Target area” means a contiguous geographic area in which the current unemployment rate exceeds the state unemployment rate by at least twenty-five per cent or in which the mean household income is at or below eighty per cent of the state mean household income, as determined by the most recent decennial census.

(b) (1) There is established an Office of Community Economic Development Assistance within the Department of Economic and Community Development. The office shall, within available appropriations, (A) provide assistance to organizations seeking to establish themselves or be certified as a community development corporation in the state, (B) provide grants to certified community development corporations for projects to be undertaken in a target area, (C) serve as the liaison between community development corporations and investors seeking to invest funds in such community development corporations and provide assistance in soliciting investment funds for such community development corporations, and (D) seek to ensure coordinated, efficient and timely responses to such organizations, community development corporations and investors.

(2) The office shall identify eligible target areas in the state and post such target areas on the department's Internet web site.

(c) (1) Any organization exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time, may apply to the Office of Community Economic Development Assistance to establish itself as or be certified as a community development corporation in the state. The office shall prescribe the form and manner of such application.

(2) (A) Any existing community development corporation that operates or seeks to operate in the state may apply to the office to be certified. The office shall certify any community development corporation that is exempt from taxation under Section 501(c)(3) of said Internal Revenue Code and meets the requirements set forth in subparagraphs (A) to (C), inclusive, of subdivision (1) of subsection (a) of this section. Each community development corporation that is established pursuant to this subsection shall be deemed to be certified.

(B) The office shall maintain a current list of certified community development corporations and shall post such list on the Internet web site of the department.

(3) The Office of Community Economic Development Assistance shall establish a grant program for projects to be undertaken by a certified community development corporation in a target area, provided, on and after the date the ten-year plan developed under section 32-7z is submitted to the General Assembly, the office shall give priority to projects included in such plan. Such projects shall include, but not be limited to, infrastructure improvements, housing rehabilitation, streetscape improvements and facade improvements for businesses. The office shall establish the application form and process for such grant program, the criteria for eligible projects and for awarding grants and any caps or limits on the amount or number of grants awarded. The office shall post information concerning the grant program on the department's Internet web site.

(d) (1) For the purposes described in subdivision (2) of this subsection, the State Bond Commission shall have the power from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate fifty million dollars.

(2) The proceeds of the sale of such bonds, to the extent of the amount stated in subdivision (1) of this subsection, shall be used by the Department of Economic and Community Development for the purposes of carrying out the duties of the Office of Community Economic Development Assistance under subsection (b) of this section and the grant program under subsection (c) of this section.

(3) All provisions of section 3-20 , or the exercise of any right or power granted thereby, that are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section. Temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with section 3-20 and from time to time renewed. Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds. None of such bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization that is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require. Such bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on such bonds as the same become due, and accordingly and as part of the contract of the state with the holders of such bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due.

(e) Not later than July 1, 2023, and annually thereafter, the Office of Community Economic Development Assistance shall submit a report, in accordance with the provisions of section 11-4a , to the joint standing committees of the General Assembly having cognizance of matters relating to commerce, planning and development and finance, revenue and bonding. Such report shall include, but not be limited to, a description of the activities undertaken by the office in the preceding fiscal year, the number of community development corporations established and certified in the preceding fiscal year, the number and amounts of grants awarded to certified community development corporations in the preceding fiscal year and a description and the locations of the projects undertaken by certified community development corporations in the preceding fiscal year.
Conn. Gen. Stat. § 32-652 — Connecticut Code / Title 32 / Chapter 588z / Section 32-652
Sec. 32-652. Bond authorization for stadium facility project.
Status: repealed

(b) The bonds authorized pursuant to this section shall mature at such time or times not exceeding thirty years. None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization, which is signed by the secretary stating such terms and conditions as said commission, in its discretion may require. Such bonds shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on such bonds, including temporary or interim notes, as the same become due, and, accordingly, as part of the contract of the state with the holders of such bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made including with respect to interest on temporary or interim notes and principal thereof to the extent not funded with renewals thereof or bonds, and the Treasurer shall pay such principal and interest as the same become due.

(c) No bonds, notes or other obligations provided for in this section shall be authorized by the State Bond Commission except upon (1) a filing by the secretary with the State Bond Commission of a copy of the master development plan, and (2) a finding by the State Bond Commission that such issuance is in the public interest.

(d) All provisions of section 3-20 and the exercise of any right or power granted thereby which is not inconsistent with the provisions of this section, are hereby adopted and shall apply to all bonds authorized pursuant to this section, and temporary or interim notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with said section 3-20 and from time to time renewed provided no filings required by subparagraphs (A) and (B) of subdivision (1) of subsection (g) of said section 3-20 shall be required.

(e) Any balance of proceeds of the sale of such bonds authorized by this section in excess of aggregate project costs shall be used to meet interest and principal amounts as the same become due on such bonds or to defease or redeem such bonds as may be outstanding, or shall be deposited to the General Fund as the Treasurer shall determine.

(f) Net earnings on investment of proceeds, accrued interest and premiums on the issuance of any of such bonds authorized by this section after payment of expenses incurred by the Treasurer in connection with their issuance, if any, and after compliance with applicable federal tax requirements, shall be used to meet interest and principal amounts as the same become due on said authorized bonds.

(g) After authorization by the State Bond Commission, all securities of the state issued pursuant to this section shall be conclusively presumed to be fully and duly authorized and issued under the laws of the state. Any person or governmental entity shall be estopped from questioning their authorization, sale, issuance, execution or delivery by the state.

(h) For the purposes of this section “state moneys” means the proceeds of the sale of the bonds authorized pursuant to this section or of temporary or interim notes issued in anticipation of the moneys to be derived from the sale of such bonds. Any federal, private or other moneys then available or thereafter to be made available for project costs of the stadium facility project as identified by the secretary may be added to any state moneys available or becoming available hereunder for such project costs and be used for the stadium facility project as if constituting such state moneys, and any other federal, private or other moneys then available or thereafter to be made available for such project costs, if and to the extent from time to time directed by the Treasurer, upon receipt shall, in conformity with applicable federal and state law, be used for the purposes for which such other moneys are received, and otherwise by the Treasurer to meet the principal of outstanding bonds issued pursuant to this section or to meet the principal of temporary or interim notes issued in anticipation of the money to be derived from the sale of such bonds authorized pursuant to public act 99-241*, as amended by public act 00-140*, for the purpose of financing such project costs, either by purchase or redemption and cancellation of such bonds or notes or by payment thereof at maturity. Whenever any of the federal, private or other moneys so received with respect to the stadium facility project are used to meet principal of such temporary or interim notes or whenever principal on any such temporary or interim notes is retired by application of revenue receipts of the state, the amount of such bonds authorized in anticipation of which such temporary or interim notes were issued, and the aggregate amount of such bonds which may be authorized pursuant to this section shall each be reduced by the amount of the principal so met or retired. Pending use of the federal, private or other moneys so received to meet the principal as directed in this subsection, the amount thereof may be invested by, or at the direction of, the Treasurer in bonds or obligations of, or guaranteed by, the state or the United States or agencies or instrumentalities of the United States, or in accordance with the provisions of said section 3-20 , and shall be deemed to be part of the debt retirement funds of the state, and net earnings on such investments shall be used in the same manner as said moneys so invested.

*Note: Public act 99-241 is entitled “An Act Increasing Certain Bond Authorizations for Capital Improvements, the Capital City Economic Development Authority, and the Convention Center and Sportsplex in Hartford and Associated Development Activities” and public act 00-140 is entitled “An Act Implementing the Master Development Plan for the Adriaen's Landing Project and the Stadium at Rentschler Field Project. (See Reference Tables captioned “Public Acts of 1999” and “Public Acts of 2000”, respectively, in Volume 16 which list the sections amended, created or repealed by the acts.)
Conn. Gen. Stat. § 32-6v — Connecticut Code / Title 32 / Chapter 578 / Section 32-6v
Sec. 32-6v. Promotion of bioscience and biotechnology businesses in Southeastern Connecticut Planning Region. Program.
Status: in_force

(1) Outreach efforts to entrepreneurs, regional community and business leaders and experts in the bioscience and biotechnology fields to determine the needs and objectives of such individuals, and to inform such individuals of state programs and resources to assist in the formation of bioscience and biotechnology businesses in said planning region;

(2) A marketing plan for bioscience and biotechnology development in said planning region, including: (A) An identification of assets, including the facilities and talent pool located in said planning region, (B) marketing tools to advertise such assets, (C) goals for such marketing plan, and (D) a timetable and budget for such marketing plan; and

(3) A working group that shall consist of not less than ten nor more than fifteen business and community leaders from said planning region to (A) encourage networking and planning between professionals from different fields, (B) support the development and occupancy of the incubator at CURE Innovation Commons, (C) assess the program established pursuant to this section, and (D) make recommendations to the commissioner concerning the development and implementation of such program; and

(c) Not later than February 1, 2017, the commissioner shall include in the annual report, pursuant to section 32-1m , a report on the program established pursuant to this section.
Conn. Gen. Stat. § 32-1e — Connecticut Code / Title 32 / Chapter 578 / Section 32-1e
Sec. 32-1e. Plan for support and promotion of industries using recycled materials.
Status: in_force

(b) Such plan shall be completed on or before July 1, 2007.
Conn. Gen. Stat. § 32-80b — Connecticut Code / Title 32 / Chapter 585 / Section 32-80b
Sec. 32-80b. Energy improvement districts funding and revenue.
Status: in_force

(b) An energy improvement district board may issue bonds as serial bonds, as term bonds or as both. Bonds shall be authorized by resolution of the members of the authority and shall bear such date or dates, mature at such time or times, not exceeding twenty years from their respective dates, bear interest at such rate or rates, or have provisions for the manner of determining such rate or rates, payable at such time or times, be in such denominations, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in lawful money of the United States of America at such place or places, and be subject to such terms of redemption, as such resolution or resolutions may provide. The revenue bonds or notes may be sold at public or private sale for such price or prices as the energy improvement district board shall determine. Pending preparation of the definitive bonds, the energy improvement district board may issue interim receipts or certificates that shall be exchanged for such definitive bonds.

(c) Any resolution or resolutions authorizing any revenue bonds or any issue of revenue bonds may contain provisions, which shall be part of the contract with the holders of the revenue bonds to be authorized, as to: (1) Pledging all or any part of the revenues of a project or any revenue-producing contract or contracts made by the energy improvement district board with any individual, partnership, corporation or association or other body, public or private, to secure the payment of the revenue bonds or of any particular issue of revenue bonds, subject to such agreements with bondholders as may then exist; (2) the rentals, fees and other charges to be charged, the amounts to be raised in each year thereby and the use and disposition of the revenues; (3) the setting aside of reserves or sinking funds or other funds or accounts as the board may establish and the regulation and disposition thereof, including requirements that any such funds and accounts be held separate from or not be commingled with other funds of the board; (4) limitations on the right of the board or its agent to restrict and regulate the use of the project; (5) limitations on the purpose to which the proceeds of sale of any issue of revenue bonds then or thereafter to be issued may be applied and pledging such proceeds to secure the payment of the revenue bonds or any issue of the revenue bonds; (6) limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured and the refunding of outstanding bonds; (7) the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent thereto and the manner in which such consent may be given; (8) limitations on the amount of moneys derived from the project to be expended for operating, administrative or other expenses of the board; (9) defining the acts or omissions to act that shall constitute a default in the duties of the board to holders of its obligations and providing the rights and remedies of such holders in the event of a default; (10) the mortgaging of a project and the site thereof for the purpose of securing the bondholder; and (11) provisions for the execution of reimbursement agreements or similar agreements in connection with credit facilities, including, but not limited to, letters of credit or policies of bond insurance, remarketing agreements and agreements for the purpose of moderating interest rate fluctuations.

(d) If any member whose signature or a facsimile of whose signature appears on any bonds or coupons ceases to be such member before delivery of such bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes as if he had remained in office until such delivery. Notwithstanding the provisions of sections 32-80a to 32-80c , inclusive, or any recitals in any bonds issued pursuant to subsections (a) to (h), inclusive, of this section, all such bonds shall be deemed to be negotiable instruments under the provisions of the general statutes.

(e) Unless otherwise provided by the ordinance creating the energy improvement district board, the board may issue bonds pursuant to subsections (a) to (h), inclusive, of this section, without obtaining the consent of the state or of any political subdivision thereof and without any other proceedings or conditions specifically required by sections 32-80a to 32-80c , inclusive.

(f) An energy improvement district board may, within available funds, purchase its bonds or notes. The energy improvement district board may hold, pledge, cancel or resell such bonds, subject to and in accordance with agreements with bondholders.

(g) An energy improvement district board shall cause a copy of any bond resolutions adopted by it to be filed for public inspection in its office and in the office of the clerk of each participating municipality and may thereupon cause to be published at least once, in a newspaper published or circulating in each participating municipality, a notice stating the fact and date of such adoption and the places where such bond resolution has been so filed for public inspection and the date of the first publication of such notice and also stating that any action or proceeding of any kind or nature in any court questioning the validity or proper authorization of bonds provided for by the bond resolution, or the validity of any covenants, agreements or contracts provided for by the bond resolution, shall be commenced not later than twenty days after the first publication of such notice. If any such notice is published and if no action or proceeding questions the validity or proper authorization of bonds provided for by the bond resolution referred to in such notice or the validity of any covenants, agreements or contracts provided for by the bond resolution is commenced or instituted not later than twenty days after the first publication of said notice, then all residents and taxpayers and owners of property in each participating municipality and all other persons shall be forever barred and foreclosed from instituting or commencing any action or proceeding in any court or from pleading any defense to any action or proceeding questioning the validity or proper authorization of such bonds or the validity of such covenants, agreements or contracts, and said bonds, covenants, agreements and contracts shall be conclusively deemed to be valid and binding obligations in accordance with their terms and tenor.

(h) Notwithstanding any provision of the general statutes, (1) the state shall not have any liability or responsibility with regard to any obligation issued by the board, and (2) no political subdivision of the state shall have any liability or responsibility with regard to any obligation issued by the board except as expressly provided by sections 32-80a to 32-80c , inclusive.

(i) An energy improvement district board may secure any bonds issued pursuant to subsection (b) of section 32-80a by a trust indenture by way of conveyance, deed of trust or mortgage of any project or any other property of the board, whether or not financed in whole or in part from the proceeds of such bonds, or by a trust agreement by and between the board and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state or by both such conveyance, deed of trust or mortgage and indenture or trust agreement. Such trust indenture or agreement may pledge or assign any or all fees, rents and other charges to be received or proceeds of any contract or contracts pledged, and may convey or mortgage any property of the board. Such trust indenture or agreement may contain such provisions for protecting and enforcing the right and remedies of the bondholders as may be reasonable and proper and not in violation of law, including provisions that have been specifically authorized to be included in any resolution or resolutions of the board authorizing the issue of bonds. Any bank or trust company incorporated under the laws of the state may act as depository of the proceeds of such bonds or of revenues or other moneys and may furnish such indemnifying bonds or pledge such securities as may be required by the board. Such trust indenture may set forth rights and remedies of the bondholders and of the trustee and may restrict the individual right of action by bondholders. In addition, such trust indenture or agreement may contain such other provisions as the board may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust indenture or agreement may be treated as part of the cost of a project.

(j) An energy improvement district board may fix, revise, charge and collect rates, rents, fees and charges for the use of and for the services furnished or to be furnished by each project and to contract with any person, partnership, association or corporation, or other body, public or private, in respect thereof. Such rates, rents, fees and charges shall be fixed and adjusted in respect of the aggregate of rates, rents, fees and charges from such project so as to provide funds sufficient with other revenues, if any, to (1) pay the cost of maintaining, repairing and operating the project and each and every portion thereof, to the extent that the payment of such cost has not otherwise been adequately provided for, (2) pay the principal and interest of outstanding revenue bonds of the board issued in respect of such project as the same shall become due and payable, and (3) create and maintain reserves required or provided for in any resolution authorizing, or trust agreement securing, such revenue bonds of the board. Such rates, rents, fees and charges shall not be subject to supervision or regulation by any department, commission, board, body, bureau or agency of this state other than the board. A sufficient amount of the revenues derived in respect of a project, except such part of such revenues as may be necessary to pay the cost of maintenance, repair and operation and to provide reserves and for renewals, replacements, extensions, enlargements and improvements as may be provided for in the resolution authorizing the issuance of any revenue bonds of the board or in the trust agreement securing the same, shall be set aside at such regular intervals as may be provided in such resolution or trust agreement in a sinking or other similar fund which is hereby pledged to, and charged with, the payment of the principal of and the interest on such revenue bonds as the same shall become due, and the redemption price or the purchase price of bonds retired by call or purchase as therein provided. Such pledge shall be valid and binding from the time when the pledge is made; the rates, rents, fees and charges and other revenues or other moneys so pledged and thereafter received by the board shall immediately be subject to the lien of any such pledge, without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the board, irrespective of whether such parties have notice thereof. Neither the resolution nor any trust indenture or agreement by which a pledge is created need be filed or recorded except in the records of the board. The use and disposition of moneys to the credit of such sinking or other similar fund shall be subject to the provisions of the resolution authorizing the issuance of such bonds or of such trust agreement. Except as may otherwise be provided in such resolution or such trust indenture or agreement, such sinking or other similar fund shall be a fund for all revenue bonds issued to finance a project of such board without distinction or priority of one over another.

(k) All moneys received by the board pursuant to sections 32-80a to 32-80c , inclusive, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided pursuant to this subsection and subsection (j) of this section.

(l) Any holder of bonds, notes, certificates or other evidences of borrowing issued pursuant to subsection (b) of section 32-80a or of any of the coupons appertaining thereto and the trustee under any trust indenture or agreement, except to the extent the right may be restricted by such trust indenture or agreement, may, either at law or in equity, by suit, action, injunction, mandamus or other proceedings, protect and enforce any and all rights under the provisions of the general statutes or granted by sections 32-80a to 32-80c , inclusive, or under such trust indenture or agreement or the resolution authorizing the issuance of such bonds, notes or certificates, and may enforce and compel the performance of all duties required by said sections or by such trust indenture or agreement or solution to be performed by the energy improvement district board or by any officer or agent thereof, including the fixing, charging and collection of fees, rents and other charges.
Conn. Gen. Stat. § 32-23hh — Connecticut Code / Title 32 / Chapter 579 / Section 32-23hh
Sec. 32-23hh. Definitions.
Status: in_force

(1) “Corporation” means Connecticut Innovations, Incorporated, created under section 32-35 ;

(2) “Chief executive officer” means the chief executive officer of Connecticut Innovations, Incorporated;

(3) “Financial assistance” means any and all forms of loans, extensions of credit, guarantees, equity investments or any other form of financing or refinancing to persons for the purchase, acquisition, construction, expansion, continued operation, reconstruction, financing, refinancing or placing in operation of an economic development project, including, but not limited to, fixed assets, working capital, equity participations and acquisitions, employee buyouts, refinancing, financial restructuring, and other purposes which the corporation determines further the purposes of sections 32-23gg to 32-23 ll , inclusive;

(4) “Economic development project” means any project (A) which is to be used or occupied by any person for manufacturing, industrial, research or product warehousing or distribution purposes, or any combination thereof, and which the corporation determines will tend to maintain or provide gainful employment, maintain or increase the tax base of the economy, or maintain, expand or diversify industry in the state, or for any other purpose which the corporation determines will materially support the economic base of the state, by creating or retaining jobs, promoting the export of products or services beyond state boundaries, encouraging innovation in products or services, or otherwise contributing to, supporting or enhancing existing activities that are important to the economic base of the state and (B) which is unable to obtain conventional financing in satisfactory amounts or on satisfactory terms in the sole judgment of the corporation, or whose ability, in the judgment of the corporation, to start, continue to operate, expand, or maintain operations or relocate to Connecticut, is dependent upon financial assistance;

(5) “Person” means a person as defined in subsection (s) of section 32-23d ; and

(6) “Return on investment” means any and all forms of principal or interest payments, insurance premiums or guarantee fees, equity participations, options, warrants, debentures and any or all other forms of remuneration to the corporation in return for any financial assistance provided or offered.
Conn. Gen. Stat. § 32-324h — Connecticut Code / Title 32 / Chapter 588p / Section 32-324h
Sec. 32-324h. Institute for Sustainable Energy to educate consumers re biodiesel. Connecticut biodiesel link program. Posting of information on Internet.
Status: in_force

(b) The Institute for Sustainable Energy shall post educational materials regarding the Connecticut biofuel link program on said institute's Internet web site, and such information shall be posted as a link on the Internet web sites of the Department of Economic and Community Development, the Department of Agriculture, The Connecticut Agricultural Experiment Station, The University of Connecticut Biofuel Consortium and The University of Connecticut Cooperative Extension System, including, but not limited to, information regarding the starting of a waste vegetable oil business and strategies for conducting such business.
Conn. Gen. Stat. § 32-41n — Connecticut Code / Title 32 / Chapter 581 / Section 32-41n
Sec. 32-41n. Critical technologies grant program.
Status: in_force

(b) On or before January 1, 1995, the corporation shall review all applications timely received pursuant to this section, may approve such applications and provide approved grant recipients such financial assistance as it may determine will promote technology deployment in advanced materials, marine sciences, photonics, pharmaceutical and environmental technologies. In approving such application the corporation shall assess scientific and economic factors concerning the uses of the proposed grant, including but not limited to the following:

(1) The formal participation in the program proposed by businesses actively engaged in the commercial use of advanced materials, marine sciences, photonics, pharmaceutical and environmental technologies;

(2) The likelihood that the program proposed will result in substantial and timely deployment of advanced available technologies in one or more of the following: Advanced materials, marine sciences, photonics, pharmaceutical and environmental technologies;

(3) The proposal's plan to involve minority students or minority-owned businesses in its activities; and

(4) The adequacy of the program's mechanisms for evaluating its progress.
Conn. Gen. Stat. § 32-224 — Connecticut Code / Title 32 / Chapter 588l / Section 32-224
Sec. 32-224. Designation of implementing agency. Development plan. Public service facilities. Acquisition of real property for project. Limitations.
Status: in_force

(b) The implementing agency may initiate a municipal development project by preparing and submitting a development plan to the commissioner. Such plan shall meet an identified public need and include: (1) A legal description of the real property within the boundaries of the project area; (2) a description of the present condition and uses of such real property; (3) a description of the process utilized by the agency to prepare the plan and a description of alternative approaches considered to achieve project objectives; (4) a description of the types and locations of land uses or building uses proposed for the project area; (5) a description of the types and locations of present and proposed streets, sidewalks and sanitary, utility and other facilities and the types and locations of other proposed project improvements; (6) statements of the present and proposed zoning classification and subdivision status of the project area and the areas adjacent to the project area; (7) a plan for relocating project area occupants; (8) a financing plan; (9) an administrative plan; (10) an environmental analysis, marketability and proposed land use study, or building use study if required by the commissioner; (11) appraisal reports and title searches if required by the commissioner; (12) a description of the public benefit of the project, including, but not limited to, (A) the number of jobs which the implementing agency anticipates would be created or retained by the project, (B) the estimated property tax benefits, (C) the number and types of existing housing units in the municipality in which the project would be located, and in contiguous municipalities, which would be available to employees filling such jobs, (D) a general description of infrastructure improvements, including public access, facilities or use, that the implementing agency anticipates may be needed to implement the development plan, (E) a general description of the implementing agency's goals for blight remediation or, if known, environmental remediation, (F) a general description of any aesthetic improvements that the implementing agency anticipates may be generated by the project, (G) a general description of the project's intended role in increasing or sustaining market value of land in the municipality, (H) a general description of the project's intended role in assisting residents of the municipality to improve their standard of living, and (I) a general statement of the project's role in maintaining or enhancing the competitiveness of the municipality; (13) a finding that (A) the land and buildings within the boundaries of the project area will be used principally for manufacturing or other economic base business purposes or business support services; (B) the plan is in accordance with the plan of conservation and development for the municipality, if any, adopted by its planning commission under section 8-23 , and the plan of development of the regional council of governments adopted under section 8-35a , if any, for the region within which the municipality is located; (C) the plan was prepared giving due consideration to the state plan of conservation and development adopted under chapter 297 and other state-wide planning program objectives of the state or state agencies as coordinated by the Secretary of the Office of Policy and Management; and (D) the project will contribute to the economic welfare of the municipality and the state and that to carry out and administer the project, public action under sections 32-220 to 32-234 , inclusive, is required; and (14) a preliminary statement describing the proposed process for acquiring each parcel of real property, including findings that (A) public benefits resulting from the plan will outweigh any private benefits; (B) existing use of the real property cannot be feasibly integrated into the overall plan for the project; (C) acquisition by eminent domain is reasonably necessary to successfully achieve the objectives of such plan; and (D) the plan is not for the primary purpose of increasing local tax revenues. The provisions of this subsection with respect to submission of a development plan to and approval by the commissioner and with respect to a finding that the plan was prepared giving due consideration to the state plan of conservation and development and state-wide planning program objectives of the state or its agencies shall not apply to a project for which no financial assistance has been given and no application for financial assistance is to be made under section 32-223 . Any plan that has been prepared under chapters 130, 132 or 588a may be submitted by the implementing agency to the legislative body of the municipality and to the commissioner in lieu of a plan initiated and prepared in accordance with this section, provided all other requirements of sections 32-220 to 32-234 , inclusive, for obtaining the approval of the commissioner of the development plan are satisfied. Any action taken in connection with the preparation and adoption of such plan shall be deemed effective to the extent such action satisfies the requirements of said sections.

(c) (1) No plan shall be adopted unless the planning commission of the municipality finds that the plan is in accord with the plan of development, if any, for the municipality and the regional council of governments organized under section 4-124j for the region within which such municipality is located finds that such plan is in accord with the plan of development, if any, for such region. If the regional council of governments fails to make a finding concerning the plan within thirty-five days of receipt thereof, by such council, it shall be presumed that such council does not disapprove of the plan. The implementing agency shall hold at least one public hearing on the plan and shall cause notice of the time, place, and subject of any public hearing to be published at least once in a newspaper of general circulation in the municipality not less than one week nor more than three weeks prior to the date of such public hearing. At least thirty-five days prior to the public hearing, the implementing agency shall post the plan on the Internet web site of the implementing agency, if any. Upon adoption of the plan the implementing agency shall submit the plan to the legislative body of the municipality for approval or disapproval. Any approval by the implementing agency and legislative body of the municipality made under this section shall specifically provide for approval of any findings contained therein. After approval of the plan by the legislative body of the municipality, the plan shall be submitted to the commissioner for his approval. If the commissioner requires a substantial modification of the plan as a condition of approval, the plan shall be subject to a public hearing and approval by the implementing agency and the legislative body of the municipality in accordance with the provisions of this subsection.

(2) The plan shall be effective for a period of ten years after the date of approval and may be amended in accordance with this section. The legislative body shall review the plan at least once every ten years after the initial approval, and shall reapprove the plan or an amended plan at least once every ten years after the initial approval in accordance with this section in order for the plan or amended plan to remain in effect. With respect to a development plan for a project that is funded in whole or in part by federal funds, the provisions of this subdivision shall not apply to the extent that such provisions are prohibited by federal law.

(d) The implementing agency shall cause notice of the initial approval of the plan to be published in a newspaper having general circulation in the municipality.

(e) A development plan may be modified at any time by the implementing agency, provided, if modified after the lease or sale of real property in the project area, the lessees or purchasers of such real property or their successor or successors in interest affected by the proposed modification shall consent to such modification. If the proposed modification will substantially alter the development plan as previously approved, the modification shall be subject to the approval of the local legislative body of the municipality and the commissioner in the same manner as approval of the development plan. The municipality may, by vote of its legislative body, abandon the development plan and convey such real property within the boundaries of the project area free of any restriction, obligation or procedure imposed by the plan subject to all other local and state laws, ordinances or regulations, including, but not limited to, any offer of sale required under subsection (i) of this section, if after three years from the date of approval of the plan the implementing agency has not transferred by sale or lease all or any part of the real property acquired in the project area to any person in accordance with the development plan and no grant of financial assistance under sections 32-220 to 32-234 , inclusive, has been given for such project other than for activities related to the planning of the project pursuant to section 32-222 .

(f) The implementing agencies of two or more municipalities may, after approval by each legislative body thereof, jointly initiate a development project if the project area is to be located in one or more of such municipalities. Such implementing agencies, after approval by the commissioner of the development plan for the project if any state aid is to be requested under section 32-223 , may enter into and amend subject to the approval of the commissioner, an agreement to jointly carry out the development plan. Such agreement may include provisions for furnishing municipal services to the project and sharing costs of and revenues from the project, including property tax and rental receipts. The development plan shall include a proposed form of the agreement to be entered into by the municipalities. Each municipality which is a party to an agreement may make appropriations and levy taxes in accordance with the provisions of the general statutes and may issue bonds in accordance with section 32-227 to further its obligations under the agreement.

(g) As used in this subsection, “public service facility” includes any sewer, pipe, main conduit, cable, wire, pole, tower, building or utility appliance owned or operated by an electric distribution, gas, telephone or water company. Whenever an implementing agency determines that the closing of any street or public right-of-way is provided for in a development plan adopted and approved in accordance with sections 32-220 to 32-234 , inclusive, or where the carrying out of such a development plan, including the construction of new improvements, requires the temporary or permanent readjustment, relocation or removal of a public service facility from a street or public right-of-way, the implementing agency shall issue an appropriate order to the company owning or operating such facility. Such company shall permanently or temporarily readjust, relocate or remove the public service facility promptly in accordance with such order, provided an equitable share of the cost of such readjustment, relocation or removal, including the cost of installing and constructing a facility of equal capacity in a new location, shall be borne by the implementing agency. Such equitable share shall be fifty per cent of such cost after the deduction hereinafter provided. In establishing the equitable share of the cost to be borne by the implementing agency, there shall be deducted from the cost of the readjusted, relocated or removed facilities a sum based on a consideration of the value of materials salvaged from existing installations, the cost of the original installation, the life expectancy of the original facility and the unexpired term of such life use. The books and records of the company shall be made available for inspection by the implementing agency to determine the equitable share of the cost of such readjustment, relocation or removal. When any facility is removed from a street or public right-of-way to a private right-of-way, the implementing agency shall not pay for such private right-of-way. If the implementing agency and the company owning or operating such facility cannot agree upon the share of the cost to be borne by the implementing agency, such agency or the company may apply to the superior court for the judicial district within which the street or public right-of-way is situated, or, if the court is not in session, to any judge thereof, for a determination of the cost to be borne by the implementing agency. The court or the judge, after causing notice of the pendency of such application to be given to the other party, shall appoint a state referee to make such determination. The referee, having given at least ten days' notice to the interested parties of the time and place of the hearing, shall hear both parties, take such testimony as he may deem material and thereupon determine the amount of the cost to be borne by the implementing agency. The referee shall immediately report the amount to the court. If the report is accepted by the court, such determination shall, subject to right of appeal as in civil actions, be conclusive upon such parties.

(h) After approval of the development plan pursuant to sections 32-220 to 32-234 , inclusive, the implementing agency may by purchase, lease, exchange or gift acquire or rent real property necessary or appropriate for the project as identified in the development plan and real property and interests therein for rights-of-way and other easements to and from the project area.

(i) (1) The implementing agency may, with the approval of the legislative body of the municipality, and in the name of the municipality, condemn in accordance with section 8-128 to 8-133 , inclusive, any real property necessary or appropriate for the project as identified in the development plan, including real property and interests in land for rights-of-way and other easements to and from the project area, except that no real property may be condemned pursuant to this subsection for the primary purpose of increasing local tax revenue.

(2) The implementing agency shall conduct a public hearing on any proposed acquisition of real property by condemnation pursuant to this subsection. The implementing agency shall cause notice of the time, place and subject of the hearing to be published in a newspaper having a substantial circulation in the municipality not more than ten days before the date set for the hearing. Not less than ten days before the date of the hearing, the implementing agency shall send, by first class mail, notice of the time, place and subject of the hearing to the owners of record of the real property and to all owners of real property within one hundred feet of the real property to be acquired by condemnation.

(3) (A) No parcel of real property may be acquired by condemnation under this section except by approval by vote of at least two-thirds of the members of the legislative body of the municipality, or, in the case of a municipality for which the legislative body is a town meeting or a representative town meeting, the board of selectmen. Such approval shall be by (i) separate vote on each parcel of real property to be acquired, or (ii) a vote on one or more groups of such parcels, provided each parcel to be acquired is identified for the purposes of a vote on a group of such parcels under this subparagraph. The legislative body or the board of selectmen, as the case may be, shall not approve the use of condemnation by the implementing agency unless the legislative body or board of selectmen has (I) considered the benefits to the public and any private entity that will result from the municipal development project and determined that the public benefits outweigh any private benefits, (II) determined that the current use of the real property cannot be feasibly integrated into the overall development plan, and (III) determined that the acquisition of the real property by condemnation is reasonably necessary to successfully achieve the objectives of the development plan.

(B) The municipality shall cause notice of any approved acquisition by condemnation under this subdivision to be published in a newspaper having a substantial circulation in the municipality not more than ten days after such approval.

(C) (i) The implementing agency shall acquire any property identified in the plan as property to be acquired by condemnation by a date that is five years after the date the first property is acquired by condemnation under the plan unless the implementing agency approves an extension of the time for acquisition, except that no property may be acquired by condemnation under the plan more than ten years after the first property is acquired by condemnation under the plan.

(ii) With respect to a development plan for a project that is funded in whole or in part by federal funds, the provisions of this subparagraph shall not apply to the extent that such provisions are prohibited by federal law.

(4) The owner-occupant of property acquired by condemnation under this section may file an application in the superior court for the judicial district in which the municipality is located to enjoin the acquisition of such property. The court may issue such injunction if the court finds that the implementing agency or municipality failed to comply with the requirements of this section. The filing of an application to enjoin the acquisition of property by condemnation, in a court of competent jurisdiction, shall toll the five-year period or ten-year period set forth in subparagraph (C) of subdivision (3) of this subsection with respect to such property until the date a final judgment is entered in any such action, or any appeal thereof, whichever date is later.

(j) (1) With respect to real property acquired by condemnation pursuant to this section on or after June 25, 2007, if the municipality does not use the real property for the purpose for which it was acquired or for some other public use and seeks to sell the property, the municipality shall first offer the real property for sale pursuant to subdivision (2) of this subsection to the person from whom the real property was acquired, or heirs of the person designated pursuant to subdivision (2) of this subsection, if any, for a price not to exceed the lesser of (A) the amount paid by the implementing agency to acquire the property, or (B) the fair market value of the property at the time of any sale under this subsection. After the municipality provides notice pursuant to subdivision (2) of this subsection, the municipality may not sell such property to a third party unless the municipality has permitted the person or named heirs six months during which to exercise the right to purchase the property, and an additional six months to finalize the purchase if the person or named heirs provide the municipality with notice of intent to purchase the property within the initial six-month period.

(2) For the purposes of any offer of sale pursuant to this subsection, the municipality shall provide a form to any person whose property is acquired by condemnation pursuant to this section to permit such person to provide an address for notice of sale to be sent, or to provide the name and address of an agent to receive such notice. Such form shall be designed to permit the person to designate heirs of the person who shall be eligible to purchase such property pursuant to this subsection. The person or agent shall update information in the form in writing. If the person or agent does not provide or update the information in the form in a manner that permits the municipality to send notice of sale pursuant to this subsection, no such notice shall be required.

(3) With respect to a development plan for a project that is funded in whole or in part by federal funds, the provisions of this subsection shall not apply to the extent that such provisions are prohibited by federal law.
Conn. Gen. Stat. § 32-775 — Connecticut Code / Title 32 / Chapter 588gg / Section 32-775
Sec. 32-775. Obligations re acquisition, ownership and transfer of real property.
Status: in_force

(b) A Connecticut brownfield land bank shall acquire only brownfield sites and other real property, located adjacent or in close proximity to brownfield sites to be acquired, that are (1) identified in a land banking agreement between such Connecticut brownfield land bank and the municipality in which such properties are located, or (2) identified in a land banking agreement between such Connecticut brownfield land bank and the regional council of governments that represents the municipality in which such properties are located.

(c) A Connecticut brownfield land bank shall maintain and make available for public review and inspection an inventory of all real property held by such land bank.

(d) A Connecticut brownfield land bank shall determine and set forth in policies and procedures the general terms and conditions for consideration to be received by such land bank for the transfer to such land bank of real property and interests in real property, which consideration may take the form of monetary payments and secured financial obligations, covenants and conditions related to the present and future use of such real property, contractual commitments of the transferee, and such other forms of consideration as determined by the board of directors to be in the best interest of such land bank.

(e) A Connecticut brownfield land bank may convey, exchange, sell, transfer, lease as lessee, grant, release and demise, pledge and hypothecate any and all interests in, upon or to real property of the brownfield land bank, provided such land bank may only convey, exchange, transfer or sell real property with the approval of (1) the municipality in which such real property is located pursuant to the terms of a land banking agreement entered into with such municipality, or (2) the regional council of governments that represents the municipality in which such real property is located, pursuant to the terms of a land banking agreement entered into with such regional council of governments.
Conn. Gen. Stat. § 32-41ll — Connecticut Code / Title 32 / Chapter 581 / Section 32-41ll
Sec. 32-41ll. (Formerly Sec. 19a-32f). Development of donated funds program to encourage regenerative medicine research. Administration of Regenerative Medicine Research Fund.
Status: in_force

(b) Connecticut Innovations, Incorporated, shall serve as administrator of the Regenerative Medicine Research Fund and shall: (1) Develop the application for the financial assistance authorized under subsection (b) of section 32-41kk ; (2) review such applications; (3) review recommendations of peer reviewers pursuant to section 32-41mm ; (4) prepare and execute any assistance agreements or other agreements in connection with the awarding of such financial assistance; (5) develop performance metrics and systems to collect data from recipients of such financial assistance; and (6) collect information from such recipients concerning each recipient's employment statistics, business accomplishments and performance outcomes, peer review articles and papers published, partnerships and collaborations with other entities, licenses, patents and invention disclosures, scientific progress as it relates to the commercialization of intellectual property funded by such financial assistance, efforts to commercialize such intellectual property, and other funds received for research.
Conn. Gen. Stat. § 32-9i — Connecticut Code / Title 32 / Chapter 578 / Section 32-9i
Sec. 32-9i. Job incentive grant program for businesses in areas of high unemployment.
Status: in_force

(b) Amounts in the job incentive account shall be used for the purpose of making such grants to businesses which are eligible for such assistance, and which make application for and receive approval for such assistance from the Commissioner of Economic and Community Development.
Conn. Gen. Stat. § 32-655 — Connecticut Code / Title 32 / Chapter 588z / Section 32-655
Sec. 32-655. Powers and duties of the Secretary of the Office of Policy and Management.
Status: in_force

(1) Acquire, by condemnation, gift, purchase, lease, lease-purchase, exchange or otherwise, the real property comprising the Adriaen's Landing site and the stadium facility site and such other real property determined to be necessary by the secretary for off-site infrastructure improvements related to the development of the Adriaen's Landing site or the stadium facility site or for temporary use for construction staging or replacement parking during the period of construction as contemplated by the master development plan, including the exchange of real property acquired by the secretary under authority of this chapter for other real property in circumstances where the secretary determines that such exchange will better conform site boundaries to final plans or otherwise facilitate the layout, development or financing of the public and private improvements contemplated by the master development plan;

(2) Select, engage and compensate surveyors, appraisers, engineers, architects and other providers of professional, management, financial or technical services and undertake or arrange for engineering, architectural, environmental, legal, fiscal and economic investigations and studies, surveys, designs, plans, working drawings, specifications, procedures and other activities incidental thereto;

(3) Lease or sublease, as lessor or lessee or sublessor or sublessee, convey, and grant temporary or permanent easements and rights-of-way and enter into access, support, common area maintenance and similar agreements with respect to, any real property in connection with the overall project and the on-site related private development, including leases or subleases, as lessor or lessee or sublessor or sublessee, of off-site real property in connection with site acquisition arrangements, on terms to be determined by the secretary;

(4) Enter into agreements, pursuant to which the state may be obligated, among other things, to (A) acquire or provide the stadium facility site, or all or any portion of the Adriaen's Landing site, (B) provide bond proceeds or other state moneys with which to pay project costs, and (C) plan, undertake, perform or otherwise provide for the site preparation, the implementation of the infrastructure improvements and the development of the overall project, and, upon completion or at such other time determined by the secretary and the authority, transfer to the authority ownership of, and any other rights and obligations of the secretary with respect to the related parking facilities;

(5) Plan, design, develop, construct, finish, furnish, equip, replace, alter, restore, reconstruct, improve or enlarge and enhance the overall project and engage in other activities incidental thereto, including the coordination of public and private parking facilities, and, subject to section 32-656 , enter into such construction, development, project management, construction management, design-build or other types of contracts or arrangements with respect to the overall project and, subject to the proper allocation of costs, all or any portion of the on-site related private development including provisions with respect to incentive fees for timely completion of improvements at or under budget and such requirements with respect to GMP, adherence to the project schedule, assumption of force majeure and completion risk, surety and performance bonding, insurance, letters of credit and financial guarantees and other assurances of performance and completion as the secretary determines to be appropriate in order to assure adherence to the project budget or may otherwise deem prudent, expedient and in the best interests of the state, provided that the development or project management agreement with the project manager shall require that construction contracts for all major elements of the overall project for which the project manager is responsible be awarded on a GMP basis at prices consistent with the project budget unless the Secretary determines that a waiver of the GMP requirement is in the best interest of the state;

(6) License or manage any retail or commercial areas within the stadium facility and engage in other activities incidental thereto;

(7) Undertake, perform or otherwise provide for stadium facility operations, establish and carry out booking and scheduling policies, marketing and promotional programs and box office and ticketing operations, fix rental, usage, license, event-related and parking fees and charges, enter into lease, license or other agreements with respect to university and other events at the stadium facility and related uses, which shall give priority in scheduling to university home football games and which may give priority in scheduling to other university-sponsored events, enter into management contracts with respect to the overall management and operation of the stadium facility and stadium parking, and enter into other agreements with respect to stadium facility operations including, but not limited to, event leases, licenses or similar arrangements, the sale of naming rights, ticketing, advertising, media, broadcast, concessions, merchandising, marketing, facility maintenance, common area maintenance, safety, security, utility, service, supply and similar contracts, easements and rights-of-way for stadium facility access, and lease, license, rental or other use agreements for stadium parking, including the parking license agreement with United Technologies Corporation contemplated by section 32-650 , and arrangements for off-site parking and shuttle service, sufficient to satisfy projected peak stadium facility parking demand;

(8) Coordinate the overall project and stadium facility operations with other departments or agencies of the state, any municipality, political subdivision, quasi-public agency, public authority or other public body including, but not limited to, the university, the Metropolitan District Commission and the authority, each of which, notwithstanding any provision of the general statutes, may enter into a written agreement with the secretary and, if necessary, any private party respecting the coordination, funding, performance and completion of such work and activities;

(9) Coordinate the overall project with any developer, private investor, general contractor, construction manager or other participant with respect to all or any part of the on-site related private development, enter into such agreements with such developers, private investors, general contractors, construction managers or other participants as may be necessary or appropriate to facilitate the coordinated development of the overall project and the on-site related private development, including with respect to site assembly, site preparation, common area maintenance and security and similar arrangements, or to secure private investment commitments for related private development, including agreements with respect to the sequence and schedule of public and private investment in the overall project and the on-site related private development;

(10) Arrange for, participate in, pay for or contribute to and procure directly or through the authority or a private entity or private entities, such policy or policies of insurance with respect to the overall project and stadium facility operations as the secretary shall determine is appropriate, necessary or desirable, including, but not limited to an owner-controlled insurance program or an insurance program consolidated in such manner as the secretary, the authority and such private entity and entities determine is appropriate with respect to general liability, environmental liability, professional liability, casualty, property, title, business interruption, business risk, force majeure, completion and other insurable risks including extra expense or other insurance coverages associated with and available for such risks in connection therewith, including in lieu of any of the foregoing such financial guarantees as may be available for such risks. The costs of any such insurance program or financial guarantees allocable to any aspect of the overall project are confirmed as within the meaning of project costs;

(11) Make and execute any other contracts and all other instruments necessary or convenient or desirable for the exercise of the powers and functions of the state and coordinate, delegate, implement and complete any or all of the overall project;

(12) Delegate or assign to the authority or any other agency, department or public instrumentality of the state, including any quasi-public agency, such rights, interests, activities, responsibilities and obligations of the secretary as, in the opinion of the secretary, are appropriate, necessary or desirable in order to effectuate the overall project or to provide for stadium facility operations;

(13) Accept gifts, grants of funds, property or services for the overall project, stadium facility operations or any aspect thereof from any source, public or private, and comply, subject to the provisions of sections 32-650 to 32-668 , inclusive, with the terms and conditions of such gift or grant, provided nothing in sections 32-650 to 32-668 , inclusive, shall be construed to authorize the expenditure for project costs of the overall project of other state funds not authorized, appropriated or otherwise designated for such purpose pursuant to sections 32-650 to 32-668 , inclusive, or otherwise identified for such purpose in the master development plan as filed with the clerks of the Senate and the House of Representatives on March 3, 2000, and further provided nothing in said sections 32-650 to 32-668 , inclusive, shall be construed to authorize the expenditure for project costs of the stadium facility project of any state funds other than those authorized under section 32-652 ;

(14) Pay or reimburse the Office of Policy and Management, the authority, the university and other affected state agencies and political subdivisions of the state and any third parties incurring such costs at the request or with the approval of the state as certified by the secretary, for project costs of the overall project including, without limitation, preliminary costs arising prior to July 1, 1999, or costs under subsection (c) of section 32-605 or sections 32-654 , 32-654a , 32-655a , 32-655b and 32-666a ; and

(15) Do any and all other things necessary or convenient to carry out the purposes of and exercise the powers expressly granted pursuant to the secretary under sections 32-650 to 32-668 , inclusive.

(b) The secretary, through the chief elected official of the town of East Hartford, shall establish an ongoing process for community input to the secretary and the stadium facility manager as to matters of local concern relating to the operation of the stadium facility. Such process shall include the establishment of a local advisory committee for the purpose of identifying, discussing and formulating recommendations with respect to ongoing relations between the stadium facility and the town of East Hartford. Such advisory committee shall be chaired by the chief elected official of the town of East Hartford and shall include two residents of the town of East Hartford living in the vicinity of the stadium facility and representatives of the stadium facility manager, the party furnishing the stadium facility site, the police department and the fire department of the town of East Hartford, the Office of Policy and Management and the university. Such advisory committee shall meet as needed as determined by the chief elected official of the town of East Hartford. Members of such advisory committee shall serve without compensation. The agreement with the stadium facility manager shall include such limitations on types of events and hours of operation at the stadium facility as the secretary shall determine to be reasonable and appropriate in light of the public purposes of the stadium facility and the impact of stadium operations on neighboring areas in the town of East Hartford. The secretary shall enter into an agreement with the town of East Hartford and any other affected town providing for the reimbursement of the reasonably determined incremental costs to such towns of additional public safety personnel required prior to, during and following events at the stadium facility as a result of expected crowds, traffic and other event-related activities. Such costs may be allocated by agreement between the secretary and the university and other event sponsors.

(c) The secretary shall designate a stadium facility operations contract compliance officer from the Office of Policy and Management to monitor compliance of the stadium facility operations with the provisions of state law applicable to such operations, including, but not limited to, subsection (c) of section 32-605 and sections 32-650 to 32-668 , inclusive, and with applicable requirements of contracts entered into by the secretary, relating to set-asides for small contractors and minority business enterprises and required efforts to hire available and qualified members of minorities, as defined in section 32-9n , and available and qualified residents of the town of East Hartford and the city of Hartford for jobs in such operations. Such officer shall file, each year during the period of stadium facility operations, a written report with the secretary as to findings and recommendations regarding such compliance.
Conn. Gen. Stat. § 32-265 — Connecticut Code / Title 32 / Chapter 588n / Section 32-265
Sec. 32-265. Connecticut Capital Access Fund. Written procedures. Bond authorization for Capital Access Fund and small business assistance program.
Status: in_force

(b) In order to stimulate and encourage the growth and development of the state economy, the Connecticut Capital Access Fund is created to provide portfolio insurance to participating financial institutions to assist them in making loans that are somewhat riskier than conventional loans. The insurance shall be based on a portfolio insurance mechanism applicable to loans enrolled by a financial institution in the program, rather than loans by loan guarantees. The state, acting through Connecticut Innovations, Incorporated, shall enter into a participation agreement with each financial institution approved to participate in the program. A participation agreement entered into by the corporation and a financial institution shall establish a separate loan loss reserve account within such financial institution or a third-party financial institution approved by Connecticut Innovations, Incorporated, owned and controlled by Connecticut Innovations, Incorporated, but earmarked to cover losses on loans enrolled by that financial institution in the program. A separate loan loss reserve account shall be established for each participating financial institution. Each time a financial institution enrolls a loan in the program, payments shall be made into the earmarked loan loss reserve account by the borrower, financial institution and the corporation, in amounts consistent with the provisions of the participation agreement. The financial institution shall be allowed to recover the cost of its payment from the borrower.

(c) To carry out the purposes of this section, the corporation shall have those powers set forth in section 32-23 . The corporation shall also have the power to take all reasonable steps and exercise all available remedies necessary or desirable to protect the obligations or interests of the corporation including, but not limited to, the purchase or redemption in foreclosure proceedings, bankruptcy proceedings or in other judicial proceedings of any property on which it holds a mortgage or other lien or in which it has an interest, and for such purposes payment may be made from the Connecticut Capital Access Fund.

(d) Approval of loans for which payments may be made into an account established under this section shall be within the sole discretion of the financial institution making the loan except that such loans shall comply with the requirements specified in the participation agreement.

(e) The corporation shall adopt written procedures in accordance with section 1-121 for implementing the program. Such written procedures shall include the form of participation agreement which shall set forth procedures for use of the program and the rights and responsibilities of participating financial institutions and the corporation. The participation agreement shall require that loans enrolled in the program shall be for a business purpose in the state and shall not be used for residential housing, passive real estate ownership, an insider transaction or to refinance a prior loan by the financial institution which was not covered under the program, except that if new funds are provided to a borrower, an amount equal to the amount of the new funds may be covered under the program.

(f) (1) For the purposes described in subdivision (2) of this subsection, the State Bond Commission shall have the power, from time to time, to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate five million dollars.

(2) The proceeds of the sale of said bonds, to the extent of the amount stated in subdivision (1) of this subsection, shall be used by the Department of Economic and Community Development to make grants to Connecticut Innovations, Incorporated for deposit in the Connecticut Capital Access Fund to be used for the purposes authorized under this section and section 32-341 .

(3) All provisions of section 3-20 , or the exercise of any right or power granted thereby which are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section, and temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with said section 3-20 and from time to time renewed. Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds. None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization, which is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require. Said bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on said bonds as the same become due, and accordingly and as part of the contract of the state with the holders of said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the Treasurer shall pay such principal and interest as the same become due.
Conn. Gen. Stat. § 32-286 — Connecticut Code / Title 32 / Chapter 588n / Section 32-286
Sec. 32-286. Qualified data centers. Tax exemptions. Negotiated host municipality fee agreement.
Status: in_force

(1) “Colocation tenant” means a person that contracts with the owner or operator of a qualified data center to use or occupy all or part of a qualified data center for a period of at least two years;

(2) “Eligible qualified data center costs” means expenditures made on or after July 1, 2021, for the development, acquisition, construction, rehabilitation, renovation, repair or operation of a facility to be used as a qualified data center, including the cost of land, buildings, site improvements, modular data centers, lease payments, site characterization and assessment, engineering services, design services and data center equipment acquisition and permitting related to such data center equipment acquisitions. “Eligible qualified data center costs” does not include expenditures made in connection with real or personal property that is located outside the boundaries of the facility to be used as a qualified data center;

(3) “Enterprise information technology equipment” means:

(A) Hardware that support computing, networking or data storage functions, including servers and routers;

(B) Networking systems equipment that support computing, networking or data storage functions and have an industry designation as equipment within the enterprise class or data center class of networking systems; and

(C) Generators and other equipment used to ensure an uninterrupted power supply for the hardware and networking systems equipment under subparagraph (A) or (B) of this subdivision;

(4) “Facility” means one or more contiguous tracts of land in the state and any structure and personal property contained on such land;

(5) “Operator” means a person that contracts with the owner of a qualified data center to operate such qualified data center;

(6) “Owner” means a person that holds a leasehold estate in excess of fifty years or a fee title to a facility;

(7) “Person” means an individual, an estate, a trust, a receiver, a cooperative association, a corporation, a company, a firm, a partnership, a limited partnership, a limited liability company, a limited liability partnership or a joint venture;

(8) “Qualified data center” means a facility that is developed, acquired, constructed, rehabilitated, renovated, repaired or operated, to house a group of networked computer servers in one physical location or multiple contiguous locations to centralize the storage, management and dissemination of data and information pertaining to a particular business or classification or body of knowledge;

(9) “Qualified data center equipment” means computer equipment, software and hardware purchased or leased for the processing, storage, retrieval or communication of data, including:

(A) Computer servers, routers, connections, chassis, networking equipment, switches, racks, fiber optic and copper cables, trays, conduits and other enabling machinery, equipment and hardware, regardless of whether such personal property is affixed to or incorporated into real property;

(B) Equipment used in the operation of computer equipment or software for the benefit of a qualified data center, including component parts, replacement parts and upgrades, regardless of whether the personal property is affixed to or incorporated into real property;

(C) Equipment necessary for the transformation, generation, distribution or management of electricity that is required to operate computer servers and related equipment, including substations, generators, uninterruptible energy equipment, supplies, conduits, fuel piping and storage, cabling, duct banks, switches, switchboards, batteries and testing equipment;

(D) Equipment necessary to cool and maintain a controlled environment for the operation of computer servers and other equipment of a qualified data center, including chillers, mechanical equipment, refrigerant piping, fuel piping and storage, adiabatic and free cooling systems, cooling towers, water softeners, air handling units, indoor direct exchange units, fans, ducting and filters;

(E) Water conservation systems, including equipment designed to collect, conserve and reuse water;

(F) Conduit, ducting and fiber optic and copper cables located outside the qualified data center, that are directly related to connecting one or more qualified data center locations;

(G) Monitoring equipment and security systems;

(H) Modular data centers and preassembled components of any item described in this subsection, including components used in the manufacturing of modular data centers; and

(I) Any other personal property, exclusive of motor vehicles, that is essential to the operations of a qualified data center or that is acquired for incorporation into or used or consumed in the operation of the qualified data center; and

(10) “Qualified investment” means the aggregate, nonduplicative eligible qualified data center costs expended by an owner, operator and colocation tenant of a qualified data center.

(b) Any person that anticipates it will own, operate or be a colocation tenant in a qualified data center in this state may apply to the Commissioner of Economic and Community Development to enter into an agreement in accordance with the provisions of subsection (c) of this section, for exemption from the taxes imposed under chapters 203 and 219 as set forth in subsections (d) and (e) of this section.

(c) (1) Any person described in subsection (b) of this section that seeks an exemption under subsection (b) of this section shall submit an application to the Commissioner of Economic and Community Development, in a manner and form prescribed by the commissioner. If the commissioner approves such application, the commissioner shall enter into an agreement with such person, provided such person demonstrates to the satisfaction of the commissioner that:

(A) The facility to be developed, acquired, constructed, rehabilitated, renovated, repaired or operated will be used as a qualified data center; and

(B) The qualified data center will make, on or before the fifth anniversary of the date an agreement entered into pursuant to this section becomes effective, a qualified investment of at least (i) fifty million dollars if such qualified data center is located in an enterprise zone designated pursuant to section 32-70 or a federal qualified opportunity zone designated pursuant to the Tax Cuts and Jobs Act of 2017, P.L. 115-97, as amended from time to time, or (ii) two hundred million dollars if such qualified data center is not located in an enterprise zone or a federal qualified opportunity zone.

(2) Any agreement entered into pursuant to this subsection shall:

(A) Be for a period of twenty years, unless extended under the provisions of subdivision (3) of this subsection, from the date an agreement entered into pursuant to this section becomes effective, which may be in the year in which the construction, rehabilitation, renovation or repair of a qualified data center commences;

(B) Include a five-year qualifying period, from the date an agreement entered into pursuant to this section becomes effective, for the applicable qualified investment amount set forth in subparagraph (B) of subdivision (1) of this subsection to be reached;

(C) Include the payment of an annual fee by the qualified data center, to be determined annually by the commissioner and not to exceed fifty thousand dollars, for the administrative and operational costs of the Office of Data Infrastructure Administration and Security established under subdivision (5) of this subsection. Such fee shall be paid by the qualified data center to the commissioner during each year of such qualifying period or until the applicable qualified investment amount set forth in subparagraph (B) of subdivision (1) of this subsection is reached, whichever is sooner;

(D) Include a detailed description of the capital project that is the subject of the agreement;

(E) Provide that the provisions of the agreement shall be applicable, within the time period such agreement is effective and for the remaining duration of such time period, to any (i) subsequent owner of the qualified data center, (ii) operator or affiliate of the operator of the qualified data center, or (iii) colocation tenant, provided the facility continues to be used as a qualified data center; and

(F) Include provisions for the assessment and payment of the taxes exempted pursuant to such agreement and the rates or amounts of penalties and interest to be imposed thereon, if the commissioner determines that the requirements of the agreement or of a qualified data center are not being met or have not been met.

(3) If a qualified data center makes a qualified investment of at least (A) two hundred million dollars if such qualified data center is located in an enterprise zone designated pursuant to section 32-70 or a federal qualified opportunity zone designated pursuant to the Tax Cuts and Jobs Act of 2017, P.L. 115-97, as amended from time to time, or (B) four hundred million dollars if such qualified data center is not located in an enterprise zone or a federal qualified opportunity zone, the commissioner shall extend to thirty years the period for which an agreement entered into pursuant to this section is effective.

(4) Any qualified data center that enters into an agreement pursuant to this section and makes the applicable qualified investment amount set forth in subdivision (3) of this subsection, and any operator or affiliate of and colocation tenant of such qualified data center, shall be exempt from any financial transactions tax or fee that may be imposed by the state on trades of stocks, bonds, derivatives and other financial products. The exemption under this subdivision shall be effective for a period of thirty years from the date the construction, rehabilitation, renovation or repair of a facility is completed, as determined by the commissioner. The commissioner may incorporate the provisions of this subdivision into the agreement entered into pursuant to this section or amend an existing agreement with a qualified data center to incorporate the provisions of this subdivision.

(5) There is established an Office of Data Infrastructure Administration and Security within the Department of Economic and Community Development. The office shall (A) serve as the liaison between applicants and qualified data centers and other state agencies, (B) provide assistance to applicants and qualified data centers from the preapplication phase to the post-operational stage, and (C) seek to ensure coordinated, efficient and timely responses to applicants and qualified data centers.

(d) (1) With respect to the exemption from the taxes imposed under chapter 219, the Commissioner of Economic and Community Development shall notify the Commissioner of Revenue Services of any person that has entered into an agreement pursuant to this section. The Commissioner of Revenue Services shall provide to such person a certificate that exempts such person, and any contractor or subcontractor of such person, from such taxes for (A) the sale of and the storage, use or other consumption in this state of qualified data center equipment acquired for incorporation into or used and consumed in the development, acquisition, construction, rehabilitation, renovation, repair or operation of a facility that is used or to be used as a qualified data center, (B) the sale of and the acceptance, use or other consumption in this state of any service described under subdivision (37) of subsection (a) of section 12-407 , that is used and consumed in the development, acquisition, construction, rehabilitation, renovation, repair or operation of a facility that is used or to be used as a qualified data center, and (C) all electricity used by a qualified data center. Such person, and any contractor or subcontractor of such person, may use such certificate for the purchase, storage, use or other consumption in this state of qualified data center equipment, services and electricity as set forth in this subsection and each seller of such equipment, services or electricity may rely on such certificate.

(2) The certificate provided pursuant to subdivision (1) of this subsection shall apply, during the time period the agreement is effective, to:

(A) Any additional building or structure at a qualified data center to be developed, acquired, constructed, rehabilitated, renovated, repaired or operated, to house a group of networked computer servers, regardless of whether such development, acquisition, construction, rehabilitation, renovation, repair or operation was contemplated at the time of entering into the agreement; and

(B) Any additional qualified data center equipment, services and electricity acquired or used by such qualified data center after the date the agreement was entered into.

(e) (1) With respect to the exemption from the tax imposed under chapter 203, such exemption shall apply to (A) real property, buildings or structures, located within or at a qualified data center, and (B) enterprise information technology equipment used by a qualified data center.

(2) The exemption under this subsection shall apply, during the time period the agreement entered into pursuant to subsection (c) of this section is effective, to:

(A) Any additional building or structure at a qualified data center that is developed, acquired, constructed, rehabilitated, renovated, repaired or operated, to house a group of networked computer servers, regardless of whether any such development, acquisition, construction, rehabilitation, renovation, repair or operation was contemplated at the time of entering into the agreement;

(B) Any additional enterprise information technology equipment used by a qualified data center that is acquired after the date the agreement was entered into; and

(C) Any additional facility acquired by the owner of a qualified data center for the development, construction, rehabilitation, renovation, repair or operation of a qualified data center, after the date the agreement was entered into, provided such owner enters into a negotiated host municipality fee agreement as required under subdivision (4) of this subsection for each such additional facility.

(3) The Commissioner of Economic and Community Development shall notify each municipality in which such facility is located of any agreement entered into pursuant to this section and shall provide the identity of the person with which the commissioner has entered into such agreement, the date such agreement is effective and the terms of the agreement with respect to the exemption from the tax imposed under chapter 203.

(4) (A) No developer or owner shall commence construction, rehabilitation, renovation or repair of a facility that will be a qualified data center unless such owner has entered into a negotiated host municipality fee agreement with the municipality in which such facility is located. Such owner shall enter into a negotiated host municipality fee agreement for each additional facility that will be a qualified data center that such owner acquires. If a facility is located in contiguous municipalities, such owner shall enter into a negotiated host municipality fee agreement with each such municipality.

(B) Each negotiated host municipality fee agreement shall include provisions for the assessment and payment of the tax under chapter 203 exempted pursuant to the agreement entered into pursuant to subsection (c) of this section, and the rates or amounts of penalties and interest to be imposed thereon, if the legislative body of the municipality in which the qualified data center is located determines that the requirements of the negotiated host municipality fee agreement are not being met or have not been met.

(5) The chief elected official of the municipality in which a qualified data center is located shall notify the qualified data center if the legislative body of such municipality determines the requirements of a negotiated host municipality fee agreement entered into pursuant to subdivision (4) of this subsection are not being met or have not been met. The qualified data center shall cure such noncompliance not later than one hundred eighty days after the date of such notification. If the legislative body of such municipality determines the noncompliance has not been cured, the negotiated host municipality fee agreement shall be terminated.

(6) Upon the termination of a negotiated host municipality fee agreement pursuant to subdivision (5) of this subsection or subdivision (2) of subsection (f) of this section, the qualified data center, the owner of the property on which such qualified data center is located or such owner's successors or assigns shall be subject to the tax imposed under chapter 203 and shall be liable for payment of such taxes on the property that was exempted from such tax, from the date of noncompliance under subdivision (5) of this subsection or the date of termination under subdivision (2) of subsection (f) of this section, as applicable. Such liability shall attach to the property as a charge thereon. Such tax and any related penalty and interest shall be due, payable and collectible as other municipal taxes and subject to the same liens and processes of collection.

(f) (1) If the Commissioner of Economic and Community Development terminates an agreement entered into pursuant to subsection (c) of this section due to the commissioner's determination that the requirements of such agreement or of a qualified data center are not being met or have not been met, the commissioner shall notify the Commissioner of Revenue Services and the chief elected official of the municipality in which the applicable qualified data center is located of such termination.

(2) Any negotiated host municipality fee agreement entered into pursuant to subdivision (4) of subsection (e) of this section by such qualified data center shall be terminated as of the date the agreement entered into pursuant to subsection (c) of this section is terminated. The municipality in which such qualified data center is located may use any remedy authorized by the general statutes to secure the interests of such municipality and recover the amount of any fee, tax, penalty and interest that become due and owing to such municipality due to such termination.

(3) The amount of any taxes under chapter 219, penalty or interest that become due and owing pursuant to the termination by the Commissioner of Economic and Community Development of an agreement entered into pursuant to subsection (c) of this section may be collected by the Commissioner of Revenue Services under the provisions of section 12-35 . The warrant provided under section 12-35 shall be signed by the Commissioner of Revenue Services or the commissioner's authorized agent. The amount of any such tax, penalty or interest shall be a lien on the real estate of the qualified data center from the last day of the month next preceding the due date of such tax until such tax is paid. The Commissioner of Revenue Services may record such lien in the records of any municipality in which the real estate of such qualified data center is located but no such lien shall be enforceable against a bona fide purchaser or qualified encumbrancer of such real estate. When any tax with respect to which a lien has been recorded under the provisions of this subsection has been satisfied, the commissioner shall, upon request of any interested party, issue a certificate discharging such lien, which certificate shall be recorded in the same office in which the lien was recorded. Any action for the foreclosure of such lien shall be brought by the Attorney General in the name of the state in the superior court for the judicial district in which the real estate subject to such lien is located, or, if such property is located in two or more judicial districts, in the superior court for any one such judicial district, and the court may limit the time for redemption or order the sale of such real estate or make such other or further decree as it judges equitable.
Conn. Gen. Stat. § 32-285a — Connecticut Code / Title 32 / Chapter 588n / Section 32-285a
Sec. 32-285a. Community Investment Fund 2030 Board. Bond authorization. Report.
Status: in_force

(1) “Administrative costs” means the costs paid or incurred by the administrator of the Community Investment Fund 2030 Board established under subsection (b) of this section, including, but not limited to, allocated staff costs and other out-of-pocket costs attributable to the administration and operation of the board;

(2) “Administrator” means the Commissioner of Economic and Community Development, or the commissioner's designee;

(3) “Eligible project” means:

(A) A project proposed by a municipality, community development corporation or nonprofit organization, for the purpose of promoting economic or community development in the municipality or a municipality served by such corporation or organization, such as brownfield remediation, affordable housing, establishment of or improvements to water and sewer infrastructure to support smaller scale economic development, pedestrian safety and traffic calming improvements, establishment of or improvements to energy resiliency or clean energy projects and land acquisition, capital projects to construct, rehabilitate or renovate public facilities such as libraries and senior centers and to facilitate or enhance home rehabilitation programs; and

(B) Such project furthers consistent and systematic fair, just and impartial treatment of all individuals, including individuals who belong to underserved and marginalized communities that have been denied such treatment, such as Black, Latino and indigenous and Native American persons; Asian Americans and Pacific Islanders and other persons of color; members of religious minorities; lesbian, gay, bisexual, transgender and queer persons and other persons comprising the LGBTQ+ community; persons who live in rural areas; and persons otherwise adversely affected by persistent poverty or inequality; and

(4) “Municipality” means a municipality designated as a public investment community pursuant to section 7-545 or as an alliance district pursuant to section 10-262u .

(b) (1) There is established a Community Investment Fund 2030 Board, which shall be within the Department of Economic and Community Development. The board shall consist of the following members:

(A) The speaker of the House of Representatives and the president pro tempore of the Senate;

(B) The majority leader of the House of Representatives, the majority leader of the Senate, the minority leader of the House of Representatives and the minority leader of the Senate;

(C) One appointed by the speaker of the House of Representatives and one appointed by the president pro tempore of the Senate, each of whom shall be a member of the Black and Puerto Rican Caucus of the General Assembly;

(D) The two chairpersons of the general bonding subcommittee of the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding;

(E) Two appointed by the Governor; and

(F) The Secretary of the Office of Policy and Management, the Attorney General, the Treasurer, the Comptroller, the Secretary of the State and the Commissioners of Economic and Community Development, Administrative Services, Social Services and Housing, or their designees.

(2) All initial appointments shall be made not later than sixty days after June 30, 2021. The terms of the members appointed by the Governor shall be coterminous with the term of the Governor or until their successors are appointed, whichever is later. Any vacancy in appointments shall be filled by the appointing authority. Any vacancy occurring other than by expiration of term shall be filled for the balance of the unexpired term.

(3) Notwithstanding any provision of the general statutes, it shall not constitute a conflict of interest for a trustee, director, partner, officer, stockholder, proprietor, counsel or employee of any person to serve as a member of the board, provided such trustee, director, partner, officer, stockholder, proprietor, counsel or employee abstains and absents himself or herself from any deliberation, action and vote by the board in specific respect to such person. The members appointed by the Governor shall be deemed public officials and shall adhere to the code of ethics for public officials set forth in chapter 10.

(4) The speaker of the House of Representatives and the president pro tempore of the Senate shall serve as the chairpersons of the board and shall schedule the first meeting of the board, which shall be held not later than January 1, 2022. The board shall meet at least quarterly.

(5) Eleven members of the board shall constitute a quorum for the transaction of any business.

(6) The members of the board shall serve without compensation, but shall, within the limits of available funds, be reimbursed for expenses necessarily incurred in the performance of their duties.

(7) The board shall have the following powers and duties: (A) To review eligible projects to be recommended to the Governor under subsection (c) of this section for approval; (B) to establish bylaws to govern its procedures; (C) to review and provide comments to the Department of Economic and Community Development on projects funded through the state's Economic Action Plan as provided under section 32-4p ; and (D) to perform such other acts as may be necessary and appropriate to carry out its duties described in this section.

(8) The administrator shall hire such employee or employees as may be necessary to assist the board to carry out its duties described in this section.

(c) (1) The Community Investment Fund 2030 Board shall establish an application and review process with guidelines and terms for funds provided from the bond proceeds under subsection (d) of this section for eligible projects. Such funds shall be used for costs related to an eligible project recommended by the board and approved by the Governor pursuant to this subsection but shall not be used to pay or to reimburse the administrator for administrative costs under this section. The Department of Economic and Community Development shall pay for administrative costs within available appropriations.

(2) The chairpersons of the board shall notify the chief elected official of each municipality when the application and review process has been established and shall publicize the availability of any funds available under this section. Each such official or any community development corporation or nonprofit organization may submit an application to the board requesting funds for an eligible project. The board shall meet to consider applications submitted and determine which, if any, the board will recommend to the Governor for approval.

(3) (A) The board shall give priority to eligible projects (i) that are proposed by a municipality that (I) has implemented local hiring preferences pursuant to section 7-112 , or (II) has or will leverage municipal, private, philanthropic or federal funds for such project, (ii) that have a project labor agreement or employ or will employ ex-offenders or individuals with physical, intellectual or developmental disabilities, and (iii) on and after the date the ten-year plan developed under section 32-7z is submitted to the General Assembly, that are included in such plan. The board shall give additional priority to an application submitted by a municipality that includes a letter of support for the proposed eligible project from a member or members of the General Assembly in whose district the eligible project is or will be located.

(B) In evaluating applications for an eligible project described in subparagraph (A)(ii) of subdivision (3) of subsection (a) of this section, the board shall (i) consider the impact of the eligible project on job creation or retention in the municipality, (ii) consider the impact of the eligible project on blighted properties in the municipality, and (iii) consider the overall impact of the eligible project on the community.

(4) (A) Whenever the board deems it necessary or desirable, the chairpersons of the board shall submit to the Governor a list of the board's recommendations of eligible projects to be funded from bond proceeds under subsection (d) of this section. The board may recommend state funding for eligible projects, provided the total cost of such recommendations shall not exceed one hundred seventy-five million dollars in any fiscal year. Such list shall include, at a minimum for each eligible project described in subparagraph (A) of subdivision (3) of subsection (a) of this section, a description of such project, the municipality in which such project is located, the amount of funds sought for such project, any cost estimates for such project, any schematics or plans for such project, the total estimated project costs and the applicable fiscal year to which such disbursement will be attributed.

(B) The Governor shall review the eligible projects on the list and may recommend changes to any eligible project on the list. The Governor shall determine the most appropriate method of funding for each eligible project and shall provide to the members of the board, in writing, such determination for each eligible project on the list and the reasons therefor. The board may reconsider at a future meeting any eligible project for which the Governor recommends a change. Each eligible project for which the Governor recommends the allocation of bond funds shall be considered at a State Bond Commission meeting not later than two months after the date such eligible project was submitted to the Governor pursuant to subparagraph (A) of this subdivision.

(5) Funds for an eligible project approved under this section may be administered on behalf of the board by a state agency, as determined by the Secretary of the Office of Policy and Management, provided a memorandum of understanding between the administrator of the Community Investment Fund 2030 Board and the state, acting by and through the Secretary of the Office of Policy and Management, has been entered into with respect to such funds and project.

(6) Not later than August 31, 2023, the board shall submit a report, in accordance with the provisions of section 11-4a , to the General Assembly, the Black and Puerto Rican caucus of the General Assembly, the Auditors of Public Accounts and the Governor, for the preceding fiscal year, that includes (A) a list of the eligible projects recommended by the board and approved by the Governor pursuant to this section, (B) the total amount of funds provided for such eligible projects, (C) for each such eligible project, a description of the project and the amounts and terms of the funds provided, (D) the status of the project and any balance remaining of the allocated funds, and (E) any other information the board deems relevant or necessary. The board shall submit such report annually for each fiscal year in which the funds specified in subparagraph (A) of subdivision (3) of this subsection are disbursed for eligible projects.

(7) The Auditors of Public Accounts shall audit, on a biennial basis, all eligible projects funded under this section and shall report their findings to the Governor, the Secretary of the Office of Policy and Management and the General Assembly.

(d) (1) The State Bond Commission may authorize the issuance of bonds of the state, in accordance with the provisions of section 3-20 , in principal amounts not exceeding in the aggregate eight hundred seventy-five million dollars. The amount authorized for the issuance and sale of such bonds in each of the following fiscal years shall not exceed the following corresponding amount for each such fiscal year, except that, to the extent the State Bond Commission does not provide for the use of all or a portion of such amount in any such fiscal year, such amount not provided for shall be carried forward and added to the authorized amount for the next succeeding fiscal year, and provided further, the costs of issuance and capitalized interest, if any, may be added to the capped amount in each fiscal year, and each of the authorized amounts shall be effective on July first of the fiscal year indicated as follows:
Conn. Gen. Stat. § 32-11a — Connecticut Code / Title 32 / Chapter 579 / Section 32-11a
Sec. 32-11a. Connecticut Innovations, Incorporated. Successor agency to Connecticut Development Authority.
Status: repealed

(b) All notes, bonds or other obligations issued by the Connecticut Development Authority or the Connecticut Development Commission for the financing of any project or projects shall be in accordance with their terms of full force and effect and valid and binding upon Connecticut Innovations, Incorporated, as the successor to the Connecticut Development Authority, and with respect to any resolution, contract, deed, trust agreement, mortgage, conditional sale or loan agreement, commitment, obligation or liability or other such document, public record, right, remedy, special act or public act, obligation, liability or responsibility pertaining thereto, the corporation shall be, and shall be deemed to be, the successor to the Connecticut Development Authority. All properties, rights in land, buildings and equipment and any funds, moneys, revenues and receipts or assets of the Connecticut Development Commission pledged or otherwise securing any such notes, bonds or other obligations shall belong to the corporation as successor to the Connecticut Development Authority, subject to such pledges and other security arrangements and to agreements with the holders of the outstanding notes, bonds or other obligations. Any resolution with respect to the issuance of bonds of the commission for the purposes of the act and any other action taken by the commission with respect to assisting in the financing of any project shall be, or shall be deemed to be, a resolution of the corporation or an action taken by the corporation subject only to any agreements with the holders of outstanding notes, bonds or other obligations of the commission.

(c)–(j) Repealed by June 12 Sp. Sess. P.A. 12-1 , S. 292.

(k) Repealed by P.A. 00-136 , S. 9.

(l) Repealed by June 12 Sp. Sess. P.A. 12-1 , S. 292.

Cited. 230 C. 24.
Conn. Gen. Stat. § 32-23gg — Connecticut Code / Title 32 / Chapter 579 / Section 32-23gg
Sec. 32-23gg. Legislative determination.
Status: in_force

See Sec. 32-477 re priority for applicants establishing work environments consistent with criteria in Sec. 32-475.
Conn. Gen. Stat. § 32-503 — Connecticut Code / Title 32 / Chapter 588v / Section 32-503
Sec. 32-503. Connecticut Innovations, Incorporated export division.
Status: in_force

(b) On or before January 30, 1998, the corporation shall submit a report to the joint standing committee of the General Assembly having cognizance of matters relating to economic development on the progress of the corporation in carrying out the purposes of this section, including a list of successful transactions.
Conn. Gen. Stat. § 32-7z — Connecticut Code / Title 32 / Chapter 578 / Section 32-7z
Sec. 32-7z. Pilot program for ten-year plan to eradicate concentrated poverty in participating concentrated poverty census tract.
Status: in_force

(b) There is established an Office of Neighborhood Investment and Community Engagement within the Department of Economic and Community Development. Said office shall carry out the provisions of this section, overseeing the implementation of the ten-year plan developed pursuant to this subsection, monitoring the state's progress in reducing concentrated poverty in the state and serving as the facilitator to coordinate communication between the various parties and disseminate information in a timely and efficient manner.

(c) (1) There is established a pilot program to implement the provisions of the ten-year plan developed pursuant to this section for participating concentrated poverty census tracts. Any concentrated poverty census tract or group of tracts (A) that is located in any of the four municipalities with the greatest number of concentrated poverty census tracts, and (B) for which community members have established a community development corporation pursuant to the provisions of section 32-7s to assist the municipality in which such census tract or group of tracts is located in carrying out the municipality's responsibilities under this section and the ten-year plan developed for such census tract or group of tracts, shall be eligible to apply to participate in the program. Notwithstanding the provisions of subparagraph (A) of this subdivision, any municipality in which a concentrated poverty census tract or group of tracts is located and for which a community development corporation has been established as described under subparagraph (B) of this subdivision, or any such community development corporation, may apply to participate in the program. The Commissioner of Economic and Community Development shall issue a request for proposals for participation in the pilot program and select the applicant with the highest score. As used in this section, “concentrated poverty census tract” means a census tract identified as a high poverty-low opportunity census tract, as of January 1, 2024, by the Office of Policy and Management pursuant to section 32-7x of the 2024 supplement to the general statutes.

(2) (A) The Office of Neighborhood Investment and Community Engagement shall develop a plan for the pilot participating concentrated poverty census tract or group of tracts, as applicable, to eradicate, over ten years, the levels of concentrated poverty in the service area of the community development corporation, evidenced by a reduction, to twenty per cent or lower, in the percentage of households who reside in such concentrated poverty census tract or group of tracts and have incomes below the federal poverty level, as well as sustained improvements in community infrastructure and other underlying conditions that serve to prolong concentrated poverty and economic inertia in such census tract or group of tracts. In developing such plan, said office shall consult with the Office of Community Economic Development Assistance established under section 32-7s , the Office of Workforce Strategy established under section 4-124w , the Office of Early Childhood, the Department of Education, the Office of Policy and Management, the applicable community development corporations serving the participating concentrated poverty census tract or group of tracts and the applicable municipal chief elected officials and any other public or private entity the Commissioner of Economic and Community Development deems relevant or necessary to achieving the purposes of this subsection.

(B) The ten-year plan shall include, but need not be limited to, (i) measurable steps to be taken for its implementation, the target date by which each such step is to be completed and the state or municipal official or state or municipal agency, department or division responsible for each such step, (ii) minimum state-wide averages for educational metrics, including, but not limited to, kindergarten-readiness, grade level reading and mathematics and college-readiness or career-readiness, to be used as benchmarks for improvements in such concentrated poverty census tract or group of tracts, as applicable, and (iii) the list of possible projects determined pursuant to subdivision (3) of this subsection.

(C) On or before June 1, 2025, the Commissioner of Economic and Community Development shall inform the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding, in writing, of the progress made to date in the development of the ten-year plan. Not later than January 1, 2026, said commissioner shall submit such plan to the General Assembly, in accordance with the provisions of section 11-4a , and the Office of Neighborhood Investment and Community Engagement shall immediately commence overseeing the implementation of such plan.

(3) The Office of Neighborhood Investment and Community Engagement shall, jointly with the chief elected official of each applicable municipality and the community development corporation established to assist such municipality, develop a list of possible projects that will be included in the ten-year plan for the participating concentrated poverty census tract or group of tracts, as applicable, located in such municipality. Said office, official and corporation shall (A) determine the types of projects they deem to be the most appropriate and effective for such census tract or group of tracts to eradicate concentrated poverty within such census tract or group of tracts, including, but not limited to, capital projects, workforce development programs, housing development, community and neighborhood improvements and education initiatives to assist and support residents in meeting and surpassing the educational metrics described in subparagraph (B)(ii) of subdivision (2) of this subsection, and (B) take into account the criteria for projects eligible for grants under sections 32-7s , 32-7x and 32-285a .

(4) Not later than February 1, 2027, and annually thereafter, the Commissioner of Economic and Community Development shall submit a report to the General Assembly, the Office of Workforce Strategy, the Office of Early Childhood and the Office of Policy and Management, in accordance with the provisions of section 11-4a , that summarizes the progress being made by the Office of Neighborhood Investment and Community Engagement in implementing the ten-year plan, the status of any projects pending or undertaken for the participating concentrated poverty census tract or group of tracts and any other information the commissioner or the Office of Neighborhood Investment and Community Engagement deems relevant or necessary.

(5) (A) Commencing with the calendar year 2027, not later than March first of said year and annually thereafter for the next two years, the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding shall hold an informational forum for the Commissioner of Economic and Community Development to present the contents of the submitted report and for other state officials, municipal officials, representatives of community development corporations serving participating concentrated poverty census tracts or groups of tracts and other interested parties to provide oral and written comments on the submitted report and the pilot program.

(B) Commencing with the calendar year 2030, said committee shall hold such informational forum every two years.

(d) On and after the date the ten-year plan is submitted to the General Assembly pursuant to subparagraph (C) of subdivision (2) of subsection (c) of this section, each state agency shall give priority to projects included in such ten-year plan with respect to any grants or funding programs such agency awards or administers and for which such projects may be eligible.

(e) Not later than January 1, 2029, the Commissioner of Economic and Community Development shall submit a recommendation to the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding of (1) whether the pilot program should be expanded to all concentrated poverty census tracts or groups of tracts in the state for which a community development corporation has been established as described under subparagraph (B) of subdivision (1) of subsection (c) of this section, and (2) any additional or alternative criteria to be considered for expansion of the pilot program to other economically disadvantaged census tracts that do not fall within the definition of a concentrated poverty census tract. If the commissioner recommends expansion under subdivision (1) of this subsection, the commissioner and the Office of Neighborhood Investment and Community Engagement shall immediately undertake such expansion.

(f) On and after July 1, 2027, if any state or municipal official responsible for carrying out a requirement or responsibility under the provisions of this section or a ten-year plan fails to do so in a timely manner, any community development corporation established as described under subparagraph (B) of subdivision (1) of subsection (c) of this section that was (1) selected pursuant to the request for proposals under subdivision (1) of subsection (c) of this section, (2) can demonstrate good faith efforts to effectuate the ten-year plan, and (3) is aggrieved by such failure may bring an action against such official in the superior court for the judicial district in which such census tract or group of tracts is located for a writ of mandamus to compel such official to carry out such requirement or responsibility.
Conn. Gen. Stat. § 32-773 — Connecticut Code / Title 32 / Chapter 588gg / Section 32-773
Sec. 32-773. Purposes. Powers.
Status: in_force

(A) Enter into land banking agreements with (i) municipalities for the acquisition, retention, remediation and sale of real property within such municipalities on behalf of such municipalities, or (ii) regional councils of governments for the acquisition, retention, remediation and sale of real property located within the planning regions of such regional councils of governments.

(B) Enter into contracts and agreements with municipalities or regional councils of governments for staffing services to be provided to the Connecticut brownfield land bank by such municipalities, regional councils of governments or agencies or departments thereof, or for a Connecticut brownfield land bank to provide such staffing services to such municipalities, regional councils of governments or agencies or departments thereof in relation to the duties of such land bank.

(C) Obtain grant funds or borrow from private lenders, municipalities, regional councils of governments, the state or the federal government, as may be necessary, for the operation of such Connecticut brownfield land bank.

(D) Procure insurance or guarantees from the state or federal government of the payments of any debts, or parts thereof, incurred by such Connecticut brownfield land bank, and to pay premiums in connection therewith.

(E) Do all other things necessary or convenient to achieve the purposes of such Connecticut brownfield land bank and comply with any law relating to the purposes and responsibilities of such land bank.

(F) Acquire real property, as described in subsection (b) of section 32-775 , by purchase contracts, lease purchase agreements, installment sales contracts, land contracts and foreclosure of municipal tax liens. A Connecticut brownfield land bank may accept transfers of real property from municipalities upon such terms and conditions as agreed to by the brownfield land bank and the municipality. Notwithstanding any provision of the general statutes or of any special act, municipal charter or home rule ordinance, any municipality may transfer and convey to a Connecticut brownfield land bank real property and interests in real property located in the municipality on such terms and conditions and according to such procedures as determined by the municipality.

(b) A Connecticut brownfield land bank shall neither possess nor exercise the power of eminent domain.
Conn. Gen. Stat. § 32-277 — Connecticut Code / Title 32 / Chapter 588n / Section 32-277
Sec. 32-277. Conditions for financial assistance.
Status: in_force

(1) The applicant has demonstrated that there is little prospect of obtaining the conventional project financing requested from either private or public sources of funding within the region, and that there is little prospect of obtaining adequate project financing from private sources of capital, or in the case of a loan guarantee, that there is little prospect of obtaining project financing without the guarantee;

(2) There is a reasonable prospect of repayment;

(3) The project is located in the region represented by the regional corporation;

(4) The project will comply with any applicable environmental rules or regulations;

(5) The applicant has certified that it will not discriminate against any employee or any applicant for employment because of race, religion, color, national origin, sex, gender identity or expression or age;

(6) A staff member or a representative of the regional corporation acting in an official capacity has personally visited the project site and the applicant's place of business; and

(7) Financial commitments or contingent financial commitments for the project have been obtained from other public and private sources.
Conn. Gen. Stat. § 32-41k — Connecticut Code / Title 32 / Chapter 581 / Section 32-41k
Sec. 32-41k. Deployment research program.
Status: in_force

(b) On or before July 1, 1994, the corporation shall review all applications timely received pursuant to this section and shall approve one such application. In approving such application the corporation shall assess scientific and economic factors concerning the proposed technology deployment research, including but not limited to the following:

(1) The extent to which the research will identify advanced available technologies for future deployment;

(2) The extent to which the research enhances existing manufacturing in Connecticut industry;

(3) The eligible research consortium's plan to involve minority students or minority owned businesses in its activities; and

(4) The adequacy of the eligible research consortium's proposed mechanisms for evaluating its progress.

(c) The center's responsibilities shall include, but not be limited to, providing training for businesses in high performance work practices.