Title 32 — Title 32: Commerce and Economic and Community Development

Secs. 32-10 and 32-11. Definitions. Connecticut Industrial Building Commission. Sections 32-10 and 32-11 are repealed. (1961, P.A. 542, S. 1, 2; 1963, P.A. 601, S. 1; February, 1965, P.A. 494, S. 1–3; 1971, P.A. 503, S. 1; 1972, P.A. 195, S. 26.)

Sec. 32-11a. Connecticut Innovations, Incorporated. Successor agency to Connecticut Development Authority. (a) There is hereby created as a body politic and corporate, constituting a public instrumentality and political subdivision of the state created for the performance of an e…

Sec. 32-11b. Definitions. As used in sections 32-11c to 32-11e, inclusive, “authority” means the Connecticut Development Authority established pursuant to section 32-11a and “corporation” means Connecticut Innovations, Incorporated, established pursuant to section 32-35. (June 12…

Sec. 32-11c. Transfer of duties, obligations, purposes and procedures. (a) In accordance with the provisions of section 4-38d, which shall be deemed applicable to the transfers provided for herein, all powers and duties of the authority under the provisions of this chapter, and u…

Sec. 32-11d. Agreements to facilitate transfers. Support. (a) From June 15, 2012, to July 1, 2012, the authority and the corporation may enter into any agreements, including agreements with third parties, that are necessary or convenient to facilitate the assignment to and assump…

Sec. 32-11e. Corporation subsidiaries. (a) The corporation may form one or more subsidiaries to carry out the public purposes of the corporation and may transfer to any such subsidiary any moneys and real or personal property of any kind or nature. Any such subsidiary may be orga…

Sec. 32-11f. Connecticut Innovations, Incorporated substituted for Connecticut Development Authority. (a)(1) Wherever the term “Connecticut Development Authority” is used in the following sections of the general statutes, the term “Connecticut Innovations, Incorporated” shall be …

Sec. 32-11g. Connecticut Innovations, Incorporated. Successor to Connecticut Brownfields Redevelopment Authority. Connecticut Innovations, Incorporated shall succeed to all of the powers, rights, interests and obligations of its subsidiary, the Connecticut Brownfields Redevelopme…

Secs. 32-12 and 32-13. Executive secretary. Powers of commission. Sections 32-12 and 32-13 are repealed. (1961, P.A. 542, S. 3, 4; 1963, P.A. 601, S. 2; February, 1965, P.A. 494, S. 4, 5; 1972, P.A. 195, S. 26.)

Sec. 32-14. Mortgage and Loan Insurance Fund. There is created a Mortgage and Loan Insurance Fund. To this fund shall be charged all payments required by loan defaults, all direct expenses and payments for the protection of the state's interest in connection with defaulted or del…

Sec. 32-15. Applications for insurance. All applications for insurance shall be forwarded, together with an application fee, if any, prescribed by the corporation, to the chief executive officer of the corporation. The chief executive officer, after preparing necessary records fo…

Sec. 32-16. Insurance of mortgages and loans on economic development projects and information technology projects. (a)(1) The corporation may (A) upon application of the proposed mortgagee, insure and make advance commitments to insure all or a portion of mortgage payments requir…

Sec. 32-16a. Industrial Pollution Abatement Loan Fund. Section 32-16a is repealed and any funds in the Industrial Pollution Abatement Loan Fund shall be transferred to the corporation and deposited in the Mortgage and Loan Insurance Fund. (1972, P.A. 195, S. 21; 259, S. 1; P.A. 7…

Sec. 32-17. Proceedings on default by mortgagor. Section 32-17 is repealed. (1961, P.A. 542, S. 8; 1963, P.A. 601, S. 7.)

Sec. 32-17a. Procedure on default by mortgagor or borrower. (a) In the case of default by the mortgagor or borrower, the mortgagee or lender shall take reasonable steps to correct any such default. In the case of a default which continues for more than sixty days, the mortgagee o…

Sec. 32-18. Insurance premiums. The corporation shall fix insurance premiums for the insurance of mortgage or loan payments under the provisions of this chapter, such premiums to be computed as a percentage of the principal of the insured indebtedness outstanding at the beginning…

Sec. 32-19. Insured mortgages as legal investments. Loans secured by mortgages insured by the corporation and loans to a proposed mortgagor for the purpose of a proposed economic development project owned by such proposed mortgagor when a proposed mortgagee has been given an adva…

Secs. 32-20 and 32-21. Accounts; use of fund. Commission members not to act on contracts in which they have interest. Sections 32-20 and 32-21 are repealed. (1961, P.A. 542, S. 11, 12; February, 1965, P.A. 494, S. 12; P.A. 74-338, S. 50, 94.)

Sec. 32-22. Bond issue. (a) 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 principal amounts necessary to carry out the purposes of section 32-16 but not in excess of the aggregate amount of …

Sec. 32-22a. Written procedures. Contracts. (a) The corporation may establish written procedures in accordance with section 1-121 to clarify and further carry out the purposes of sections 32-14 to 32-22, inclusive. (b) Any insurance contract and any procedure of the corporation i…

Sec. 32-22b. Loan guarantees for brownfield projects. Connecticut Innovations, Incorporated may establish a loan guarantee program to provide guarantees of not more than thirty per cent of the loan to lenders who provide financing to recipients of financial assistance pursuant to…

Sec. 32-23. Industrial Building Operating Expense Fund. Section 32-23 is repealed. (February, 1965, P.A. 494, S. 13; 1972, P.A. 195, S. 26.)

Sec. 32-23a. Allocation of mortgage insurance premiums. All amounts received by the corporation prior to July 1, 1965, as mortgage insurance premiums shall be credited to the Industrial Building Mortgage Insurance Fund and all other funds of the corporation shall be credited to t…

Sec. 32-23aa. Compliance with state laws and regulations prerequisite for financial assistance. Connecticut Innovations, Incorporated shall not approve any application for financial assistance for any project unless such project complies with all state laws and regulations adopte…

Sec. 32-23b. Short title. Section 32-23b is repealed. (1972, P.A. 195, S. 1; P.A. 74-338, S. 52, 94.)

Sec. 32-23bb. Comprehensive Business Assistance Fund consolidated into Connecticut Growth Fund. (a) Effective July 1, 1993, the Comprehensive Business Assistance Fund established under section 32-23x and in effect on June 30, 1993, shall be combined with and become part of the Co…

Sec. 32-23c. Legislative finding. Section 32-23c is repealed, effective July 1, 2012. (1972, P.A. 195, S. 2; P.A. 73-599, S. 8; P.A. 75-513, S. 2, 5; P.A. 76-140, S. 1, 4; P.A. 77-155, S. 1; 77-299, S. 1; 77-614, S. 284, 610; P.A. 79-520, S. 1; P.A. 80-267, S. 6; 80-465, S. 1; P.…

Sec. 32-23cc. Business Environmental Clean-Up Revolving Loan Fund and Environmental Assistance Revolving Loan Fund consolidated into Connecticut Growth Fund. (a) Effective July 1, 2015, (1) the Business Environmental Clean-Up Revolving Loan Fund established under section 32-23z a…

Sec. 32-23d. Definitions. For the purposes of this chapter, the following terms shall have the following meanings unless the context indicates another meaning and intent: (a) “Department” means the Department of Economic and Community Development or its successor agency. (b) “Sta…

Secs. 32-23dd to 32-23ff. Reserved for future use.

Sec. 32-23e. Powers of the corporation. To accomplish the purposes of the corporation, which are hereby determined to be public purposes for which public funds may be expended, and in addition to any other powers provided by law, the corporation shall have power to: (1) Determine…

Sec. 32-23f. Bonds and notes. (a) Subject to the approval of the Treasurer of the state or the Treasurer's deputy appointed pursuant to section 3-12, and other applicable limitations of the general statutes, the corporation may borrow money and issue its bonds and notes from time…

Sec. 32-23g. Disposition of authority funds. Section 32-23g is repealed, effective July 1, 2012. (1972, P.A. 195, S. 6; P.A. 73-599, S. 12; P.A. 78-303, S. 113, 136; P.A. 82-434, S. 4, 6; P.A. 84-512, S. 24, 30; P.A. 91-161, S. 5, 9; P.A. 01-179, S. 13; June 12 Sp. Sess. P.A. 12-…

Sec. 32-23gg. Legislative determination. It is hereby found and declared that there exists in this state a great and growing need for additional forms of state financial assistance for Connecticut's manufacturing and other economic base firms to preserve and promote development a…

Sec. 32-23h. Exemption from state and local taxes and assessments. Payments in lieu of taxes. Approvals of pollution control facilities. The exercise of the powers granted to the corporation shall constitute the performance of an essential governmental function and the corporatio…

Sec. 32-23hh. Definitions. As used in sections 32-23gg to 32-23ll, inclusive: (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) …

Sec. 32-23i. Bonds as legal investments. Bonds issued by the corporation under the provisions of section 32-23f are hereby made securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, credit unions, building …

Sec. 32-23ii. Connecticut Works Fund. Subfunds. (a) There is created within the corporation the Connecticut Works Fund. The state acting through the corporation may provide financial assistance for economic development projects directly or in participation with any other financia…

Sec. 32-23j. Payment of bonds to be obligation of corporation. Capital reserve funds. Annual appropriation. (a) Bonds or notes of the corporation issued under the provisions of section 32-23f shall not be deemed to constitute a debt or liability of the state or of any municipalit…

Sec. 32-23jj. Considerations in reviewing application. In reviewing applications for financial assistance under sections 32-23gg to 32-23ll, inclusive, the corporation shall consider the following factors: (1) The status of the project as an economic development project; (2) the …

Sec. 32-23k. State pledge to bond holders and contractors. The state of Connecticut does hereby pledge to and agree with the holders of any bonds and notes issued under the provisions of section 32-23f, and with those parties who may enter into contracts with Connecticut Innovati…

Sec. 32-23kk. Contract of insurance. Any contract of insurance made by the corporation under sections 32-23gg to 32-23ll, inclusive, shall provide that claims payable under such contract shall first be paid from any amounts readily available in the Connecticut Works Fund, establi…

Sec. 32-23l. Industrial and commercial development. Powers of Connecticut Innovations, Incorporated. Sections 32-23d to 32-23k, inclusive, shall be deemed to provide a complete method for the doing of the things authorized thereby and shall be regarded as not in conflict with, or…

Sec. 32-23ll. Bond issue. (a) For the purposes described herein 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 ninety-five million doll…

Sec. 32-23m. Liberal construction. This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed, so as to effect its purposes. (1972, P.A. 195, S. 27.)

Secs. 32-23mm to 32-23oo. Reserved for future use.

Sec. 32-23n. Economic assistance grants for the industrial projects in areas of high unemployment. Section 32-23n is repealed. (P.A. 77-370, S. 3, 13; P.A. 78-357, S. 3, 16; P.A. 86-107, S. 8, 19; P.A. 88-265, S. 12, 36; P.A. 94-95, S. 25.)

Sec. 32-23o. Small Contractors' Revolving Loan Fund. Loans authorized by the corporation. Transfer of certain funds to the Connecticut Growth Fund. (a) A Small Contractors' Revolving Loan Fund is created. In order to stimulate and encourage the growth and development of the state…

Sec. 32-23p. Loans by the corporation in areas of high unemployment. The corporation may determine to make long term loans approved on or after July 1, 1978, for any economic development project located in an area of high unemployment financed with the proceeds of bonds at an int…

Sec. 32-23pp. Policy to encourage pollution prevention and remediation. It shall be the policy of the state to encourage the practice of pollution prevention and remediation activities, thereby reducing risks to the environment and the health of workers and consumers. As used in …