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

Sec. 32-41ll. (Formerly Sec. 19a-32f). Development of donated funds program to encourage regenerative medicine research. Administration of Regenerative Medicine Research Fund. (a) The chief executive officer of Connecticut Innovations, Incorporated, shall (1) develop a donated fu…

Sec. 32-41m. Connecticut educational and job training technologies deployment center programs. (a) There is established a Connecticut educational and job training technologies deployment center program to be administered by the corporation for the purpose of promoting a nonprofit…

Sec. 32-41mm. (Formerly Sec. 19a-32g). Peer review of applications for financial assistance. Qualifications and duties of peer reviewers. Rating and scoring guidelines. (a) Prior to the awarding of any financial assistance in response to an application submitted pursuant to secti…

Sec. 32-41n. Critical technologies grant program. (a) There is established a critical technologies grant program to be administered by the corporation for the purpose of promoting technology deployment in advanced materials, marine sciences, photonics, pharmaceutical and environm…

Sec. 32-41nn. Bond authorization for Regenerative Medicine Research Fund. (a) For the purposes described in subsection (b) of this section, 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 i…

Sec. 32-41o. Bond issue for technology deployment. (a) For the purposes described in subsection (b) of this section, 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 n…

Sec. 32-41oo. Program to incentivize formation of new venture capital funds. The chief executive officer of Connecticut Innovations, Incorporated may establish a program to incentivize the formation of at least one new venture capital fund in the state. Connecticut Innovations, I…

Sec. 32-41p. Workplace center of excellence program. (a) There is established a workplace center of excellence program to be administered by Connecticut Innovations, Incorporated for the purpose of developing and deploying ergonomic technology solutions and knowledge. During the …

Sec. 32-41pp. Program to encourage development of technologies and techniques concerning crumbling concrete foundations. (a) There is established a program to encourage the development of technologies and techniques regarding the prevention, identification and repair of propertie…

Sec. 32-41q. Critical industries development account. Purpose. Regulations. (a) As used in this section “critical industry” means an industry that uses emerging technologies, including but not limited to, fuel cell technology, to develop and manufacture nondefense products for fu…

Sec. 32-41qq. Plan to collect data re crumbling concrete foundations. (a) The Chief Data Officer shall, in consultation with the Department of Housing, the State Geologist, the captive insurance company established pursuant to section 38a-91vv, and the volunteer panel convened pu…

Sec. 32-41r. Short title: Economic Recovery Act of 1996. This section, section 32-40, subsection (a) of section 32-41q, and sections 32-41s, 32-229 and 32-450 shall be known and may be cited as the “Economic Recovery Act of 1996”. (P.A. 96-264, S. 1, 8; P.A. 08-162, S. 2.) Histor…

Sec. 32-41s. Bioscience, biotechnology, pharmaceutical and photonics businesses. Benefits. Regulations. (a) As used in this section: (1) “Bioscience” means the study of genes, cells, tissues and chemical and physical structures of living organisms; (2) “Eligible business” means a…

Sec. 32-41t. High technology research and development program: Definitions. As used in this section and section 32-41u: (1) “Corporation” means Connecticut Innovations, Incorporated as created under section 32-35; and (2) “Eligible participant” means a member of the faculty or a …

Sec. 32-41u. High technology research and development program: Establishment and purpose. (a) There is established a high technology research and development program to be administered by the corporation for the purpose of promoting collaboration between businesses and colleges a…

Sec. 32-41v. Connecticut New Opportunities Fund. (a) As used in this section: (1) “Corporation” means Connecticut Innovations, Incorporated; and (2) “Fund” means the Connecticut New Opportunities Fund. (b) Connecticut Innovations, Incorporated shall establish a fund to be known a…

Sec. 32-41w. Early-stage venture capital program. (a) There is established an early-stage venture capital program to be administered by Connecticut Innovations, Incorporated, to provide preseed financing, seed financing, start-up financing, early or first-stage financing and expa…

Sec. 32-41x. Preseed financing account and program. (a) There is established an account to be known as the “preseed financing account” which shall be a separate, nonlapsing account within the General Fund. The account shall contain any moneys required by law to be deposited in th…

Sec. 32-41y. Connecticut Bioscience Collaboration program. Connecticut Bioscience Collaboration Fund. (a) For purposes of this section: (1) “Corporation” means Connecticut Innovations, Incorporated; (2) “Board” means the board of directors of Connecticut Innovations, Incorporated…

Sec. 32-41z. Bond issue for the Connecticut Bioscience Collaboration program. (a) The State Bond Commission shall 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 two hundred ninet…

Sec. 32-42. Examination. Audits. The corporation shall be subject to examination by the State Treasurer. The accounts of the corporation shall be subject to biennial audits by the State Auditors of Public Accounts. (1972, P.A. 248, S. 11; P.A. 93-382, S. 8, 69; P.A. 21-145, S. 11…

Sec. 32-43. State pledge. The state of Connecticut does hereby pledge to and agree with any person with whom the corporation may enter into contracts pursuant to the provisions of this chapter that the state will not limit or alter the rights hereby vested in the corporation unti…

Sec. 32-44. Powers to be interpreted broadly. The powers enumerated in this chapter shall be interpreted broadly to effectuate the purposes thereof and shall not be construed as a limitation of powers. (1972, P.A. 248, S. 13.)

Sec. 32-45. Inconsistent provisions of law. To the extent that the provisions of this chapter are inconsistent with the provisions of any general statute or special act or parts thereof, the provisions of this chapter shall be deemed controlling. (1972, P.A. 248, S. 14.)

Sec. 32-46. Tax exemption. (a) The corporation shall have the tax exemptions provided under section 32-23h. (b) Sales of and the storage, use or other consumption of any tangible personal property or services acquired for incorporation into or used and consumed in connection with…

Sec. 32-47. Personal liability of directors or persons acting on behalf of the corporation. (a) Neither the directors of Connecticut Innovations, Incorporated nor any person acting on behalf of said corporation executing any notes, bonds, contracts, agreements or other obligation…

Sec. 32-47a. Business plan. Report. Not later than January first in each year, Connecticut Innovations, Incorporated shall submit a business plan containing a summary of its projected operations for the year to the joint standing committees of the General Assembly having cognizan…

Secs. 32-48 to 32-55. Surety bond guarantee program for small contractors. Sections 32-48 to 32-55, inclusive, are repealed. (P.A. 79-611, S. 1–8; P.A. 80-483, S. 100–102, 186; P.A. 82-44, S. 2, 3; 82-358, S. 6, 10; P.A. 83-459, S. 1–4; P.A. 86-107, S. 10, 19; P.A. 88-265, S. 35,…

Secs. 32-55a to 32-55i. Definitions. Guarantee of surety; eligibility. Limits of guarantee. Subordination of working capital loans. Commissioner authorized to enter into agreements with insured parties and financial institutions re guarantee fund. Fees. Small Contractors' Surety …

Sec. 32-56. (Formerly Sec. 32-9a). Defense conversion. Determination by commissioner of severe impact of defense contract cutback or major aerospace or defense plant closure on a municipality. (a) In view of the contemplated reduction in defense expenditures by the federal govern…

Sec. 32-57. Determination by commissioner of severe impact of defense contract cutbacks on a business. The Commissioner of Economic and Community Development may determine that the employment opportunities offered by a business in the state have been severely impacted by a prime …

Sec. 32-58. Department to advise local governments. The Department of Economic and Community Development shall advise and cooperate with any municipal or regional agency, commission or authority responsible for economic planning in order to formulate and implement plans to reduce…

Sec. 32-58a. Reimbursement to state residents for travel to meeting of federal base relocation closure commission. The Secretary of the Office of Policy and Management may, within available appropriations, reimburse state residents who are official state advocates before any fede…

Sec. 32-58b. Office of Military Affairs established. Appointment and duties of executive director. (a) There is established an Office of Military Affairs within the Department of Economic and Community Development for administrative purposes only. The Office of Military Affairs s…

Sec. 32-59. Defense readjustment task force. There is established within the Department of Economic and Community Development a defense readjustment task force which shall consist of the Commissioner of Economic and Community Development and the Labor Commissioner and the Secreta…

Sec. 32-59a. Task force on manufacturing in Connecticut. Section 32-59a is repealed. (P.A. 87-536, S. 1, 7; P.A. 95-38, S. 8.)

Sec. 32-60. Legislative finding. It is hereby found and declared that a continuing need exists to maintain and develop the state's economy; that there are significant barriers inhibiting access by the authority and eligible financial institutions to the public capital markets and…

Sec. 32-61. Definitions. As used in this chapter, “corporation” means Connecticut Innovations, Incorporated created under subsection (a) of section 32-35; “chief executive officer” means the chief executive officer of Connecticut Innovations, Incorporated appointed pursuant to se…

Sec. 32-62. Revenue Bond Mortgage Insurance Fund. There is created a Revenue Bond Mortgage Insurance Fund. The insurance fund shall be held by the corporation, a trustee or other fiduciary or custodian designated by the corporation. There shall be deposited in the insurance fund …

Sec. 32-63. Insurance of payments. Applications. The corporation may insure and make advance commitments to insure all or any portion of the payment required by a loan or any portion of a loan upon such terms and conditions as the corporation may prescribe in accordance with this…

Sec. 32-64. Eligibility. Any loan insured by the corporation under this chapter shall (1) be made for a project; (2) be made to a borrower approved by the corporation as responsible and creditworthy; (3) in the case of real property, be secured by a mortgage on the property, be m…

Sec. 32-65. Eligible financial institutions. The corporation is authorized from time to time to enter into guarantee agreements, letters of credit, insurance contracts, participations, collateral sharing agreements, servicing agreements, and any other agreements or contracts with…

Sec. 32-66. Lenders' committee. Section 32-66 is repealed. (P.A. 81-388, S. 7, 12; P.A. 88-265, S. 35, 36.)

Sec. 32-67. Claims. Premiums. Any contract of insurance made by the corporation under the authorization of this chapter shall provide that claims payable under such contract shall first be paid from any amounts readily available in the insurance fund before any amounts available …

Sec. 32-68. Bond issue. Section 32-68 is repealed. (P.A. 81-388, S. 9, 12; P.A. 88-265, S. 21, 36; P.A. 89-331, S. 29, 30.)

Sec. 32-68a. Pledge to insurance contract holders. Powers of Connecticut Innovations, Incorporated. The state hereby pledges to and agrees with the holders of any insurance contracts issued under this chapter and with persons who may enter into other contracts or agreements with …

Sec. 32-69. Reserved for future use.

Sec. 32-70. Enterprise zones. Designation. Expansion. (a) Any municipality that was a distressed municipality under the provisions of subsection (b) of section 32-9p on February 1, 1986, may, with the approval of the Commissioner of Economic and Community Development, designate a…

Sec. 32-70a. Goals and performance standards for enterprise zones. Municipal reports to commissioner. Assessment of each enterprise zone. (a) On or before October 1, 2006, the Commissioner of Economic and Community Development shall establish goals for enterprise zones designated…

Sec. 32-70b. Municipal enterprise zone revitalization plan. On or before January 1, 1994, the legislative body of each municipality with an enterprise zone designated under section 32-70 shall authorize an existing board, commission or officer or may create a new board, commissio…