Connecticut General Statutes
Chapter 588l - Economic Development and Manufacturing Assistance
Section 32-231. - Economic Assistance Revolving Fund.

(a) There is established a fund to be known as the “Economic Assistance Revolving Fund”. Repayment of principal and interest on loans shall be credited to such fund and shall become part of the assets of the fund. The Economic Assistance Revolving Fund may include other separate accounts. Any balance remaining in such fund at the end of any fiscal year shall be carried forward in the fund for the fiscal year next succeeding.

(b) All moneys received in consideration of financial assistance, including payments of principal and interest on any loans, shall be credited to the fund. At the discretion of the commissioner and subject to the approval of the Secretary of the Office of Policy and Management, any federal, private or other moneys received by the state in connection with projects undertaken pursuant to sections 32-220 to 32-234, inclusive, shall be credited to the assets of the fund.
(c) The commissioner may provide financial assistance pursuant to section 32-223 from the fund established under this section. Notwithstanding any provision of the general statutes, payment of any administrative expenses or other costs incurred by the department in carrying out the purposes of sections 32-220 to 32-234, inclusive, may be paid from the fund subject to the approval of the Governor.
(P.A. 90-270, S. 12, 38; P.A. 91-340, S. 7, 8; P.A. 94-95, S. 7.)
History: P.A. 91-340 made a technical change to the references to “sections 32-220 to 32-234, inclusive,” in Subsecs. (b) and (c) (made necessary by the codification of new Sec. 32-222a), but the change necessitated no change to the wording of this section as codified; P.A. 94-95 amended Subsec. (a) eliminating requirement that the fund be kept separate and apart from other moneys, funds and accounts and specified that fund may include other separate accounts.

Structure Connecticut General Statutes