(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 Connecticut Growth Fund established under section 32-23v and in effect on June 30, 1993. As of July 1, 1993, cash, notes, receivables and all other assets, liabilities, appropriations, authorizations, allocations and attributes then pertaining to the Comprehensive Business Assistance Fund shall be transferred to the Connecticut Growth Fund. All loans, guarantees and lines of credit outstanding under said section 32-23x on June 30, 1993, shall be treated as having been made, committed or extended from the Connecticut Growth Fund established under said section 32-23v, and all payments received by the corporation on account thereof shall be credited or deposited to the Connecticut Growth Fund. Any and all bonds issued or authorized, and any grants made by the department to the corporation from the proceeds thereof, prior to July 1, 1993, for the purposes of said section 32-23x are deemed issued, authorized or made, as the case may be, for purposes of said section 32-23v. The bond authorization under subsection (i) of section 32-23x shall be available for purposes of said section 32-23v, and the proceeds of any such bonds issued, and any grant by the department to the corporation from such proceeds made, on or after July 1, 1993, shall be for purposes of, and shall be credited or deposited to, the Connecticut Growth Fund.
(b) In addition to, and not in limitation of, the powers of the corporation in making loans from the Connecticut Growth Fund to eligible borrowers under section 32-23v, on and after July 1, 1993, the corporation may make loans from the Connecticut Growth Fund to any person for any purpose and otherwise in the same manner as would have been permitted by section 32-23x if made from the Comprehensive Business Assistance Fund.
(c) All applications for loans under section 32-23x pending on June 30, 1993, and authorized on or after July 1, 1993, shall be funded from the Connecticut Growth Fund established under section 32-23v.
(P.A. 93-360, S. 9, 19; June 12 Sp. Sess. P.A. 12-1, S. 152.)
History: P.A. 93-360 effective July 1, 1993; pursuant to June 12 Sp. Sess. P.A. 12-1, “authority” was changed editorially by the Revisors to “corporation”, effective July 1, 2012.
Structure Connecticut General Statutes
Title 32 - Commerce and Economic and Community Development
Chapter 579 - Connecticut Innovations, Incorporated
Section 32-10 and 32-11. - Definitions. Connecticut Industrial Building Commission.
Section 32-11b. - Definitions.
Section 32-11c. - Transfer of duties, obligations, purposes and procedures.
Section 32-11d. - Agreements to facilitate transfers. Support.
Section 32-11e. - Corporation subsidiaries.
Section 32-12 and 32-13. - Executive secretary. Powers of commission.
Section 32-14. - Mortgage and Loan Insurance Fund.
Section 32-15. - Applications for insurance.
Section 32-16a. - Industrial Pollution Abatement Loan Fund.
Section 32-17. - Proceedings on default by mortgagor.
Section 32-17a. - Procedure on default by mortgagor or borrower.
Section 32-18. - Insurance premiums.
Section 32-19. - Insured mortgages as legal investments.
Section 32-22a. - Written procedures. Contracts.
Section 32-22b. - Loan guarantees for brownfield projects.
Section 32-23. - Industrial Building Operating Expense Fund.
Section 32-23a. - Allocation of mortgage insurance premiums.
Section 32-23aa. - Compliance with state laws and regulations prerequisite for financial assistance.
Section 32-23b. - Short title.
Section 32-23bb. - Comprehensive Business Assistance Fund consolidated into Connecticut Growth Fund.
Section 32-23c. - Legislative finding.
Section 32-23d. - Definitions.
Section 32-23e. - Powers of the corporation.
Section 32-23f. - Bonds and notes.
Section 32-23g. - Disposition of authority funds.
Section 32-23gg. - Legislative determination.
Section 32-23hh. - Definitions.
Section 32-23i. - Bonds as legal investments.
Section 32-23ii. - Connecticut Works Fund. Subfunds.
Section 32-23jj. - Considerations in reviewing application.
Section 32-23k. - State pledge to bond holders and contractors.
Section 32-23kk. - Contract of insurance.
Section 32-23ll. - Bond issue.
Section 32-23m. - Liberal construction.
Section 32-23p. - Loans by the corporation in areas of high unemployment.
Section 32-23pp. - Policy to encourage pollution prevention and remediation.
Section 32-23q. - Exemption from maximum interest and charges on loans.
Section 32-23qq. - Environmental Assistance Revolving Loan Fund. Subfunds.
Section 32-23r. - Preference in employment by borrowers and mortgagees.
Section 32-23rr. - Definitions.
Section 32-23s. - Interpretation of certain amendments.
Section 32-23ss. - Bond issue.
Section 32-23t. - Legislative finding.
Section 32-23tt. - Definitions.
Section 32-23u. - Consolidation of financial assistance programs.
Section 32-23uu. - Connecticut job training finance program.
Section 32-23v. - Connecticut Growth Fund.
Section 32-23vv. - Connecticut job training finance demonstration program.
Section 32-23w. - Consolidation of financial assistance programs.
Section 32-23ww. - Displaced Defense Workers' Bill of Rights.
Section 32-23x. - Comprehensive Business Assistance Fund.
Section 32-23xx. - Electronic Superhighway Act of 1994.
Section 32-23yy. - High-Technology Infrastructure Fund.
Section 32-23z. - Business Environmental Clean-Up Revolving Loan Fund. Regulations.