Conn. Gen. Stat. § 32-450

Current with legislation from 2024 effective through June 6, 2024.

Section 32-450 - Definitions

As used in sections 32-450 to 32-458, inclusive:

(1) "Awarding authority" means the Commissioner of Economic and Community Development and the board of directors of Connecticut Innovations, Incorporated.

(2) "Economic development financial assistance" means any grant, loan or loan guarantee, or combination thereof, or any tax credits approved pursuant to section 32-9t, provided to a business for the purpose of economic development.

(3) "Employee representatives" means representatives of any certified or recognized bargaining agents for employees of a business.

(4) "Threshold project" means

(A) a project for which a business operating in the state and having twenty-five or more full-time employees in the state submits a request to an awarding authority for economic development financial assistance in the form of (i) a grant in the amount of two hundred fifty thousand dollars or more or (ii) a combination of a grant and a loan or loan guarantee, totaling two hundred fifty thousand dollars or more, or

(B) a project for which a business operating in the state and having one hundred or more full-time employees in the state submits a request to an awarding authority for economic development financial assistance in the form of (i) a loan or a loan guarantee, in the amount of one million dollars or more, or (ii) a combination of a loan and a loan guarantee, totaling one million dollars or more.

Conn. Gen. Stat. § 32-450

( P.A. 94-231, S. 1, 9; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6; 96-264, S. 2, 8; P.A. 06-189, S. 19; June 12 Sp. Sess. P.A. 12-1, S. 161; P.A. 14-85, S. 2.)

Amended by P.A. 14-0085, S. 2 of the Connecticut Acts of the 2014 Regular Session, eff. 10/1/2014.

Amended by P.A. 12-0001, S. 161 of the Connecticut Acts of the 2012 Special Session, eff. 7/1/2012.