Conn. Gen. Stat. § 8-37rr

Current with legislation from the 2024 Regular and Special Sessions.

Section 8-37rr - Definitions

As used in this section, sections 3-21b and 8-37ss and subsection (e) of section 8-80:

(1) "Administrative expense" means any administrative or other cost or expense as defined in section 8-37qq.

(2) "Bond-financed state housing program" means any program as defined in section 8-37qq.

(3) "Calculation date" means the date determined by the commissioner, Treasurer, Comptroller and Secretary of the Office of Policy and Management for making the calculations described in subsection (a) of section 8-37ss which shall not be later than May 31, 1996.

(4) "Commissioner" means the Commissioner of Housing.

(5) "Consolidation date" means the date determined by the commissioner, Treasurer, Comptroller and Secretary of the Office of Policy and Management for the implementation of the plan of consolidation described in subsection (b) of section 8-37ss and for the transfer of reserved amounts to the Housing Repayment and Revolving Loan Fund described in subsection (c) of section 8-37ss which shall be on or after the date approved by the State Bond Commission of such plan of consolidation and which shall not be later than June 30, 1996.

(6) "Consolidated amounts" means any reserved amounts transferred to the Housing Repayment and Revolving Loan Fund pursuant to subsection (c) of section 8-37ss and any moneys subsequently deposited in the Housing Repayment and Revolving Loan Fund pursuant to section 3-21b, this section and section 8-37ss and subsection (e) of section 8-80 in lieu of being deposited in a prior bond fund.

(7) "Housing Assistance Bond Fund" means the Housing Assistance Bond Fund established pursuant to section 8-37qq.

(8) "Housing Repayment and Revolving Loan Fund" means the Housing Repayment and Revolving Loan Fund established pursuant to section 8-37qq.

(9) "Net available balance" means the unexpended balance in any prior bond fund or the Housing Repayment and Revolving Loan Fund, as determined by the commissioner, Treasurer, Comptroller and Secretary of the Office of Policy and Management, less reserved amounts.

(10) "Net available balance deficit" means a net available balance in any prior bond fund that is negative.

(11) "Net available balance surplus" means a net available balance in any prior bond fund that is positive.

(12) "Prior bond fund" means any fund of the state created or administered to account for revenues and expenses in connection with one or more bond-financed state housing programs, but does not include the Housing Assistance Bond Fund, the Housing Repayment and Revolving Loan Fund or the Rental Housing Fund established pursuant to section 8-80.

(13) "Reserved amounts" means:

(A) In the case of a prior bond fund (i) the amount determined by the commissioner and Secretary of the Office of Policy and Management to be held in reserve to pay expenditures previously approved by the State Bond Commission, plus (ii) any amounts of net available balance surpluses in prior bond funds not used to pay for net available balance deficits in prior bond funds because of a determination by the Treasurer that such use could adversely affect the tax-exempt status of any of the state's bonds; and

(B) in the case of the Housing Repayment and Revolving Loan Fund (i) the amount determined by the commissioner and Secretary of the Office of Policy and Management to be held in reserve for the payment of administrative expense anticipated during the period between the calculation date and July 1, 1997, plus (ii) after the consolidation date, consolidated amounts that would have been reserved amounts if held in a prior bond fund, as determined by the commissioner and Secretary of the Office of Policy and Management.

Conn. Gen. Stat. § 8-37rr

( P.A. 94-173, S. 1, 5; P.A. 95-250, S. 7, 42; 95-309, S. 11, 12; P.A. 96-211, S. 1, 5, 6; P.A. 13-234, S. 2.)

Amended by P.A. 13-0234, S. 2 of the the 2013 Regular Session, eff. 6/19/2013.