Bill Text: CT SB00958 | 2015 | General Assembly | Introduced

Connecticut Senate Bill 958 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: An Act Establishing Strategic Partnerships In Cybersecurity.

Spectrum: Committee Bill

Status: (Passed) 2015-07-10 - Signed by the Governor [SB00958 Detail]

Download: Connecticut-2015-SB00958-Introduced.html


General Assembly		*Raised Bill No. 958*
*January Session, 2015*		LCO No. 4005
		04005_______CE_
Referred to Committee on COMMERCE
Introduced by:
(CE)

AN ACT CONSOLIDATING CERTAIN FUNDS OF CONNECTICUT INNOVATIONS, INCORPORATED.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective July 1, 2015) (a) Effective July 1, 2015, (1) the Business Environmental Clean-Up Revolving Loan Fund established under section 32-23z of the general statutes and in effect on June 30, 2015, and (2) the Environmental Assistance Revolving Loan Fund established under section 32-23qq of the general statutes and in effect on June 30, 2015, shall be combined with and become part of the Connecticut Growth Fund established under section 32-23v of the general statutes and in effect on June 30, 2015, provided all subfunds established under section 32-23qq of the general statutes shall become subfunds within the Connecticut Growth Fund. As of July 1, 2015, cash, notes, receivables and all other assets, liabilities, appropriations, authorizations, allocations and attributes then pertaining to the Business Environmental Clean-Up Revolving Loan Fund and the Environmental Assistance Revolving Loan Fund shall be transferred to the Connecticut Growth Fund. All loans, guarantees and lines of credit outstanding under said sections 32-23z and 32-23qq on June 30, 2015, 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.

(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 of the general statutes, on and after July 1, 2015, the corporation may make loans from the Connecticut Growth Fund, in the manner therein provided, to any person for any purpose as would have been permitted by section 32-23z or 32-23qq of the general statutes if made from the Business Environmental Clean-Up Revolving Loan Fund or the Environmental Assistance Revolving Loan Fund.

(c) All applications for loans under sections 32-23z and 32-23qq of the general statutes pending on June 30, 2015, and authorized on or after July 1, 2015, shall be funded from the Connecticut Growth Fund established under section 32-23v of the general statutes.


This act shall take effect as follows and shall amend the following sections:
Section 1	July 1, 2015	New section

Statement of Purpose:

To combine the Business Environmental Clean-Up Revolving Loan Fund and the Environmental Assistance Revolving Loan Fund with the Connecticut Growth Fund in order to simplify accounting procedures for Connecticut Innovations, Incorporated.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]