Sec. 32-700. Definitions.
135 words·~1 min read·
/ct/title-32/chapter-588aa-state-assistance-for-economic-development/32-700·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in sections 32-701 to 32-703 , inclusive, and this section:
(1)“Awarding authority” means the Commissioner of Economic and Community Development, the board of directors of Connecticut Innovations, Incorporated, and the head of any other quasi-public agency, as defined in section 1-120 , and any state agency authorized to award state assistance, as defined in subdivision
(2)of this section.
(2)“State assistance” means any grant, loan, loan guarantee or issuance of tax benefit not of general applicability for the purpose of economic development that is
(A)made to a business entity operated for profit, and
(B)in an amount greater than one million dollars or that, if added to any other such state assistance made to the same business entity during the preceding two years, would total greater than one million dollars.