Sec. 32-35. Connecticut Innovations, Incorporated. (a) There is hereby created
a body politic and corporate to be known as "Connecticut Innovations, Incorporated".
Such corporation is constituted a public instrumentality and political subdivision of the
state and the exercise by the corporation of the powers conferred in this chapter shall
be deemed and held to be the performance of an essential public and governmental
function. Connecticut Innovations, Incorporated shall not be construed to be a department, institution or agency of the state.
(b) The corporation shall be governed by a board of fifteen directors. Eight members
shall be appointed by the Governor, at least six of whom shall be knowledgeable, and
have favorable reputations for skill, knowledge and experience, in the development of
innovative technology and technological processes including, but not limited to, expertise in academic research, technology transfer and application, the development of technological invention and new enterprise development. Three members shall be the Commissioner of Economic and Community Development, the Commissioner of Higher
Education and the Secretary of the Office of Policy and Management, who shall serve
ex officio and shall have all of the powers and privileges of a member of the board of
directors. Each ex-officio member may designate his deputy or any member of his staff
to represent him at meetings of the corporation with full power to act and vote in his
behalf. Four members shall be appointed as follows: One by the president pro tempore
of the Senate, one by the minority leader of the Senate, one by the speaker of the House
of Representatives and one by the minority leader of the House of Representatives. Each
member appointed by the Governor shall serve at the pleasure of the Governor but no
longer than the term of office of the Governor or until the member's successor is appointed and qualified, whichever is longer. Each member appointed by a member of
the General Assembly shall serve in accordance with the provisions of section 4-1a. A
director shall be eligible for reappointment. The Governor shall fill any vacancy for the
unexpired term of a member appointed by the Governor. The appropriate legislative
appointing authority shall fill any vacancy for the unexpired term of a member appointed
by such authority.
(c) The chairperson of the board shall be appointed by the Governor, with the advice
and consent of both houses of the General Assembly. The directors shall annually elect
one of their number as secretary. The board may elect such other officers of the board
as it deems proper. Members shall receive no compensation for the performance of
their duties hereunder but shall be reimbursed for necessary expenses incurred in the
performance thereof.
(d) Each director of the corporation before entering upon his duties shall take and
subscribe the oath or affirmation required by article eleventh, section 1, of the Constitution. A record of each such oath or affirmation shall be filed in the office of the Secretary
of the State. The board of directors of the corporation shall adopt written procedures,
in accordance with the provisions of section 1-121, for: (1) Adopting an annual budget
and plan of operations, including a requirement of board approval before the budget or
plan may take effect; (2) hiring, dismissing, promoting and compensating employees
of the corporation including an affirmative action policy and a requirement of board
approval before a position may be created or a vacancy filled; (3) purchasing, leasing
or acquiring real and personal property and personal services, including a requirement
of board approval for any nonbudgeted expenditure in excess of five thousand dollars;
(4) contracting for financial, legal, bond underwriting and other professional services,
including a requirement that the corporation solicit proposals at least once every three
years for each such service which it uses; (5) awarding loans, grants and other financial
assistance, including eligibility criteria, the application process and the role played by
the corporation's staff and board of directors and the Department of Economic and
Community Development and including deadlines for the approval or disapproval of
applications for such assistance by the corporation on and after July 1, 1996; and (6)
the use of surplus funds to the extent authorized under this chapter, or other provisions
of the general statutes.
(e) Notwithstanding the provisions of any other law to the contrary, it shall not
constitute a conflict of interest for a trustee, director, partner or officer of any person,
firm or corporation, or any individual having a financial interest in a person, firm or
corporation, to serve as a member of the board of directors of Connecticut Innovations,
Incorporated, provided such trustee, director, partner, officer or individual shall abstain
from deliberation, action or vote by Connecticut Innovations, Incorporated in specific
respect to such person, firm or corporation.
(f) The corporation shall have the authority to contract with the Department of Economic and Community Development for administrative or other services.
(g) As of October 1, 1989, all powers, duties and personnel of the Connecticut
Product Development Corporation shall be transferred to Connecticut Innovations, Incorporated, in accordance with the provisions of section 4-38d. As of October 1, 1989,
all cash, notes, receivables, liabilities, appropriations, authorizations, allocations, and
all other assets and properties of the Connecticut Product Development Corporation
shall be transferred to Connecticut Innovations, Incorporated. Such transfer shall not
affect the validity, enforceability or binding nature of any contract or agreement for
financial aid made by the Connecticut Product Development Corporation under the
authorization of this chapter prior to October 1, 1989.
(h) The corporation shall provide funding for the operation of the Connecticut Small
Business Innovation Research Office in accordance with subdivision (41) of section
32-39.
(1972, P.A. 248, S. 4; P.A. 74-273, S. 1, 2; P.A. 77-614, S. 288, 610; P.A. 79-560, S. 38, 39; P.A. 82-58, S. 1, 2; P.A.
88-225, S. 9, 14; 88-266, S. 14, 46; P.A. 89-245, S. 9; June Sp. Sess. P.A. 93-1, S. 42, 45; P.A. 95-249, S. 3, 4; 95-250, S.
1; P.A. 96-211, S. 1, 5, 6; June Sp. Sess. P.A. 09-3, S. 79; Sept. Sp. Sess. P.A. 09-7, S. 111.)
History: P.A. 74-273 revised appointment provisions in Subsec. (b), deleting now obsolete provision re initial appointments and making provision re successors' appointments generally applicable and added Subsec. (e) re status of corporation;
P.A. 77-614 replaced department of commerce with department of economic development in Subsec. (e) and made corporation subject to department "for administrative purposes" rather than "for fiscal and budgetary purposes", effective January
1, 1979; P.A. 79-560 increased number of directors from six to seven, specified that additional member be knowledgeable,
experienced, etc. and replaced previous provision calling for six-year appointments made in even-numbered years with
provision making directors' terms coterminous with governor's term; P.A. 82-58 added provisions re commissioner of
economic development's service as a board member; P.A. 88-225 inserted new Subsec. (e) re when a financial interest
and membership on board of directors of corporation do not constitute a conflict of interest and relettered former Subsec.
(e) as Subsec. (f); P.A. 88-266 amended Subsec. (a) to specify that corporation is a body "politic" and is a public instrumentality and political subdivision of the state where previously was considered "quasi-public", adding reference to its governmental function and providing that corporation shall not be construed to be department, institution or agency of state, amended
Subsec. (b) to require that board members' terms be staggered instead of coterminous with governor's term, amended
Subsec. (c) to require board chairperson to be appointed by governor with advice and consent of general assembly instead
of elected by board, and amended Subsec. (d) by adding provisions requiring adoption of written procedures; P.A. 89-245
renamed Connecticut Product Development Corporation as Connecticut Innovations, Incorporated, added four members
to the board of directors and made certain changes to the qualifications of board members, required the commissioner of
higher education and the secretary of the office of policy and management to serve as ex-officio board members, made
certain technical changes, and added Subsec. (g) re transfer of powers, duties and personnel from Connecticut Product
Development Corporation to Connecticut Innovations, Incorporated; June Sp. Sess. P.A. 93-1 amended Subsec. (c) to add
four legislative appointments to the board of directors, to revise length of terms of gubernatorial appointees, to specify
term length for legislative appointees and to clarify procedure for filling unexpired terms, effective July 1, 1993; P.A. 95-249 amended Subsec. (d)(5) to require board to adopt procedures for deadlines for approving or disapproving assistance
applications, effective July 1, 1995; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Economic
Development with Commissioner and Department of Economic and Community Development; June Sp. Sess. P.A. 09-3
added Subsec. (h) re funding for Connecticut Small Business Innovation Research Office, effective September 9, 2009;
Sept. Sp. Sess. P.A. 09-7 amended Subsec. (h) to provide that office funding is for operation of the office in accordance
with Sec. 32-39(41), effective October 5, 2009.
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Sec. 32-39. Corporate purpose; powers. The purposes of the corporation shall
be to stimulate and encourage the research and development of new technologies, businesses and products, to encourage the creation and transfer of new technologies, to
assist existing businesses in adopting current and innovative technological processes,
to stimulate and provide services to industry that will advance the adoption and utilization of technology, to achieve improvements in the quality of products and services, to
stimulate and encourage the development and operation of new and existing science
parks and incubator facilities, and to promote science, engineering, mathematics and
other disciplines that are essential to the development and application of technology
within Connecticut by the infusion of financial aid for research, invention and innovation
in situations in which such financial aid would not otherwise be reasonably available
from commercial or other sources, and for these purposes the corporation shall have the
following powers:
(1) To have perpetual succession as a body corporate and to adopt bylaws, policies
and procedures for the regulation of its affairs and conduct of its businesses as provided
in section 32-36;
(2) To enter into venture agreements with persons, upon such terms and on such
conditions as are consistent with the purposes of this chapter, for the advancement of
financial aid to such persons for the research, development and application of specific
technologies, products, procedures, services and techniques, to be developed and produced in this state, and to condition such agreements upon contractual assurances that
the benefits of increasing or maintaining employment and tax revenues shall remain in
this state and shall accrue to it;
(3) To solicit, receive and accept aid, grants or contributions from any source of
money, property or labor or other things of value, to be held, used and applied to carry
out the purposes of this chapter, subject to the conditions upon which such grants and
contributions may be made, including but not limited to, gifts or grants from any department or agency of the United States or the state;
(4) To invest in, acquire, lease, purchase, own, manage, hold and dispose of real
property and lease, convey or deal in or enter into agreements with respect to such
property on any terms necessary or incidental to the carrying out of these purposes;
provided, however, that all such acquisitions of real property for the corporation's own
use with amounts appropriated by the state to the corporation or with the proceeds of
bonds supported by the full faith and credit of the state shall be subject to the approval
of the Secretary of the Office of Policy and Management and the provisions of section
4b-23;
(5) To borrow money or to guarantee a return to the investors in or lenders to any
capital initiative, to the extent permitted under this chapter;
(6) To hold patents, copyrights, trademarks, marketing rights, licenses, or any other
evidences of protection or exclusivity as to any products as defined herein, issued under
the laws of the United States or any state or any nation;
(7) To employ such assistants, agents and other employees as may be necessary or
desirable, which employees shall be exempt from the classified service and shall not be
employees, as defined in subsection (b) of section 5-270; establish all necessary or
appropriate personnel practices and policies, including those relating to hiring, promotion, compensation, retirement and collective bargaining, which need not be in accordance with chapter 68, and the corporation shall not be an employer as defined in subsection (a) of section 5-270; and engage consultants, attorneys and appraisers as may be
necessary or desirable to carry out its purposes in accordance with this chapter;
(8) To make and enter into all contracts and agreements necessary or incidental to
the performance of its duties and the execution of its powers under this chapter;
(9) To sue and be sued, plead and be impleaded, adopt a seal and alter the same at
pleasure;
(10) With the approval of the State Treasurer, to invest any funds not needed for
immediate use or disbursement, including any funds held in reserve, in obligations issued
or guaranteed by the United States of America or the state of Connecticut and in other
obligations which are legal investments for retirement funds in this state;
(11) To procure insurance against any loss in connection with its property and other
assets in such amounts and from such insurers as it deems desirable;
(12) To the extent permitted under its contract with other persons, to consent to any
termination, modification, forgiveness or other change of any term of any contractual
right, payment, royalty, contract or agreement of any kind to which the corporation is
a party;
(13) To do anything necessary and convenient to render the bonds to be issued under
section 32-41 more marketable;
(14) To acquire, lease, purchase, own, manage, hold and dispose of personal property, and lease, convey or deal in or enter into agreements with respect to such property
on any terms necessary or incidental to the carrying out of these purposes;
(15) In connection with any application for assistance under this chapter, or commitments therefor, to make and collect such fees as the corporation shall determine to be
reasonable;
(16) To enter into venture agreements with persons, upon such terms and conditions
as are consistent with the purposes of this chapter to provide financial aid to such persons
for the marketing of new and innovative services based on the use of a specific technology, product, device, technique, service or process;
(17) To enter into limited partnerships or other contractual arrangements with private and public sector entities as the corporation deems necessary to provide financial
aid which shall be used to make investments of seed venture capital in companies based
in or relocating to the state in a manner which shall foster additional capital investment,
the establishment of new businesses, the creation of new jobs and additional commercially-oriented research and development activity. The repayment of such financial aid
shall be structured in such manner as the corporation deems will best encourage private
sector participation in such limited partnerships or other arrangements. The board of
directors, executive director, officers and staff of the corporation may serve as members
of any advisory or other board which may be established to carry out the purposes of
this subdivision;
(18) To account for and audit funds of the corporation and funds of any recipients
of financial aid from the corporation;
(19) To advise the Governor, the General Assembly, the Commissioner of Economic and Community Development and the Commissioner of Higher Education on
matters relating to science, engineering and technology which may have an impact on
state policies, programs, employers and residents, and on job creation and retention;
(20) To promote technology-based development in the state;
(21) To encourage and promote the establishment of and, within available resources, to provide financial aid to advanced technology centers;
(22) To maintain an inventory of data and information concerning state and federal
programs which are related to the purposes of this chapter and to serve as a clearinghouse
and referral service for such data and information;
(23) To conduct and encourage research and studies relating to technological development;
(24) To provide technical or other assistance and, within available resources, to
provide financial aid to the Connecticut Academy of Science and Engineering, Incorporated, in order to further the purposes of this chapter;
(25) To recommend a science and technology agenda for the state that will promote
the formation of public and private partnerships for the purpose of stimulating research,
new business formation and growth and job creation;
(26) To encourage and provide technical assistance and, within available resources,
to provide financial aid to existing manufacturers and other businesses in the process
of adopting innovative technology and new state-of-the-art processes and techniques;
(27) To recommend state goals for technological development and to establish policies and strategies for developing and assisting technology-based companies and for
attracting such companies to the state;
(28) To promote and encourage and, within available resources, to provide financial
aid for the establishment, maintenance and operation of incubator facilities;
(29) To promote and encourage the coordination of public and private resources
and activities within the state in order to assist technology-based entrepreneurs and
business enterprises;
(30) To provide services to industry that will stimulate and advance the adoption
and utilization of technology and achieve improvements in the quality of products and
services;
(31) To promote science, engineering, mathematics and other disciplines that are
essential to the development and application of technology;
(32) To coordinate its efforts with existing business outreach centers, as described
in section 32-9qq;
(33) To do all acts and things necessary and convenient to carry out the purposes
of this chapter;
(34) To accept from the department: (A) Financial assistance, (B) revenues or the
right to receive revenues with respect to any program under the supervision of the department, and (C) loan assets or equity interests in connection with any program under the
supervision of the department; to make advances to and reimburse the department for
any expenses incurred or to be incurred by it in the delivery of such assistance, revenues,
rights, assets, or interests; to enter into agreements for the delivery of services by the
corporation, in consultation with the department, the Connecticut Housing Finance Authority and the Connecticut Development Authority, to third parties which agreements
may include provisions for payment by the department to the corporation for the delivery
of such services; and to enter into agreements with the department or with the Connecticut Development Authority or Connecticut Housing Finance Authority for the sharing
of assistants, agents and other consultants, professionals and employees, and facilities
and other real and personal property used in the conduct of the corporation's affairs;
(35) To transfer to the department: (A) Financial assistance, (B) revenues or the
right to receive revenues with respect to any program under the supervision of the corporation, and (C) loan assets or equity interests in connection with any program under
the supervision of the corporation, provided the transfer of such financial assistance,
revenues, rights, assets or interests is determined by the corporation to be practicable,
within the constraints and not inconsistent with the fiduciary obligations of the corporation imposed upon or established upon the corporation by any provision of the general
statutes, the corporation's bond resolutions or any other agreement or contract of the
corporation and to have no adverse effect on the tax-exempt status of any bonds of
the state;
(36) With respect to any capital initiative, to create, with one or more persons, one
or more affiliates and to provide, directly or indirectly, for the contribution of capital
to any such affiliate, each such affiliate being expressly authorized to exercise on such
affiliate's own behalf all powers which the corporation may exercise under this section,
in addition to such other powers provided to it by law;
(37) To provide financial aid to enable biotechnology and other technology companies to lease, acquire, construct, maintain, repair, replace or otherwise obtain and maintain production, testing, research, development, manufacturing, laboratory and related
and other facilities, improvements and equipment;
(38) To provide financial aid to persons developing smart buildings, as defined in
section 32-23d, incubator facilities or other information technology intensive office and
laboratory space;
(39) To administer the Renewable Energy Investment Fund established pursuant
to section 16-245n;
(40) To provide financial aid to persons developing or constructing the basic buildings, facilities or installations needed for the functioning of the media and motion picture
industry in this state;
(41) To coordinate the development and implementation of strategies regarding
technology-based talent and innovation among state and quasi-public agencies, including the creation and administration of the Connecticut Small Business Innovation Research Office to act as a centralized clearinghouse and provide technical assistance to
applicants in developing small business innovation research programs in conformity
with the federal program established pursuant to the Small Business Research and Development Enhancement Act of 1992, P.L. 102-564, as amended, and other proposals.
(1972, P.A. 248, S. 8; P.A. 75-425, S. 55, 57; P.A. 77-614, S. 19, 610; P.A. 79-231; 79-233, S. 8; P.A. 80-267, S. 2;
80-483, S. 99, 186; P.A. 87-273, S. 1; P.A. 88-266, S. 17, 46; P.A. 89-245, S. 12; P.A. 91-388, S. 5, 7; P.A. 94-45, S. 1,
3; P.A. 95-78, S. 2, 5; 95-250, S. 11, 39, 42; 95-309, S. 3, 11, 12; P.A. 98-203, S. 4, 13; P.A. 00-178, S. 6; June Sp. Sess.
P.A. 00-1, S. 43, 46; June Sp. Sess. P.A. 01-9, S. 80, 131; P.A. 07-152, S. 2; 07-236, S. 4; Sept. Sp. Sess. P.A. 09-7, S. 112.)
History: P.A. 75-425 specified in Subdiv. (4) that acquisitions of real property are subject to Sec. 4-26b; P.A. 77-614
replaced commissioner of finance and control with secretary of the office of policy and management in Subdiv. (4); P.A.
79-231 empowered corporation to employ attorneys in Subdiv. (7); P.A. 79-233 specified in Subdiv. (10) that provisions
of Subsec. 14b of Sec. 36-96 are inapplicable to investments; P.A. 80-267 added reference to maintaining employment
and tax revenues in Subdiv. (2); P.A. 80-483 corrected faulty reference to Subsec. 14b of Sec. 36-96 in Subdiv. (10); P.A.
87-273 amended Subdiv. (4) to delete reference to personal property and inserted new Subdiv. (14) detailing corporate
powers concerning personal property, renumbering prior Subdiv. (14) accordingly; P.A. 88-266 inserted new Subdiv. (15)
re power to make or collect fees, renumbering former Subdiv. (15) as (16); P.A. 89-245 added corporate purposes re
promoting the creation, development and application of technology, improving quality of products and services, encouraging development of science parks and incubator facilities and promoting academic disciplines essential to the development
and application of technology, made certain technical changes to existing corporate powers in Subdivs. (1) to (15), added
new Subdivs. (16) to (32) re additional corporate powers, and renumbered existing Subdiv. (16) as Subdiv. (33); P.A. 91-388 amended Subdiv. (21) by changing the reference to "technology innovation centers" to "advanced technology centers";
P.A. 94-45 amended Subdiv. (7) to exempt employees and corporation from definitions under Sec. 5-270 and to require
corporation to establish personnel practices and policies, effective July 1, 1994; P.A. 95-78 amended Subdiv. (22) to require
that corporations include information re federal defense conversion financial assistance programs in inventory and identify
and notify eligible businesses, effective July 1, 1995; P.A. 95-250 amended Subdiv. (19) substituting "Commissioner of
Economic and Community Development" for "Commissioner of Economic Development" and Subdiv. (22) deleting
provision re information on federal financial assistance programs for defense conversion projects, effective July 1, 1995,
and added Subdivs. (34) and (35) re participation in programs administered by the Department of Economic and Community
Development; P.A. 95-309 amended Subdiv. (35) to add provision re adverse effect on the tax-exempt status of bonds and
revised effective date of P.A. 95-250 but did not affect this section; P.A. 98-203 amended Subdiv. (4) to exempt certain
affiliates of the corporation from the requirements of that subdivision, amended Subdiv. (5) to allow the corporation to
provide guarantees to investors or lenders in certain cases and added new Subdivs. (36) and (37) re creation of affiliates
and re financial aid to certain technology companies, respectively, effective June 8, 1998; P.A. 00-178 added Subdiv. (38)
re financial aid to persons developing smart buildings, incubator facilities or other information technology intensive office
and laboratory space; June Sp. Sess. P.A. 00-1 changed effective date of P.A. 00-178 from October 1, 2000, to July 1,
2000, effective July 1, 2000; June Sp. Sess. P.A. 01-9 amended Subdiv. (4) by deleting provision re approval by the
Secretary of the Office of Policy and Management, adding provision re secretary's approval of real property acquired for
the corporation's own use, and deleting exemption re affiliates that acquire, lease, purchase, own, manage, hold or dispose
of real property, effective July 1, 2001; P. A. 07-152 added Subdiv. (39) re Renewable Energy Investment Fund, effective
June 25, 2007; P.A. 07-236 replaced "new technologies and products" with "new technologies, businesses and products"
and added Subdiv. (40) re financial aid for infrastructure for media and motion picture industry, effective July 1, 2007;
Sept. Sp. Sess. P.A. 09-7 added Subdiv. (41) re technology-based talent and innovation, effective October 5, 2009.
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Sec. 32-47a. Business plan. Report. Not later than January first in each year, Connecticut Innovations, Incorporated shall submit a business plan containing a summary
of its projected operations for the year to the joint standing committees of the General
Assembly having cognizance of matters relating to the Department of Economic and
Community Development, appropriations and capital bonding. Not later than November
first, annually, the corporation shall submit a report to the Commissioner of Economic
and Community Development, the Auditors of Public Accounts and said joint standing
committees, which shall include the following information with respect to new and
outstanding financial assistance provided by the corporation during the twelve-month
period ending on June thirtieth next preceding the date of the report for each financial
assistance program administered by the corporation: (1) A list of the names, addresses
and locations of all recipients of such assistance, (2) for each such recipient: (A) The
business activities, (B) the Standard Industrial Classification Manual codes, (C) the
gross revenues during the recipient's most recent fiscal year, if the recipient is an organization that makes such information public in the normal course of business, or, if the
recipient does not make such information public in the normal course of business, the
gross revenue information shall be provided for a recipient separately, using a system
in which no recipient is listed by name but each is given a separate identity in a manner
consistent with the provisions of subsection (c) of section 32-40, (D) the number of
employees at the time of application, (E) whether the recipient is a minority or woman-owned business, (F) a summary of the terms and conditions for the assistance, including
the type and amount of state financial assistance, job creation or retention requirements,
and anticipated wage rates, and (G) the amount of investments from private and other
nonstate sources that have been leveraged by the assistance, (3) the economic benefit
criteria used in determining which applications have been approved or disapproved, and
(4) for each recipient of assistance on or after July 1, 1991, a comparison between the
number of jobs to be created, the number of jobs to be retained and the average wage
rates for each such category of jobs, as projected in the recipient's application, versus
the actual number of jobs created, the actual number of jobs retained and the average
wage rates for each such category. The Governor and the chairpersons and ranking
members of the joint standing committees of the General Assembly having cognizance
of matters relating to finance, revenue and bonding and commerce may, after a request
to Connecticut Innovations, Incorporated by any of said persons, examine, in confidence, the detailed data, including the specific revenue data for each identifiable business, submitted pursuant to subparagraph (C) of subdivision (2) of this section. The
chairpersons and ranking members of said committees may disclose such data to the
members of said committees, who shall also keep such data confidential. The report
shall also indicate the actual number of full-time jobs and the actual number of part-time jobs in each such category and the benefit levels for each such subcategory. The
November first report shall include a summary of the activities of the corporation, including all activities to assist small businesses and minority business enterprises, as defined
in section 4a-60g, a complete operating and financial statement and recommendations
for legislation to promote the purposes of the corporation. The corporation shall furnish
such additional information upon the written request of any such committee at such
times as the committee may request.
(P.A. 89-245, S. 18; P.A. 93-382, S. 3, 69; P.A. 95-78, S. 4, 5; 95-250, S. 40, 42; 95-309, S. 11, 12; P.A. 96-211, S. 1,
5, 6; P.A. 99-30, S. 1; P.A. 00-212, S. 1; P.A. 09-172, S. 1.)
History: P.A. 93-382 required corporation to also submit business plan to general assembly committee having cognizance of matters relating to appropriations and capital bonding, report semiannually instead of quarterly and submit reports
to auditors of public accounts and same committees and specified content of such reports, effective July 1, 1993; P.A. 95-78 required reports to list federal defense conversion financial assistance programs and applications for such assistance,
effective July 1, 1995; P.A. 95-250 and P.A. 96-211 substituted Commissioner and Department of Economic and Community Development for Commissioner and Department of Economic Development and deleted provision re list of federal
financial programs for defense conversion projects, effective July 1, 1995; P.A. 95-309 changed effective date of P.A. 95-250 but did not affect this section; P.A. 99-30 changed a requirement for a biannual report regarding financial assistance
provided by the corporation to an annual report; P.A. 00-212 made a technical change in Subdiv. (2)(E); P.A. 09-172
amended Subdiv. (2)(C) to add provision re confidentiality for gross revenue information of recipients that do not make
such information public, and added provisions allowing Governor and specific legislators to examine revenue data in
confidence and permitting disclosure of such data to legislative committee members, effective July 1, 2009.
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