Connecticut § 32-278 Restrictions.

Connecticut Statutes

§ 32-278 — Restrictions.

Connecticut § 32-278

Title 32Commerce and Economic and Community Development

Ch. 588nCredit, Jobs, Capital Investment and Tax Incremental Financing Programs

This text of Connecticut § 32-278 (Restrictions.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 32-278 (2026).

Text

Financial assistance from a regional revolving loan fund shall not be made available for:

(1)Projects that would result in the relocation of any business operation from one municipality within the state to another, except when the regional corporation notifies each municipality from which such business operation will be relocated and each municipality agrees to such relocation;

(2)Projects of newspapers, broadcasting or other news media; medical facilities, libraries, community or civic centers; or public infrastructure improvements;

(3)Refinancing any portion of the total project cost or other existing loans or debts of an applicant, except for the purpose of transferring to the employees or to other local interests ownership of a company that would otherwise depart from or cease or su

Free access — add to your briefcase to read the full text and ask questions with AI

Financial assistance from a regional revolving loan fund shall not be made available for: (1) Projects that would result in the relocation of any business operation from one municipality within the state to another, except when the regional corporation notifies each municipality from which such business operation will be relocated and each municipality agrees to such relocation; (2) Projects of newspapers, broadcasting or other news media; medical facilities, libraries, community or civic centers; or public infrastructure improvements; (3) Refinancing any portion of the total project cost or other existing loans or debts of an applicant, except for the purpose of transferring to the employees or to other local interests ownership of a company that would otherwise depart from or cease or substantially reduce operations in the state; (4) Providing funds, directly or indirectly, for payment, distribution, or as a loan, to owners, partners or shareholders of the applicant enterprise, except as ordinary income for services rendered; and (5) Retail projects, except where the regional corporation finds there will be an increase in net new permanent jobs.