Sec. 32-41s. Biotechnology, pharmaceutical and photonics businesses. Benefits. Regulations.
Sec. 32-41s. Biotechnology, pharmaceutical and photonics businesses. Benefits. Regulations. (a) As used in this section:
(1) "Eligible business" means a business which (A) has not more than three hundred
employees at any time during the preceding twelve months and (B) is engaged in biotechnology, pharmaceutical or photonics research, development or production in the
state; and
(2) "Eligible commercial property" means (A) real or personal property which an
eligible business has (i) owned or leased and (ii) utilized at all times during the preceding
twelve months or (B) real property which the Commissioner of Economic and Community Development or Connecticut Innovations, Incorporated has certified as newly constructed or substantially renovated and expanded primarily for occupancy by one or
more eligible businesses.
(b) On and after July 1, 1997, eligible businesses and eligible commercial property
located in any municipality which has (1) a major research university with programs in
biotechnology, pharmaceuticals or photonics and (2) an enterprise zone, shall be entitled
to the same benefits, subject to the same conditions, under the general statutes for which
businesses located in an enterprise zone qualify.
(c) Connecticut Innovations, Incorporated may provide lease guarantees or other
financial aid for facilities, improvements and equipment, to benefit any eligible business
which is unable to secure financing for such items on commercially reasonable terms.
(d) Connecticut Innovations, Incorporated may recommend regulations to carry out
the purposes of this section, which the Commissioner of Economic and Community
Development shall adopt in accordance with chapter 54.
(e) Connecticut Innovations, Incorporated shall evaluate the feasibility of establishing a bio-processing facility within this state. If determined to be feasible, Connecticut
Innovations, Incorporated shall facilitate the formation of a business consortium, in
which it may participate, to launch and operate such facility.
(P.A. 96-264, S. 4, 8; P.A. 99-223, S. 2, 3.)
History: P.A. 96-264 effective July 1, 1996; P.A. 99-223 added new Subsec. (e) re participation in a bio-processing
facility, effective June 29, 1999.