Sec. 8-240m. Financial assistance.
Sec. 8-240m. Financial assistance. (a) The state, acting by and through the Commissioner of Economic and Community Development, may provide financial assistance,
including, without limitation financial assistance in the form of grants, loans and the
purchase of capital stock, for the program established pursuant to subsection (a) of
section 8-240k, upon the execution of a financial assistance agreement containing such
terms and conditions as the Commissioner of Economic and Community Development
shall deem necessary and appropriate to fulfill the purposes of sections 8-240k to 8-240n, inclusive. Notwithstanding the provisions of section 4-66c, the Commissioner of
Economic and Community Development may provide such financial assistance from
the proceeds of bonds authorized for the Department of Economic and Community
Development pursuant to said section 4-66c.
(b) The Connecticut Development Authority may provide financial assistance, including, without limitation, financial assistance in the form of grants, loans and the
purchase of capital stock, for the program established pursuant to subsection (a) of
section 8-240k, upon the execution of a financial assistance agreement containing such
terms and conditions as the Connecticut Development Authority shall deem necessary
and appropriate to fulfill the purposes of sections 8-240k to 8-240n, inclusive.
(c) The Connecticut Housing Finance Authority may provide financial assistance,
including, without limitation, financial assistance in the form of grants, loans and the
purchase of capital stock, for the program established pursuant to subsection (a) of
section 8-240k, upon the execution of a financial assistance agreement containing such
terms and conditions as the Connecticut Housing Finance Authority shall deem necessary and appropriate to fulfill the purposes of sections 8-240k to 8-240n, inclusive.
(P.A. 93-404, S. 3, 6; P.A. 95-250, S. 19, 42; 95-309, S. 11, 12.)
History: P.A. 93-404 effective July 1, 1993; P.A. 95-250 deleted former Subsec. (a) re provision of financial assistance
by the Commissioner of Housing, relettering the Subsecs. accordingly, and replaced references to the Commissioner of
Economic Development with the Commissioner of Economic and Community Development; P.A. 95-309 changed effective date of P.A. 95-250 but did not affect this section.