Sec. 32-41s. Biotechnology, pharmaceutical and photonics businesses. Benefits. Regulations. - Connecticut Statutes

      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.