Connecticut Administrative Code
Title 32 - Commerce and Economic and Community Development
23z - Business Environmental Clean Up Revolving Loan Fund Program
Section 32-23z-1 - Definitions

Universal Citation: CT Reg of State Agencies 32-23z-1

Current through September 9, 2024

The following definitions apply to Section 1 to Section 6 inclusive of these Regulations:

(a) "Applicant" means any business which makes application to the department for a loan or line of credit in accordance with Section 6 of Public Act 89-365 and these Regulations.

(b) "Authority" means the Connecticut Development Authority.

(c) "Borrower" means any business which has been issued a commitment for a loan or line of credit in accordance with Section 6 of Public Act 89-365 and these Regulations.

(d) "Business" means any sole proprietorship, partnership, corporation or other entity in the State of Connecticut which:

(1) has been in business for a period of at least one year prior to the date of its application for a loan or line of credit;

(2) has gross revenues, including revenues of affiliates, of less than three million dollars ($3,000,000) in the most recent fiscal year prior to the date of its application for a loan or line of credit or has fewer than one hundred fifty (150) employees; and

(3) has been doing business and has maintained its principal office and place of business in the State of Connecticut for a period of at least one year prior to the date of its application for a loan or line of credit.

(e) "Commissioner" means the commissioner of economic development.

(f) "Department" means the department of economic development.

(g) "Project Costs" mean expenses incurred in connection with the containment and removal or mitigation of property contamination including but not limited to, fees and expenses of architects, engineers, contractors and other professional consultants, expenses incurred in connection with the removal or treatment of waste and expenses incurred in connection with the purchase, installation and operation of remediation equipment.

(h) "Project" means any action taken in the remediation of property contamination.

(i) "Property Contamination" means the discharge, spillage, uncontrolled loss, seepage or filtration of oil or petroleum or chemical liquids or solid, liquid or gaseous products or hazardous waste.

Disclaimer: These regulations may not be the most recent version. Connecticut may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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