CT SB00957

Replaces terminology of "grants-in-aid" with "financial assistance" throughout regenerative medicine research fund statutes, expanding the definition to include grants, loans, loan guarantees, equity investments, and other financing forms.

Eliminates the separate Regenerative Medicine Research Peer Review Committee and transfers peer review functions to the Regenerative Medicine Research Advisory Committee, which shall contract with third-party peer reviewers to evaluate applications.

Expands the definition of "early-stage business" in the Connecticut Bioscience Innovation Fund from businesses operating not more than three years to not more than seven years, with additional requirement that clinical trials have not begun phase II evaluation.

Consolidates the Business Environmental Clean-Up Revolving Loan Fund and the Environmental Assistance Revolving Loan Fund into the Connecticut Growth Fund effective July 1, 2015, with all existing assets, liabilities, and outstanding loans transferring to the consolidated fund.

Requires the Regenerative Medicine Research Advisory Committee to consult with contracted third-party peer reviewers when establishing guidelines for rating and scoring financial assistance applications.