CT SB01028

Connecticut Innovations, Incorporated succeeds to all powers, rights, interests and obligations of the Connecticut Brownfields Redevelopment Authority, which is dissolved effective upon passage.

References to the Connecticut Brownfield Redevelopment Authority are removed from statutes governing brownfield liability relief programs and funding sources.

Subsidiaries of Connecticut Innovations may create real estate investment trusts, limited liability companies, and partnerships with private and public entities to remediate, develop, or finance contaminated property.

Connecticut Innovations may invest in private equity investment funds and funds of funds, provided fund managers establish a Connecticut office and make diligent efforts to invest amounts equal to the corporation's investment in technology, bioscience, or precision manufacturing companies in the state or relocating to the state.