Substitute Senate Bill No. 358
Public Act No. 00-171
An Act Concerning The Special Contaminated Property Remediation And Insurance Fund.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (b) of section 22a-133u of the general statutes, as amended by section 1 of public act 99-216, is repealed and the following is substituted in lieu thereof:
(b) The Commissioner of Economic and Community Development, with the approval of the advisory board established in subsection (e) of this section, may use any funds deposited into the Special Contaminated Property Remediation and Insurance Fund pursuant to section 12-63f, as amended, or section 3 of public act 96-250* for (1) loans to municipalities, individuals or firms for Phase II environmental site assessments, Phase III investigations of real property or for any costs of demolition, including related lead and asbestos removal or abatement costs, undertaken to prepare contaminated real property for development subsequent to any Phase III investigation, and (2) expenses related to administration of this subsection provided such expenses may not exceed one hundred twenty-five thousand dollars per year.
Sec. 2. Subsection (c) of section 22a-133u of the general statutes, as amended by section 1 of public act 99-216, is repealed and the following is substituted in lieu thereof:
(c) Any person, firm, corporation or municipality which has received funds under subsection (b) of this section, as amended by this act, shall repay such funds to the Commissioner of Economic and Community Development, according to a schedule and terms which said commissioner deems appropriate. [, upon] The principal amount of the loan shall be due at a time deemed appropriate by the commissioner as follows: (1) Upon the sale of the property or lease of the property, in whole or in part, which is the subject of such evaluation or demolition; [or] (2) upon the sale or release of a municipality's liens on such property; or (3) upon the approval by the Commissioner of Environmental Protection of a final remedial action report submitted in accordance with section 22a-133y. [provided no] No repayment shall be required, other than interest for the period that the loan is outstanding, if completion of remediation of environmental pollution at or on the property, or the sale or lease of such property, is economically infeasible due to the cost of such remediation. The commissioner may require partial repayment of the loan only if partial repayment is economically feasible. Any funds received by said commissioner as repayment under this subsection shall be deposited into the Special Contaminated Property Remediation and Insurance Fund. The terms of any loan agreement entered into by said commissioner under said subsection may provide for the collection of interest on the loan which may vary according to whether the applicant is a municipality or a private entity and the duration of the repayment schedule for such loan provided the interest cost to the borrower provided for in such agreement shall not exceed the interest cost to the state on [such loan] borrowings of like terms.
Sec. 3. Subsection (i) of section 32-222 of the general statutes is repealed and the following is substituted in lieu thereof:
(i) "Financial assistance" means grants, funds for the purchase of insurance policies and payment of deductibles for insurance policies to cover remediation costs, extensions of credit, loans or loan guarantees, participation interests in loans made to eligible applicants by the Connecticut Development Authority or combinations thereof.
Sec. 4. Subsection (t) of section 32-222 of the general statutes is repealed and the following is substituted in lieu thereof:
(t) "Site and infrastructure improvements" mean improvements to: (1) Sanitary sewer facilities; (2) natural gas pipes, electric, telephone and telecommunications conduits and other facilities and waterlines and water supply facilities, except for any such pipes, wires, conduits, waterlines or facilities which a public service company, as defined in section 16-1, water company, as defined in section 25-32a, or municipal utility is required to install pursuant to any provision of the general statutes or any special act, regulation or order of the Department of Public Utility Control or a certificate of public convenience and necessity; (3) storm drainage facilities, including facilities to control flooding; (4) site grading, landscaping, environmental improvements, including remediation of contaminated sites, parking facilities, roadways and related appurtenances; (5) railroad spurs; (6) public port or docking facilities; and (7) such other related improvements necessary or appropriate to carry out the project.
Approved June 1, 2000