Connecticut General Statutes 32-23tt – Definitions
As used in § 32-23ll, this section, and sections 32-23uu, 32-23vv and 32-235:
Terms Used In Connecticut General Statutes 32-23tt
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
(1) “Corporation” means Connecticut Innovations, Incorporated established under the provisions of this chapter;
(2) “Educational upgrades” means (A) programs designed to increase the basic skills of workers and production workers including, but not limited to training, in written and oral communication, mathematics or science, or (B) training in innovative production methods and workplace oriented computer technical skills;
(3) “Financial assistance” means grants, loans, loan guarantees or interest rate subsidies or any combination thereof;
(4) “Manufacturing or economic base business” means a business defined under subsection (l) of § 32-222*;
(5) “Production worker” means an employee of a manufacturer whose principal duties are located within the state, and consist of the assembly or construction of the manufacturer’s product or a portion thereof; and
(6) “Worker” means an employee of a manufacturing or economic-based business whose principal duties are located within the state.