Connecticut § 32-7h - Small business express assistance account.
Full text of Connecticut Connecticut General Statutes § 32-7h — Small business express assistance account., with citation guidance and answers to common questions.
§ 32-7h. Small business express assistance account.
Sec. 32-7h. Small business express assistance account. (a) There is established an account to be known as the “small business express assistance account” which will be a separate, nonlapsing account within the General Fund. The account shall contain any moneys required by law to be deposited in the account. Repayment of principal and interest on loans shall be credited to such fund and shall become part of the assets of the fund. Moneys in the account shall be expended by the Department of Economic and Community Development for the purposes of the Small Business Express program established pursuant to section 32-7g. Except as provided in subsection (d) of section 32-7g, all moneys received for the purposes of the Small Business Express program and payments of principal and interest on any loans given under said program shall be credited to the account.
(b) Except as provided in subsection (d) of section 32-7g, the Commissioner of Economic and Community Development may provide for the payment of any administrative expenses or other costs incurred by the department or its lender partners in carrying out the purposes of the Small Business Express program not to exceed five per cent of funding from this program from the account established pursuant to subsection (a) of this section, provided one per cent shall be dedicated to develop capacity for capital construction projects for minority business enterprises.
(June 12 Sp. Sess. P.A. 12-1, S. 201; P.A. 13-123, S. 7; June Sp. Sess. P.A. 15-5, S. 407; P.A. 16-128, S. 2; June Sp. Sess. P.A. 21-2, S. 285.)
History: June 12 Sp. Sess. P.A. 12-1 effective June 15, 2012; P.A. 13-123 made a technical change in Subsec. (a), effective June 18, 2013; June Sp. Sess. P.A. 15-5 amended Subsec. (b) by increasing maximum payment for administrative costs from 4 per cent to 5 per cent and adding provision re 1 per cent to be dedicated to developing capacity for capital construction projects for minority business enterprises, effective July 1, 2015; P.A. 16-128 added “Except as provided in subsection (g) of section 32-7g,” and made conforming changes, effective June 9, 2016; June Sp. Sess. P.A. 21-2 replaced references to Sec. 32-7g(g) with references to Sec. 32-7g(d), effective July 1, 2021.
Secs. 32-7i to 32-7l. Reserved for future use.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 32-7h
What does Connecticut General Statutes § 32-7h cover?
Section 32-7h ("Small business express assistance account.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 32-7h?
A common citation format is "Connecticut General Statutes § 32-7h" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 32-7h apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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