Substitute Senate Bill No. 435, Public Act No. 24-70, is a legislative act that makes several amendments to the laws concerning the designation of farm land and open space land, as well as the Connecticut Entity Transactions Act. The bill provides that agricultural operations are not considered nuisances due to certain conditions if they adhere to approved practices and have been in operation for over a year without substantial changes, with the Commissioner of Agriculture's inspection and approval serving as prima facie evidence of compliance. It also addresses the collection of spring or well water, stating that it shall not be deemed a nuisance due to noise if it conforms to accepted practices and complies with local zoning restrictions. The bill revises the application process for land classification as farm land or open space land, and amends the definition of a "business corporation," affecting the governance of internal affairs of corporations with capital stock. The effective dates for these changes range from July 1, 2024, to October 1, 2024.

Additionally, the bill modifies the legal framework for corporate transactions, including mergers and reorganizations. It adds a new subsection ensuring that the Attorney General retains jurisdiction over entities under other laws, and it changes the requirement for entities holding property for charitable purposes to obtain a court order for property disposition in certain transactions. The bill removes restrictions on certain types of entities from participating in transactions and clarifies permissible transactions between entities of the same type or those allowed by organic law to render the same professional services. It also standardizes the terminology by replacing "statement" with "certificate" in the context of mergers and outlines the process for abandoning a plan of merger, including filing a certificate of abandonment. The bill specifies the requirements for foreign entities in mergers or conversions, including the appointment of the Secretary of the State as an agent for service of process and the contents required in a certificate of domestication.

Statutes affected:
Raised Bill: 52-155a, 52-155b, 54-155a, 54-155b, 34-601, 34-602, 34-608, 34-614, 34-645
GAE Joint Favorable Substitute: 34-601, 34-602, 34-608, 34-614, 34-645
File No. 398: 34-601, 34-602, 34-608, 34-614, 34-645
FIN Joint Favorable: 34-601, 34-602, 34-608, 34-614, 34-645
Public Act No. 24-70: 34-601, 34-602, 34-608, 34-614, 34-645