Connecticut House Bill HB06029

Connecticut 2019 Regular Session

• Introduced: 1/24/19
• Refer: 1/24/19

Caption

An Act Authorizing Bonds Of The State For A Grant-in-aid To The Connecticut Foundation Solutions Indemnity Company, Llc.

Impact

The core intent behind this bill is to bolster funding options for the Connecticut Foundation Solutions Indemnity Company, LLC, particularly in areas concerning housing support. By making substantial funds available through the issuance of bonds, the state aims to enhance its capacity to address housing issues, potentially facilitating the improvement of housing facilities and services. This influx of resources signifies a legislative commitment to aiding programs designed to stabilize and enhance housing conditions within the state.

Summary

House Bill 6029 proposes the authorization of bonds by the state for the purpose of providing grant-in-aid to the Connecticut Foundation Solutions Indemnity Company, LLC. This bill empowers the State Bond Commission to issue bonds amounting to a principal of no more than one billion dollars. The provision includes a stipulation that one hundred million dollars shall be accessible every fiscal year for a decade starting from July 1, 2019, thus ensuring a steady flow of financial assistance to the intended organization.

Contention

While there may not have been overt opposition to the bill, discussions could arise around the implications of utilizing state bonds for such funding. Stakeholders may question the long-term financial impacts of accruing debt and how it might affect the state's fiscal health. Critics could argue that reliance on bond funding could divert resources from other essential services or priorities, while proponents might advocate for the necessity of such measures to improve the current housing crisis. Questions around accountability and the effective utilization of the grant-in-aid funds could also be pivotal in legislative discourse.