Connecticut 2019 Regular Session

Connecticut House Bill HB07068 Compare Versions

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7	7		General Assembly Substitute Bill No. 7068
8	8		January Session, 2019
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12	12		AN ACT MAKING MINOR REVISIONS TO STATUTE S REGARDING
13	13		BOND-FINANCED HOUSING PROGRAMS.
14	14		Be it enacted by the Senate and House of Representatives in General
15	15		Assembly convened:
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17	17		Section 1. Subdivision (2) of subsection (a) of section 8-37qq of the 1
18	18		general statutes is repealed and the following is substituted in lieu 2
19	19		thereof (Effective October 1, 2019): 3
20	20		(2) "Administrative expense" means any administrative or other cost 4
21	21		or expense incurred by the state in carrying out the provisions of any 5
22	22		of the following bond-financed state housing programs, including the 6
23	23		hiring of necessary employees and the entering of necessary contracts: 7
24	24		Housing authority programs for social and supplementary services, 8
25	25		affordable housing pursuant to section 8-37pp, project rehabilitation 9
26	26		and improvement, and energy conservation pursuant to section 8-44a, 10
27	27		moderate rental housing pursuant to section 8-70, moderate cost 11
28	28		housing pursuant to section 8-82, housing for elderly persons pursuant 12
29	29		to section 8-114a, congregate housing for the elderly pursuant to 13
30	30		section 8-119h, housing for low-income persons pursuant to section 8-14
31	31		119dd, urban homesteading pursuant to subsection (a) of section 8-15
32	32		169w, financial assistance for development of limited equity 16
33	33		cooperatives and mutual housing pursuant to section 8-214f, financial 17
34	34		assistance to elderly homeowners for emergency repairs or 18
35	35		rehabilitation pursuant to section 8-219b, home ownership loans 19
36	36		pursuant to subsection (a) of section 8-286, financial assistance for the 20 Substitute Bill No. 7068
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43	43		development of quality rental housing and homeownership pursuant 21
44	44		to section 8-336p, housing programs for homeless persons pursuant to 22
45	45		sections 8-356 and 8-357, private rental investment mortgage and 23
46	46		equity program pursuant to sections 8-401 and 8-403, assistance for 24
47	47		housing predevelopment costs pursuant to sections 8-410 and 8-411, 25
48	48		residential subsurface sewage disposal system repair pursuant to 26
49	49		section 8-420, and energy conservation loans pursuant to section 16a-27
50	50		40b. 28
51	51		Sec. 2. Section 8-37mm of the general statutes is repealed and the 29
52	52		following is substituted in lieu thereof (Effective October 1, 2019): 30
53	53		(a) For the purposes described in subsection (b) of this section, the 31
54	54		State Bond Commission shall have the power, from time to time to 32
55	55		authorize the issuance of bonds of the state in one or more series and 33
56	56		in principal amounts not exceeding in the aggregate thirty million 34
57	57		dollars, provided fifteen million dollars of said authorization shall be 35
58	58		effective July 1, 2016. 36
59	59		(b) The proceeds of the sale of said bonds, to the extent of the 37
60	60		amount stated in subsection (a) of this section shall be [used by the 38
61	61		Department of Housing for the purposes of ] deposited in a 39
62	62		homelessness prevention and response fund and used by the 40
63	63		Department of Housing to provide forgivable loans or grants to [(1)] 41
64	64		landlords [to] for one or more of the following purposes: (1) To 42
65	65		renovate multifamily homes, including performing building code 43
66	66		compliance work and other major improvements, [in exchange for the 44
67	67		landlord's participation in a rapid rehousing program. A landlord's 45
68	68		participation in such program would include, but not be limited to, 46
69	69		waiving security deposits and abatement of rent for a designated 47
70	70		period; and (2) landlords to renovate multifamily homes, including 48
71	71		performing building code compliance work and other major 49
72	72		improvements, fund ongoing maintenance and repair, or capitalize 50
73	73		operating and replacement reserves in exchange for the abatement of 51
74	74		rent by a landlord for scattered site supportive housing units] (2) to 52
75	75		fund ongoing maintenance and repair, or (3) to capitalize operating 53 Substitute Bill No. 7068
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82	82		and replacement reserves. In exchange for such forgivable loans or 54
83	83		grants, the landlord shall participate in a rapid-rehousing or 55
84	84		supportive housing program, which shall include, but need not be 56
85	85		limited to, a requirement that the landlord abate rent for a designated 57
86	86		period and waive security deposits. 58
87	87		(c) The Department of Housing may use not more than five per cent 59
88	88		of the total allocation for administrative purposes. 60
89	89		(d) All provisions of section 3-20, or the exercise of any right or 61
90	90		power granted thereby, which are not inconsistent with the provisions 62
91	91		of this section are hereby adopted and shall apply to all bonds 63
92	92		authorized by the State Bond Commission pursuant to this section, and 64
93	93		temporary notes in anticipation of the money to be derived from the 65
94	94		sale of any such bonds so authorized may be issued in accordance with 66
95	95		said section 3-20 and from time to time renewed. Such bonds shall 67
96	96		mature at such time or times not exceeding twenty years from their 68
97	97		respective dates as may be provided in or pursuant to the resolution or 69
98	98		resolutions of the State Bond Commission authorizing such bonds. 70
99	99		None of said bonds shall be authorized except upon a finding by the 71
100	100		State Bond Commission that there has been filed with it a request for 72
101	101		such authorization which is signed by or on behalf of the Secretary of 73
102	102		the Office of Policy and Management and states such terms and 74
103	103		conditions as said commission, in its discretion, may require. Said 75
104	104		bonds issued pursuant to this section shall be general obligations of the 76
105	105		state and the full faith and credit of the state of Connecticut are 77
106	106		pledged for the payment of the principal of and interest on said bonds 78
107	107		as the same become due, and accordingly and as part of the contract of 79
108	108		the state with the holders of said bonds, appropriation of all amounts 80
109	109		necessary for punctual payment of such principal and interest is 81
110	110		hereby made, and the State Treasurer shall pay such principal and 82
111	111		interest as the same become due. 83
112	112		This act shall take effect as follows and shall amend the following
113	113		sections:
114	114		Substitute Bill No. 7068
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121	121		Section 1 October 1, 2019 8-37qq(a)(2)
122	122		Sec. 2 October 1, 2019 8-37mm
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	124	+	Statement of Legislative Commissioners:
	125	+	The title was changed.
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125	127		HSG Joint Favorable Subst. -LCO
126		-	FIN Joint Favorable
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