Connecticut 2019 Regular Session

Connecticut Senate Bill SB00959 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	LCO \\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00959-R01-
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7		-	General Assembly ~~Substitute~~ Bill No. 959
	5	+	General Assembly Raised Bill No. 959
8	6		January Session, 2019
	7	+	LCO No. 5048
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	10	+	Referred to Committee on ENERGY AND TECHNOLOGY
	11	+
	12	+
	13	+	Introduced by:
	14	+	(ET)
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14	19		AN ACT CONCERNING TH E CONNECTICUT GREEN BANK'S
15		-	ELIGIBILITY AS A BORROWER FOR FEDERAL PROGRAMS AND
16		-	MEMBERS OF THE CONNE CTICUT GREEN BANK'S BOARD OF
17		-	DIRECTORS.
	20	+	ELIGIBILITY AS A BORROWER FOR FEDERAL PR OGRAMS.
18	21		Be it enacted by the Senate and House of Representatives in General
19	22		Assembly convened:
20	23
21	24		Section 1. Subparagraph (A) of subdivision (2) of subsection (d) of 1
22	25		section 16-245n of the general statutes is repealed and the following is 2
23	26		substituted in lieu thereof (Effective from passage): 3
24	27		(2) (A) (i) The Connecticut Green Bank may seek to qualify as a 4
25	28		Community Development Financial Institution under Section 4702 of 5
26	29		the United States Code. If approved as a Community Development 6
27	30		Financial Institution, said bank would be treated as a qualified 7
28	31		community development entity for purposes of Section 45D and 8
29	32		Section 1400N(m) of the Internal Revenue Code. 9
30	33		(ii) The Connecticut Green Bank and its subsidiaries may seek to 10
31	34		qualify as eligible borrowers of federal funding, including, but not 11
32	35		limited to, funding from the United States Department of Agriculture 12
33		-	pursuant to 7 CFR 1720. 13
34		-	Sec. 2. Subdivision (1) of subsection (e) of section 16-245n of the 14
35		-	general statutes is repealed and the following is substituted in lieu 15
36		-	thereof (Effective October 1, 2019): 16 Substitute Bill No. 959
	36	+	pursuant to 7 CFR 1720. 13 Raised Bill No. 959
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43		-	(e) (1) The powers of the Connecticut Green Bank shall be vested in 17
44		-	and exercised by a board of directors, which shall consist of eleven 18
45		-	voting and [two] one nonvoting [members] member each with 19
46		-	knowledge and expertise in matters related to the purpose and 20
47		-	activities of said bank appointed as follows: The Treasurer or the 21
48		-	Treasurer's designee, the Commissioner of Energy and Environmental 22
49		-	Protection or the commissioner's designee and the Commissioner of 23
50		-	Economic and Community Development or the commissioner's 24
51		-	designee, each serving ex officio, one member who shall represent a 25
52		-	residential or low-income group appointed by the speaker of the 26
53		-	House of Representatives for a term of four years, one member who 27
54		-	shall have experience in investment fund management appointed by 28
55		-	the minority leader of the House of Representatives for a term of three 29
56		-	years, one member who shall represent an environmental organization 30
57		-	appointed by the president pro tempore of the Senate for a term of four 31
58		-	years, and one member who shall have experience in the finance or 32
59		-	deployment of renewable energy appointed by the minority leader of 33
60		-	the Senate for a term of four years. Thereafter, such members of the 34
61		-	General Assembly shall appoint members of the board to succeed such 35
62		-	appointees whose terms expire and each member so appointed shall 36
63		-	hold office for a period of four years from the first day of July in the 37
64		-	year of his or her appointment. The Governor shall appoint four 38
65		-	members to the board as follows: Two for two years who shall have 39
66		-	experience in the finance of renewable energy; one for four years who 40
67		-	shall be a representative of a labor organization; and one who shall 41
68		-	have experience in research and development or manufacturing of 42
69		-	clean energy. Thereafter, the Governor shall appoint members of the 43
70		-	board to succeed such appointees whose terms expire and each 44
71		-	member so appointed shall hold office for a period of four years from 45
72		-	the first day of July in the year of his or her appointment. The 46
73		-	president of the Connecticut Green Bank shall be elected by the 47
74		-	members of the board. The president of the Connecticut Green Bank 48
75		-	shall serve on the board in an ex-officio, nonvoting capacity. The 49
76		-	Governor shall appoint the chairperson of the board. The board shall 50
77		-	elect from its members a vice chairperson and such other officers as it 51 Substitute Bill No. 959
	40	+	LCO No. 5048 2 of 2
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84		-	deems necessary and shall adopt such bylaws and procedures it deems 52
85		-	necessary to carry out its functions. The board may establish 53
86		-	committees and subcommittees as necessary to conduct its business. 54
87	42		This act shall take effect as follows and shall amend the following
88	43		sections:
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90	45		Section 1 from passage 16-245n(d)(2)(A)
91		-	Sec. 2 October 1, 2019 16-245n(e)(1)
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93		-	ET Joint Favorable Subst.
	47	+	Statement of Purpose:
	48	+	To allow the Connecticut Green Bank and its subsidiaries to seek to
	49	+	qualify as eligible borrowers of federal funding.
	50	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline,
	51	+	except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is
	52	+	not underlined.]
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