CT
Connecticut Senate Bill SB00012

Connecticut 2022 Regular Session

Connecticut Senate Bill SB00012 Compare Versions

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7-General Assembly Substitute Bill No. 12
4+
5+LCO No. 633 1 of 6
6+
7+General Assembly Governor's Bill No. 12
88 February Session, 2022
9+LCO No. 633
10+
11+
12+Referred to Committee on FINANCE, REVENUE AND
13+BONDING
14+
15+
16+Introduced by:
17+Request of the Governor Pursuant
18+to Joint Rule 9
919
1020
1121
1222
1323
1424 AN ACT AUTHORIZING AND ADJUSTING BONDS OF THE STATE
15-FOR CAPITAL IMPROVEMENTS AND OTHER PURPOSES AND
16-CONCERNING THE CONNECTICUT BABY BOND TRUST PROGRAM
17-AND GRANTS FOR CERTAIN LAW ENFORCEMENT EQUIPMENT AND
18-HOMELESSNESS PREVENTION AND RESPONSE.
25+FOR CAPITAL IMPROVEMENTS AND INFRASTRUCTURE
26+INVESTMENT AND JOBS ACT MATCHING FUNDS AND EXTENDING
27+THE TIME PERIOD FOR DISTRIBUTING GRANTS FOR CERTAIN LAW
28+ENFORCEMENT EQUIPMENT.
1929 Be it enacted by the Senate and House of Representatives in General
2030 Assembly convened:
2131
2232 Section 1. (Effective July 1, 2022) The State Bond Commission shall 1
2333 have power, in accordance with the provisions of this section and 2
2434 sections 2 to 7, inclusive, of this act, from time to time to authorize the 3
2535 issuance of bonds of the state in one or more series and in principal 4
26-amounts in the aggregate not exceeding $175,800,000. 5
36+amounts in the aggregate not exceeding $75,000,000. 5
2737 Sec. 2. (Effective July 1, 2022) The proceeds of the sale of bonds 6
2838 described in sections 1 to 7, inclusive, of this act, to the extent hereinafter 7
2939 stated, shall be used for the purpose of acquiring, by purchase or 8
3040 condemnation, undertaking, constructing, reconstructing, improving or 9
3141 equipping, or purchasing land or buildings or improving sites for the 10
32-projects hereinafter described, including payment of architectural, 11
42+projects hereinafter described, including payment of architectural, 11 Governor's Bill No. 12
43+
44+
45+
46+LCO No. 633 2 of 6
47+
3348 engineering, demolition or related costs in connection therewith, or of 12
3449 payment of the cost of long-range capital programming and space 13
3550 utilization studies as hereinafter stated: 14
36-(a) For the Office of Policy and Management: State matching funds 15 Substitute Bill No. 12
51+For the Office of Policy and Management: State matching funds for 15
52+projects and programs allowed under the Infrastructure Investment and 16
53+Jobs Act, not exceeding $75,000,000. 17
54+Sec. 3. (Effective July 1, 2022) All provisions of section 3-20 of the 18
55+general statutes or the exercise of any right or power granted thereby 19
56+which are not inconsistent with the provisions of sections 1 to 7, 20
57+inclusive, of this act are hereby adopted and shall apply to all bonds 21
58+authorized by the State Bond Commission pursuant to sections 1 to 7, 22
59+inclusive, of this act, and temporary notes issued in anticipation of the 23
60+money to be derived from the sale of any such bonds so authorized may 24
61+be issued in accordance with said section 3-20 and from time to time 25
62+renewed. Such bonds shall mature at such time or times not exceeding 26
63+twenty years from their respective dates as may be provided in or 27
64+pursuant to the resolution or resolutions of the State Bond Commission 28
65+authorizing such bonds. 29
66+Sec. 4. (Effective July 1, 2022) None of the bonds described in sections 30
67+1 to 7, inclusive, of this act, shall be authorized except upon a finding by 31
68+the State Bond Commission that there has been filed with it a request for 32
69+such authorization, which is signed by the Secretary of the Office of 33
70+Policy and Management or by or on behalf of such state officer, 34
71+department or agency and stating such terms and conditions as said 35
72+commission, in its discretion, may require. 36
73+Sec. 5. (Effective July 1, 2022) For the purposes of sections 1 to 7, 37
74+inclusive, of this act, "state moneys" means the proceeds of the sale of 38
75+bonds authorized pursuant to said sections 1 to 7, inclusive, or of 39
76+temporary notes issued in anticipation of the moneys to be derived from 40
77+the sale of such bonds. Each request filed as provided in section 4 of this 41
78+act for an authorization of bonds shall identify the project for which the 42
79+proceeds of the sale of such bonds are to be used and expended and, in 43 Governor's Bill No. 12
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43-for projects and programs allowed under the Infrastructure Investment 16
44-and Jobs Act, not exceeding $75,000,000. 17
45-(b) For the Connecticut Agricultural Experiment Station: For 18
46-renovations and improvements to greenhouses at the Jenkins 19
47-Laboratory, not exceeding $800,000. 20
48-(c) For the Department of Transportation: 21
49-(1) Assisting municipalities to modernize existing traffic signal 22
50-equipment and operations, not exceeding $75,000,000; 23
51-(2) Providing matching funds necessary for municipalities, school 24
52-districts and school bus operators to submit federal grant applications 25
53-in order to maximize federal funding for the purchase or lease of zero-26
54-emission electric school buses and electric vehicle charging 27
55-infrastructure, not exceeding $20,000,000; 28
56-(3) Construction, alteration, renovation and improvement of noise 29
57-barriers, not exceeding $5,000,000. 30
58-Sec. 3. (Effective July 1, 2022) All provisions of section 3-20 of the 31
59-general statutes or the exercise of any right or power granted thereby 32
60-which are not inconsistent with the provisions of sections 1 to 7, 33
61-inclusive, of this act are hereby adopted and shall apply to all bonds 34
62-authorized by the State Bond Commission pursuant to sections 1 to 7, 35
63-inclusive, of this act, and temporary notes issued in anticipation of the 36
64-money to be derived from the sale of any such bonds so authorized may 37
65-be issued in accordance with said section 3-20 and from time to time 38
66-renewed. Such bonds shall mature at such time or times not exceeding 39
67-twenty years from their respective dates as may be provided in or 40
68-pursuant to the resolution or resolutions of the State Bond Commission 41
69-authorizing such bonds. 42
70-Sec. 4. (Effective July 1, 2022) None of the bonds described in sections 43
71-1 to 7, inclusive, of this act, shall be authorized except upon a finding by 44
72-the State Bond Commission that there has been filed with it a request for 45 Substitute Bill No. 12
83+LCO No. 633 3 of 6
84+
85+addition to any terms and conditions required pursuant to said section 44
86+4, shall include the recommendation of the person signing such request 45
87+as to the extent to which federal, private or other moneys then available 46
88+or thereafter to be made available for costs in connection with any such 47
89+project should be added to the state moneys available or becoming 48
90+available hereunder for such project. If the request includes a 49
91+recommendation that some amount of such federal, private or other 50
92+moneys should be added to such state moneys, then, if and to the extent 51
93+directed by the State Bond Commission at the time of authorization of 52
94+such bonds, such amount of such federal, private or other moneys then 53
95+available, or thereafter to be made available for costs in connection with 54
96+such project, may be added to any state moneys available or becoming 55
97+available hereunder for such project and shall be used for such project. 56
98+Any other federal, private or other moneys then available or thereafter 57
99+to be made available for costs in connection with such project shall, 58
100+upon receipt, be used by the State Treasurer, in conformity with 59
101+applicable federal and state law, to meet the principal of outstanding 60
102+bonds issued pursuant to sections 1 to 7, inclusive, of this act, or to meet 61
103+the principal of temporary notes issued in anticipation of the money to 62
104+be derived from the sale of bonds theretofore authorized pursuant to 63
105+said sections 1 to 7, inclusive, for the purpose of financing such costs, 64
106+either by purchase or redemption and cancellation of such bonds or 65
107+notes or by payment thereof at maturity. Whenever any of the federal, 66
108+private or other moneys so received with respect to such project are used 67
109+to meet the principal of such temporary notes or whenever principal of 68
110+any such temporary notes is retired by application of revenue receipts 69
111+of the state, the amount of bonds theretofore authorized in anticipation 70
112+of which such temporary notes were issued, and the aggregate amount 71
113+of bonds which may be authorized pursuant to section 1 of this act, shall 72
114+each be reduced by the amount of the principal so met or retired. 73
115+Pending use of the federal, private or other moneys so received to meet 74
116+principal as hereinabove directed, the amount thereof may be invested 75
117+by the State Treasurer in bonds or obligations of, or guaranteed by, the 76
118+state or the United States or agencies or instrumentalities of the United 77
119+States, shall be deemed to be part of the debt retirement funds of the 78 Governor's Bill No. 12
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79-such authorization, which is signed by the Secretary of the Office of 46
80-Policy and Management or by or on behalf of such state officer, 47
81-department or agency and stating such terms and conditions as said 48
82-commission, in its discretion, may require. 49
83-Sec. 5. (Effective July 1, 2022) For the purposes of sections 1 to 7, 50
84-inclusive, of this act, "state moneys" means the proceeds of the sale of 51
85-bonds authorized pursuant to said sections 1 to 7, inclusive, or of 52
86-temporary notes issued in anticipation of the moneys to be derived from 53
87-the sale of such bonds. Each request filed as provided in section 4 of this 54
88-act for an authorization of bonds shall identify the project for which the 55
89-proceeds of the sale of such bonds are to be used and expended and, in 56
90-addition to any terms and conditions required pursuant to said section 57
91-4, shall include the recommendation of the person signing such request 58
92-as to the extent to which federal, private or other moneys then available 59
93-or thereafter to be made available for costs in connection with any such 60
94-project should be added to the state moneys available or becoming 61
95-available hereunder for such project. If the request includes a 62
96-recommendation that some amount of such federal, private or other 63
97-moneys should be added to such state moneys, then, if and to the extent 64
98-directed by the State Bond Commission at the time of authorization of 65
99-such bonds, such amount of such federal, private or other moneys then 66
100-available, or thereafter to be made available for costs in connection with 67
101-such project, may be added to any state moneys available or becoming 68
102-available hereunder for such project and shall be used for such project. 69
103-Any other federal, private or other moneys then available or thereafter 70
104-to be made available for costs in connection with such project shall, 71
105-upon receipt, be used by the State Treasurer, in conformity with 72
106-applicable federal and state law, to meet the principal of outstanding 73
107-bonds issued pursuant to sections 1 to 7, inclusive, of this act, or to meet 74
108-the principal of temporary notes issued in anticipation of the money to 75
109-be derived from the sale of bonds theretofore authorized pursuant to 76
110-said sections 1 to 7, inclusive, for the purpose of financing such costs, 77
111-either by purchase or redemption and cancellation of such bonds or 78
112-notes or by payment thereof at maturity. Whenever any of the federal, 79 Substitute Bill No. 12
123+LCO No. 633 4 of 6
124+
125+state, and net earnings on such investments shall be used in the same 79
126+manner as the moneys so invested. 80
127+Sec. 6. (Effective July 1, 2022) Any balance of proceeds of the sale of 81
128+said bonds authorized for any project described in section 2 of this act 82
129+in excess of the cost of such project may be used to complete any other 83
130+project described in said section 2, if the State Bond Commission shall 84
131+so determine and direct. Any balance of proceeds of the sale of said 85
132+bonds in excess of the costs of all the projects described in said section 2 86
133+shall be deposited to the credit of the General Fund. 87
134+Sec. 7. (Effective July 1, 2022) The bonds issued pursuant to this section 88
135+and sections 1 to 6, inclusive, of this act, shall be general obligations of 89
136+the state and the full faith and credit of the state of Connecticut are 90
137+pledged for the payment of the principal of and interest on said bonds 91
138+as the same become due, and accordingly and as part of the contract of 92
139+the state with the holders of said bonds, appropriation of all amounts 93
140+necessary for punctual payment of such principal and interest is hereby 94
141+made, and the State Treasurer shall pay such principal and interest as 95
142+the same become due. 96
143+Sec. 8. Subsection (a) of section 4a-10 of the 2022 supplement to the 97
144+general statutes is repealed and the following is substituted in lieu 98
145+thereof (Effective July 1, 2022): 99
146+(a) For the purposes described in subsection (b) of this section, the 100
147+State Bond Commission shall have the power, from time to time to 101
148+authorize the issuance of bonds of the state in one or more series and in 102
149+principal amounts not exceeding in the aggregate [five hundred forty-103
150+six million one hundred thousand dollars, provided ten million dollars 104
151+of said authorization shall be effective July 1, 2022] five hundred sixty-105
152+one million one hundred thousand dollars. 106
153+Sec. 9. Subsection (c) of section 7-277c of the general statutes is 107
154+repealed and the following is substituted in lieu thereof (Effective July 1, 108
155+2022): 109 Governor's Bill No. 12
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119-private or other moneys so received with respect to such project are used 80
120-to meet the principal of such temporary notes or whenever principal of 81
121-any such temporary notes is retired by application of revenue receipts 82
122-of the state, the amount of bonds theretofore authorized in anticipation 83
123-of which such temporary notes were issued, and the aggregate amount 84
124-of bonds which may be authorized pursuant to section 1 of this act, shall 85
125-each be reduced by the amount of the principal so met or retired. 86
126-Pending use of the federal, private or other moneys so received to meet 87
127-principal as hereinabove directed, the amount thereof may be invested 88
128-by the State Treasurer in bonds or obligations of, or guaranteed by, the 89
129-state or the United States or agencies or instrumentalities of the United 90
130-States, shall be deemed to be part of the debt retirement funds of the 91
131-state, and net earnings on such investments shall be used in the same 92
132-manner as the moneys so invested. 93
133-Sec. 6. (Effective July 1, 2022) Any balance of proceeds of the sale of 94
134-said bonds authorized for any project described in section 2 of this act 95
135-in excess of the cost of such project may be used to complete any other 96
136-project described in said section 2, if the State Bond Commission shall 97
137-so determine and direct. Any balance of proceeds of the sale of said 98
138-bonds in excess of the costs of all the projects described in said section 2 99
139-shall be deposited to the credit of the General Fund. 100
140-Sec. 7. (Effective July 1, 2022) The bonds issued pursuant to this section 101
141-and sections 1 to 6, inclusive, of this act, shall be general obligations of 102
142-the state and the full faith and credit of the state of Connecticut are 103
143-pledged for the payment of the principal of and interest on said bonds 104
144-as the same become due, and accordingly and as part of the contract of 105
145-the state with the holders of said bonds, appropriation of all amounts 106
146-necessary for punctual payment of such principal and interest is hereby 107
147-made, and the State Treasurer shall pay such principal and interest as 108
148-the same become due. 109
149-Sec. 8. (Effective July 1, 2022) The State Bond Commission shall have 110
150-power, in accordance with the provisions of this section and sections 9 111
151-to 15, inclusive, of this act, from time to time to authorize the issuance 112 Substitute Bill No. 12
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160+
161+(c) The Office of Policy and Management shall distribute grants-in-110
162+aid pursuant to this section during the fiscal years ending June 30, 2021, 111
163+[and] June 30, 2022, and June 30, 2023. Any such grant-in-aid shall be for 112
164+up to fifty per cent of the cost of such purchase of body-worn recording 113
165+equipment, digital data storage devices or services or dashboard 114
166+cameras with a remote recorder if the municipality is a distressed 115
167+municipality, as defined in section 32-9p, or up to thirty per cent of the 116
168+cost of such purchase if the municipality is not a distressed municipality, 117
169+provided the costs of such digital data storage services covered by a 118
170+grant-in-aid shall not be for a period of service that is longer than one 119
171+year. 120
172+Sec. 10. Section 20 of public act 21-111, as amended by section 472 of 121
173+public act 21-2 of the June Special Session, is amended to read as follows 122
174+(Effective July 1, 2022): 123
175+The State Bond Commission shall have power, in accordance with the 124
176+provisions of this section and sections 21 to 26, inclusive, of public act 125
177+21-111, from time to time to authorize the issuance of bonds of the state 126
178+in one or more series and in principal amounts in the aggregate not 127
179+exceeding [$241,565,000] $316,565,000. 128
180+Sec. 11. Subdivision (1) of subsection (e) of section 21 of public act 21-129
181+111 is amended to read as follows (Effective July 1, 2022): 130
182+(1) Alterations, renovations and new construction at state parks and 131
183+other recreation facilities, including Americans with Disabilities Act 132
184+improvements, not exceeding [$15,000,000] $30,000,000; 133
185+Sec. 12. Subsection (j) of section 21 of public act 21-111 is amended to 134
186+read as follows (Effective July 1, 2022): 135
187+(j) For the Department of Correction: Alterations, renovations, and 136
188+improvements to existing state-owned buildings for inmate housing, 137
189+programming and staff training space and additional inmate capacity, 138
190+and for support facilities and off-site improvements, not exceeding 139
191+[$10,000,000] $70,000,000. 140 Governor's Bill No. 12
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158-of bonds of the state in one or more series and in principal amounts in 113
159-the aggregate, not exceeding $132,000,000. 114
160-Sec. 9. (Effective July 1, 2022) The proceeds of the sale of the bonds 115
161-described in sections 8 to 15, inclusive, of this act shall be used for the 116
162-purpose of providing grants-in-aid and other financing for the projects, 117
163-programs and purposes hereinafter stated: 118
164-(a) For the Office of Policy and Management: Grants-in-aid to food 119
165-resource organizations for capital improvements, not exceeding 120
166-$10,000,000; 121
167-(b) For the Department of Administrative Services: Grants-in-aid for 122
168-school air quality improvements including, but not limited to, upgrades 123
169-to, replacement of or installation of heating, ventilation and air 124
170-conditioning equipment, not exceeding $100,000,000; 125
171-(c) For the Department of Agriculture: Grants-in-aid for farmland 126
172-restoration and climate resiliency, not exceeding $7,000,000; 127
173-(d) For the Connecticut Higher Education Supplemental Loan 128
174-Authority: Grants-in-aid to residents of the state who graduate from a 129
175-state university or college for student loan reimbursement, not 130
176-exceeding $15,000,000. 131
177-Sec. 10. (Effective July 1, 2022) All provisions of section 3-20 of the 132
178-general statutes or the exercise of any right or power granted thereby 133
179-which are not inconsistent with the provisions of sections 8 to 15, 134
180-inclusive, of this act are hereby adopted and shall apply to all bonds 135
181-authorized by the State Bond Commission pursuant to sections 8 to 15, 136
182-inclusive, of this act, and temporary notes issued in anticipation of the 137
183-money to be derived from the sale of any such bonds so authorized may 138
184-be issued in accordance with said sections 8 to 15, inclusive, and from 139
185-time to time renewed. Such bonds shall mature at such time or times not 140
186-exceeding twenty years from their respective dates as may be provided 141
187-in or pursuant to the resolution or resolutions of the State Bond 142
188-Commission authorizing such bonds. 143 Substitute Bill No. 12
195+LCO No. 633 6 of 6
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195-Sec. 11. (Effective July 1, 2022) None of the bonds described in sections 144
196-8 to 15, inclusive, of this act shall be authorized except upon a finding 145
197-by the State Bond Commission that there has been filed with it a request 146
198-for such authorization, which is signed by the Secretary of the Office of 147
199-Policy and Management or by or on behalf of such state officer, 148
200-department or agency and stating such terms and conditions as said 149
201-commission, in its discretion, may require. 150
202-Sec. 12. (Effective July 1, 2022) For the purposes of sections 8 to 15, 151
203-inclusive, of this act, "state moneys" means the proceeds of the sale of 152
204-bonds authorized pursuant to said sections 8 to 15, inclusive, or of 153
205-temporary notes issued in anticipation of the moneys to be derived from 154
206-the sale of such bonds. Each request filed as provided in section 11 of 155
207-this act for an authorization of bonds shall identify the project for which 156
208-the proceeds of the sale of such bonds are to be used and expended and, 157
209-in addition to any terms and conditions required pursuant to said 158
210-section 11, include the recommendation of the person signing such 159
211-request as to the extent to which federal, private or other moneys then 160
212-available or thereafter to be made available for costs in connection with 161
213-any such project should be added to the state moneys available or 162
214-becoming available under said sections 8 to 15, inclusive, for such 163
215-project. If the request includes a recommendation that some amount of 164
216-such federal, private or other moneys should be added to such state 165
217-moneys, then, if and to the extent directed by the State Bond 166
218-Commission at the time of authorization of such bonds, such amount of 167
219-such federal, private or other moneys then available or thereafter to be 168
220-made available for costs in connection with such project may be added 169
221-to any state moneys available or becoming available hereunder for such 170
222-project and be used for such project. Any other federal, private or other 171
223-moneys then available or thereafter to be made available for costs in 172
224-connection with such project upon receipt shall, in conformity with 173
225-applicable federal and state law, be used by the State Treasurer to meet 174
226-the principal of outstanding bonds issued pursuant to said sections 8 to 175
227-15, inclusive, or to meet the principal of temporary notes issued in 176
228-anticipation of the money to be derived from the sale of bonds 177 Substitute Bill No. 12
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235-theretofore authorized pursuant to said sections 8 to 15, inclusive, for 178
236-the purpose of financing such costs, either by purchase or redemption 179
237-and cancellation of such bonds or notes or by payment thereof at 180
238-maturity. Whenever any of the federal, private or other moneys so 181
239-received with respect to such project are used to meet the principal of 182
240-such temporary notes or whenever the principal of any such temporary 183
241-notes is retired by application of revenue receipts of the state, the 184
242-amount of bonds theretofore authorized in anticipation of which such 185
243-temporary notes were issued, and the aggregate amount of bonds which 186
244-may be authorized pursuant to section 8 of this act shall each be reduced 187
245-by the amount of the principal so met or retired. Pending use of the 188
246-federal, private or other moneys so received to meet the principal as 189
247-directed in this section, the amount thereof may be invested by the State 190
248-Treasurer in bonds or obligations of, or guaranteed by, the state or the 191
249-United States or agencies or instrumentalities of the United States, shall 192
250-be deemed to be part of the debt retirement funds of the state, and net 193
251-earnings on such investments shall be used in the same manner as the 194
252-moneys so invested. 195
253-Sec. 13. (Effective July 1, 2022) The bonds issued pursuant to sections 196
254-8 to 15, inclusive, of this act shall be general obligations of the state and 197
255-the full faith and credit of the state of Connecticut are pledged for the 198
256-payment of the principal of and interest on said bonds as the same 199
257-become due, and accordingly and as part of the contract of the state with 200
258-the holders of said bonds, appropriation of all amounts necessary for 201
259-punctual payment of such principal and interest is hereby made, and 202
260-the State Treasurer shall pay such principal and interest as the same 203
261-become due. 204
262-Sec. 14. (Effective July 1, 2022) In accordance with section 9 of this act, 205
263-the state, through the state agencies specified in said section 9, may 206
264-provide grants-in-aid and other financings to or for the agencies for the 207
265-purposes and projects as described in said section 9. All financing shall 208
266-be made in accordance with the terms of a contract at such time or times 209
267-as shall be determined within authorization of funds by the State Bond 210 Substitute Bill No. 12
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274-Commission. 211
275-Sec. 15. (Effective July 1, 2022) In the case of any grant-in-aid made 212
276-pursuant to subsection (a), (b) or (c) of section 9 of this act that is made 213
277-to any entity which is not a political subdivision of the state, the contract 214
278-entered into pursuant to section 9 of this act shall provide that if the 215
279-premises for which such grant-in-aid was made ceases, within ten years 216
280-of the date of such grant, to be used as a facility for which such grant 217
281-was made, an amount equal to the amount of such grant, minus ten per 218
282-cent per year for each full year which has elapsed since the date of such 219
283-grant, shall be repaid to the state and that a lien shall be placed on such 220
284-land in favor of the state to ensure that such amount shall be repaid in 221
285-the event of such change in use, provided if the premises for which such 222
286-grant-in-aid was made are owned by the state, a municipality or a 223
287-housing authority, no lien need be placed. 224
288-Sec. 16. Section 3-36b of the 2022 supplement to the general statutes 225
289-is repealed and the following is substituted in lieu thereof (Effective from 226
290-passage): 227
291-(a) There is established the Connecticut Baby Bond Trust. The trust 228
292-shall constitute an instrumentality of the state and shall perform 229
293-essential governmental functions as provided in sections 3-36a to 3-36h, 230
294-inclusive, as amended by this act. The trust shall receive and hold all 231
295-payments and deposits or contributions intended for the trust, as well 232
296-as gifts, bequests, endowments or federal, state or local grants and any 233
297-other funds from any public or private source and all earnings until 234
298-disbursed in accordance with section 3-36c, as amended by this act, 3-235
299-36d or 3-36g, as amended by this act. 236
300-(b) The amounts on deposit in the trust shall not constitute property 237
301-of the state and the trust shall not be construed to be a department, 238
302-institution or agency of the state. Amounts on deposit in the trust shall 239
303-not be commingled with state funds and the state shall have no claim to 240
304-or against, or interest in, such funds. Any contract entered into by or any 241
305-obligation of the trust shall not constitute a debt or obligation of the state 242 Substitute Bill No. 12
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312-and the state shall have no obligation to any designated beneficiary or 243
313-any other person on account of the trust and all amounts obligated to be 244
314-paid from the trust shall be limited to amounts available for such 245
315-obligation on deposit in the trust. The amounts on deposit in the trust 246
316-may only be disbursed in accordance with the provisions of section 3-247
317-36c, as amended by this act, 3-36d or 3-36g, as amended by this act. The 248
318-trust shall continue in existence as long as it holds any deposits or has 249
319-any obligations and until its existence is terminated by law and upon 250
320-termination any unclaimed assets shall return to the state. Property of 251
321-the trust shall not be governed by section 3-61a. 252
322-(c) The Treasurer shall be responsible for the receipt, maintenance, 253
323-administration, investing and disbursements of amounts from the trust. 254
324-The trust shall not receive deposits in any form other than cash. 255
325-Sec. 17. Section 3-36c of the 2022 supplement to the general statutes is 256
326-repealed and the following is substituted in lieu thereof (Effective from 257
327-passage): 258
328-The Treasurer, on behalf of the trust and for purposes of the trust, 259
329-may: 260
330-(1) Receive and invest moneys in the trust in any instruments, 261
331-obligations, securities or property in accordance with section 3-36d; 262
332-(2) Enter into one or more contractual agreements, including 263
333-contracts for legal, actuarial, accounting, custodial, advisory, 264
334-management, administrative, advertising, marketing and consulting 265
335-services for the trust and pay for such services from the assets of the 266
336-trust; 267
337-(3) Procure insurance in connection with the trust's property, assets, 268
338-activities or deposits to the trust; 269
339-(4) Apply for, accept and expend gifts, grants or donations from 270
340-public or private sources to enable the trust to carry out its objectives; 271 Substitute Bill No. 12
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346-
347-(5) Adopt regulations in accordance with chapter 54 for purposes of 272
348-[public act 21-111] sections 3-36b to 3-36i, inclusive, as amended by this 273
349-act; 274
350-(6) Sue and be sued; 275
351-(7) Establish one or more funds within the trust; and 276
352-(8) Take any other action necessary to carry out the purposes of 277
353-[public act 21-111] sections 3-36b to 3-36i, inclusive, as amended by this 278
354-act, and incidental to the duties imposed on the Treasurer pursuant to 279
355-[public act 21-111] said sections. 280
356-Sec. 18. Section 3-36e of the 2022 supplement to the general statutes 281
357-is repealed and the following is substituted in lieu thereof (Effective from 282
358-passage): 283
359-[The property of the trust and the earnings on] Disbursements from 284
360-the trust shall be exempt from all taxation by the state and all political 285
361-subdivisions of the state. 286
362-Sec. 19. Section 3-36f of the 2022 supplement to the general statutes is 287
363-repealed and the following is substituted in lieu thereof (Effective from 288
364-passage): 289
365-(a) Notwithstanding any provision of the general statutes, to the 290
366-extent permitted by federal law, no [moneys invested in] disbursements 291
367-from the Connecticut Baby Bond Trust shall be considered to be an asset 292
368-or income for purposes of determining an individual's eligibility for 293
369-assistance under any program administered by the [Department of 294
370-Social Services] state. 295
371-(b) Notwithstanding any provision of the general statutes, no 296
372-[moneys invested in] disbursements from the trust shall be considered 297
373-to be an asset for purposes of determining an individual's eligibility for 298
374-need-based, institutional aid grants offered to an individual at the 299
375-public eligible educational institutions in the state. 300 Substitute Bill No. 12
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382-Sec. 20. Section 3-36g of the 2022 supplement to the general statutes 301
383-is repealed and the following is substituted in lieu thereof (Effective from 302
384-passage): 303
385-[(a) The Treasurer shall establish in the Connecticut Baby Bond Trust 304
386-an accounting for each designated beneficiary. Each such accounting 305
387-shall include the amount transferred to the trust pursuant to section 3-306
388-36h, plus the designated beneficiary's pro rata share of total net earnings 307
389-from investments of sums held in the trust.] 308
390-[(b)] (a) Upon a designated beneficiary's eighteenth birthday and 309
391-completion of a financial literacy requirement as prescribed by the 310
392-Treasurer, such beneficiary shall become eligible to [receive] request an 311
393-amount, to be used for payment of an eligible expenditure, of up to the 312
394-total sum of the [accounting under subsection (a) of this section to be 313
395-used for an eligible expenditure. The Treasurer may adopt regulations, 314
396-in accordance with the provisions of chapter 54, to carry out the 315
397-purposes of this section] amount transferred on behalf of the designated 316
398-beneficiary pursuant to section 3-36h, as amended by this act, and 317
399-adjusted, if applicable, in accordance with said section, plus the 318
400-designated beneficiary's pro rata share of total net earnings from 319
401-investments of sums held in the trust at the time of disbursement. 320
402-[(c)] (b) A designated beneficiary may submit a claim [for such 321
403-accounting] pursuant to subsection (a) of this section, in such form and 322
404-manner as prescribed by the Treasurer, until his or her thirtieth 323
405-birthday, [as prescribed by the Treasurer,] provided such designated 324
406-beneficiary is a resident of the state at the time of such claim. If a 325
407-designated beneficiary (1) is deceased before submitting a valid claim, 326
408-or (2) fails to submit a valid claim, as determined by the Treasurer, 327
409-before his or her thirtieth birthday, [such accounting] the sum such 328
410-designated beneficiary was eligible to claim shall be [credited back to 329
411-the assets of] retained by the trust to credit to designated beneficiaries 330
412-born in subsequent years. 331
413-[(d)] (c) Subject to obtaining adequate consent authorizing the 332 Substitute Bill No. 12
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420-disclosure of confidential information related to designated 333
421-beneficiaries in accordance with all applicable state or federal laws, the 334
422-Treasurer and the Department of Social Services shall enter into a 335
423-memorandum of understanding to establish information sharing 336
424-practices in order to carry out the purposes of [public act 21-111] sections 337
425-3-36b to 3-36h, inclusive, as amended by this act. 338
426-Sec. 21. Section 3-36h of the 2022 supplement to the general statutes 339
427-is repealed and the following is substituted in lieu thereof (Effective from 340
428-passage): 341
429-[Upon] After the birth of a designated beneficiary, the Treasurer may 342
430-transfer up to three thousand two hundred dollars [from the bond 343
431-proceeds issued pursuant to section 3-36i] to the trust. [to be credited 344
432-toward the accounting of such designated beneficiary as described in 345
433-section 3-36g.] For any year in which the funds [made available] 346
434-authorized pursuant to section 3-36i, as amended by this act, [is] are 347
435-insufficient to provide such amount per designated beneficiary, the 348
436-amount so transferred shall be reduced pro rata and the Treasurer shall 349
437-adjust the shares of each designated beneficiary accordingly. For any 350
438-year in which such funds are in excess of the amount sufficient to 351
439-provide such amount per designated beneficiary, the excess funds shall 352
440-be retained by the trust to credit to designated beneficiaries born in 353
441-subsequent years. 354
442-Sec. 22. Section 3-36i of the 2022 supplement to the general statutes is 355
443-repealed and the following is substituted in lieu thereof (Effective from 356
444-passage): 357
445-(a) The State Bond Commission may authorize the issuance of bonds 358
446-of the state, in accordance with the provisions of section 3-20, in 359
447-principal amounts not exceeding in the aggregate six hundred million 360
448-dollars. The proceeds of the sale of bonds described in this section shall 361
449-be used for the purpose of funding the transfers provided for under 362
450-section 3-36h, as amended by this act. The amount authorized for the 363
451-issuance and sale of such bonds in each of the following fiscal years shall 364 Substitute Bill No. 12
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458-not exceed the following corresponding amount for each such fiscal 365
459-year, except that, to the extent the State Bond Commission does not 366
460-provide for the use of all or a portion of such amount in any such fiscal 367
461-year, such amount not provided for shall be carried forward and added 368
462-to the authorized amount for the next two succeeding fiscal years, and 369
463-provided further, the costs of issuance, including expenses of 370
464-implementing the provisions of sections 3-36b to 3-36h, inclusive, as 371
465-amended by this act, and capitalized interest, if any, may be added to 372
466-the capped amount in each fiscal year, and each of the authorized 373
467-amounts shall be effective on July first of the fiscal year indicated as 374
468-follows: 375
469-
470-T1 Fiscal Year Ending Amount
471-T2 June Thirtieth
472-T3
473-2023
474-[$50,000,000]
475-$100,000,000
476-T4 2024 $50,000,000
477-T5 2025 $50,000,000
478-T6 2026
479-7
480-$50,000,000
481-T7 2027 $50,000,000
482-T8 2028 $50,000,000
483-T9 2029 $50,000,000
484-T10 2030 $50,000,000
485-T11 2031 $50,000,000
486-T12 2032 $50,000,000
487-T13 2033 $50,000,000
488-T14 [2034 $50,000,000]
489-
490-(b) [On or before the first day of September in each year, commencing 376
491-September 1, 2022] Commencing with the fiscal year ending June 30, 377
492-2023, not later than the first day of September of each fiscal year, the 378
493-Department of Social Services shall inform the Treasurer of the number 379 Substitute Bill No. 12
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500-of designated beneficiaries born in the prior fiscal year. Promptly 380
501-thereafter, the Treasurer shall submit to the Governor and the Secretary 381
502-of the Office of Policy and Management, by certified mail, a report of 382
503-and a calculation of the total amount required to [deposit] be transferred 383
504-to the trust [for crediting] to credit three thousand two hundred dollars 384
505-[for the account of] to each such designated beneficiary born in the prior 385
506-fiscal year. [as described in section 3-36g.] 386
507-(c) All provisions of section 3-20, or the exercise of any right or power 387
508-granted thereby which are not inconsistent with the provisions of this 388
509-section, are hereby adopted and shall apply to all bonds authorized by 389
510-the State Bond Commission pursuant to this section, and temporary 390
511-notes in anticipation of the money to be derived from the sale of any 391
512-such bonds so authorized may be issued in accordance with section 3-392
513-20 and from time to time renewed. Such bonds shall mature at such time 393
514-or times not exceeding twenty years from their respective dates as may 394
515-be provided in or pursuant to the resolution or resolutions of the State 395
516-Bond Commission authorizing such bonds. All such bonds, notes or 396
517-other obligations shall be general obligations of the state and the full 397
518-faith and credit of the state of Connecticut are pledged for the payment 398
519-of the principal of and interest on such bonds, notes or other obligations 399
520-as the same shall become due, and accordingly and as part of the 400
521-contract of the state with the holders of such bonds, notes or other 401
522-obligations, appropriation of all amounts necessary for punctual 402
523-payment of such principal and interest is hereby made, and the 403
524-Treasurer shall pay such principal and interest as the same become due. 404
525-[All such bonds, notes or other obligations shall be sold at not less than 405
526-par and accrued interest in such manner and on such terms as the 406
527-Treasurer may determine is in the best interest of the state, and shall be 407
528-signed in the name of the state and on its behalf by the Treasurer. All 408
529-such bonds, notes or other obligations shall mature at such time or times 409
530-not later than twenty years after their respective issuance, in such 410
531-principal amounts and at such times, bear such date or dates, be payable 411
532-at such place or places, bear interest at such rate or different or varying 412
533-rates, payable at such time or times, be in such denominations, be in 413 Substitute Bill No. 12
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540-such form with or without interest coupons attached, carry such 414
541-registration and transfer privileges, be payable in such medium of 415
542-payment, be subject to such terms of redemption with or without 416
543-premium and have such additional security, covenant or contract 417
544-provisions, as appropriate or necessary to improve their marketability, 418
545-as the Treasurer shall determine prior to their issuance. In connection 419
546-with such bonds, notes or other obligations, the Treasurer may enter 420
547-into such paying agent agreements, indentures of trust, escrow 421
548-agreements or other agreements, with such parties and with such 422
549-provisions as the Treasurer determines are appropriate or necessary. 423
550-(d) The Treasurer may obtain from a commercial bank or insurance 424
551-company authorized to do business within or without this state a letter 425
552-of credit, line of credit or other liquidity facility or credit facility for the 426
553-purpose of providing funds for the payments in respect of bonds, notes 427
554-or other obligations required by the holder thereof to be redeemed or 428
555-repurchased prior to maturity or for providing additional security for 429
556-such bonds, notes or other obligations. In connection with any such 430
557-liquidity facility or credit facility, the Treasurer may enter into any 431
558-reimbursement agreements, remarketing agreements, standby purchase 432
559-agreements or any other necessary or appropriate agreements on behalf 433
560-of the state in connection with securing, insuring or remarketing such 434
561-bonds, notes or other obligations, on such terms and conditions as the 435
562-Treasurer determines to be in the best interest of the state. The Treasurer 436
563-is authorized to pledge the full faith and credit of the state to the state's 437
564-payment obligations under any such agreement and the Treasurer is 438
565-authorized to include such pledge in any such agreement as part of the 439
566-contract with the provider of such liquidity facility or credit facility. The 440
567-Treasurer shall apply any appropriation for the payment of such bonds, 441
568-notes or other obligations to such reimbursement repayment if such 442
569-liquidity facility or credit facility is drawn upon. As part of the contract 443
570-of the state with the other parties to any agreement entered into 444
571-pursuant to this subsection for which the full faith and credit of the state 445
572-is pledged to the state's payment obligations under such agreement, 446
573-appropriation of all amounts necessary for the punctual payment of the 447 Substitute Bill No. 12
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579-
580-obligations of the state under any such agreement is hereby made and 448
581-the Treasurer shall pay such amounts as the same become due. 449
582-(e) In connection with or incidental to the carrying of such bonds, 450
583-notes or other obligations, or in connection with or incidental to the sale 451
584-and issuance of such bonds, notes or other obligations, the Treasurer 452
585-may enter into such contracts as the Treasurer may determine to be 453
586-necessary or appropriate to place the obligation of the state, as 454
587-represented by the bonds, notes or other obligations, in whole or in part, 455
588-on such interest rate or cash flow basis as the Treasurer may determine, 456
589-including without limitation, interest rate swap agreements, insurance 457
590-agreements, forward payment conversion agree ments, futures 458
591-contracts, contracts providing for payments based on levels of, or 459
592-changes in, interest rates or market indices, contracts to manage interest 460
593-rate risk, including without limitation, interest rate floors or caps, 461
594-options, puts, calls and similar arrangements. Such contracts shall 462
595-contain such payment, security, default, remedy and other terms and 463
596-conditions as the Treasurer may deem appropriate and shall be entered 464
597-into with such party or parties as the Treasurer may select, after giving 465
598-due consideration, where applicable, for the creditworthiness of the 466
599-counter party or counter parties, including any rating by a nationally 467
600-recognized rating agency, the impact on any rating on outstanding 468
601-bonds, notes or other obligations or any other criteria as the Treasurer 469
602-may deem appropriate, provided the unsecured long-term obligations 470
603-of the counter party or counter parties are rated the same or higher than 471
604-the underlying rating of the state on the applicable bonds, notes or other 472
605-obligations by at least one nationally recognized rating agency. The 473
606-Treasurer is authorized to pledge the full faith and credit of the state to 474
607-the state's payment obligations under any contract entered into 475
608-pursuant to this subsection. As part of the contract of the state with the 476
609-other parties to any agreement entered into pursuant to this subsection 477
610-for which the full faith and credit of the state is pledged to the state's 478
611-payment obligations under such agreement, appropriation of all 479
612-amounts necessary for the punctual payment of the obligations of the 480
613-state under any such agreement is hereby made and the Treasurer shall 481 Substitute Bill No. 12
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619-
620-pay such amounts as the same become due. 482
621-(f) The Superior Court shall have jurisdiction to enter judgment 483
622-against the state founded (1) upon any express contract between the 484
623-state and the purchasers and subsequent owners and transferees of any 485
624-bonds, notes or other obligations issued or contracted to be issued by 486
625-the state pursuant to this section, and (2) upon any agreement entered 487
626-into pursuant to subsection (c) or (d) of this section. Any action brought 488
627-under this subsection shall be brought in the superior court for the 489
628-judicial district of Hartford. The jurisdiction conferred upon the 490
629-Superior Court by this subsection includes any set-off, claim or demand 491
630-on the part of the state against any plaintiff commencing an action under 492
631-this subsection. Such action shall be tried to the court without a jury. All 493
632-legal defenses, except governmental immunity, shall be reserved to the 494
633-state. Any action brought under this subsection shall be privileged in 495
634-respect to assignment for trial upon motion of either party. 496
635-(g) Any expense incurred in connection with the issuance or renewal 497
636-of the bonds, notes or other obligations issued pursuant to this section 498
637-shall be paid from the accrued interest and premiums on such bonds, 499
638-notes or other obligations, from the proceeds of the sale of such bonds, 500
639-notes or other obligations or otherwise from the General Fund. The 501
640-Treasurer is authorized to issue such bonds, notes or other obligations 502
641-in such form and manner that the interest on such bonds, notes or other 503
642-obligations may be includable or excludable under the Internal Revenue 504
643-Code of 1986, or any subsequent corresponding internal revenue code 505
644-of the United States, as amended from time to time, in the gross income 506
645-of the holders or owners of such bonds, notes or other obligations. The 507
646-Treasurer may make representations and agreements for the benefit of 508
647-the holders or owners of any such bonds, notes or other obligations 509
648-which are necessary or appropriate to ensure the inclusion or exclusion 510
649-of interest on such bonds, notes or other obligations of the state from 511
650-taxation under the Internal Revenue Code of 1986 or any subsequent 512
651-corresponding internal revenue code of the United States, as amended 513
652-from time to time, including agreements to pay rebates to the federal 514 Substitute Bill No. 12
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658-
659-government of investment earnings derived from the investment of the 515
660-proceeds of bonds, notes or other obligations. The Treasurer may make 516
661-representations and agreements for the benefit of the holders or owners 517
662-of such bonds, notes or other obligations on behalf of the state to provide 518
663-secondary market disclosure information. Any such agreement may 519
664-include: (1) Covenants to provide secondary market disclosure 520
665-information, (2) arrangements for such information to be provided with 521
666-the assistance of a paying agent, trustee or other agent, and (3) remedies 522
667-for breach of such agreement, which remedies may be limited to specific 523
668-performance. The state shall protect and save harmless any official or 524
669-former official of the state from financial loss and expense, including 525
670-legal fees and costs, if any, arising out of any claim, demand, suit or 526
671-judgment by reason of alleged negligence on the part of such official, 527
672-while acting in the discharge of his or her official duties, in providing 528
673-secondary market disclosure information or performing any other 529
674-duties set forth in any agreement to provide secondary market 530
675-disclosure information. Nothing in this section shall be construed to 531
676-preclude the defense of governmental immunity to any such claim, 532
677-demand or suit. For purposes of this subsection "official" means any 533
678-person elected or appointed to office or any state employee. This 534
679-indemnity provision shall not apply to cases of wilful and wanton fraud. 535
680-(h) All such bonds, notes or other obligations, their transfer and the 536
681-income therefrom, including any profit on the sale or transfer thereof, 537
682-shall at all times be exempt from all taxation by the state or under its 538
683-authority, except for estate or succession taxes, but the interest on such 539
684-bonds, notes or other obligations shall be included in the computation 540
685-of any excise or franchise tax. Such bonds, notes or other obligations are 541
686-hereby made and declared to be (1) legal investments for savings banks 542
687-and trustees unless otherwise provided in the instrument creating the 543
688-trust, (2) securities in which all public officers and bodies, all insurance 544
689-companies and associations and persons carrying on an insurance 545
690-business, all banks, bankers, trust companies, savings banks and savings 546
691-associations, including savings and loan associations, building and loan 547
692-associations, investment companies and persons carrying on a banking 548 Substitute Bill No. 12
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698-
699-or investment business, all administrators, guardians, executors, 549
700-trustees and other fiduciaries and all persons who are or may be 550
701-authorized to invest in bonds, notes or other obligations of the state, 551
702-may properly and legally invest funds, including capital in their control 552
703-or belonging to them, and (3) securities that may be deposited with and 553
704-shall be received by all public officers and bodies for any purpose for 554
705-which the deposit of bonds, notes or other obligations of the state is or 555
706-may be authorized.] 556
707-Sec. 23. Section 3-13c of the 2022 supplement to the general statutes is 557
708-repealed and the following is substituted in lieu thereof (Effective from 558
709-passage): 559
710-[Trust funds as] As used in sections 3-13 to 3-13e, inclusive, and 3-560
711-31b, [shall be construed to include] "trust funds" includes the 561
712-Connecticut Municipal Employees' Retirement Fund A, the Connecticut 562
713-Municipal Employees' Retirement Fund B, the Soldiers, Sailors and 563
714-Marines Fund, the Family and Medical Leave Insurance Trust Fund, the 564
715-State's Attorneys' Retirement Fund, the Teachers' Annuity Fund, the 565
716-Teachers' Pension Fund, the Teachers' Survivorship and Dependency 566
717-Fund, the School Fund, the State Employees Retirement Fund, the 567
718-Hospital Insurance Fund, the Policemen and Firemen Survivor's Benefit 568
719-Fund, any trust fund described in subdivision (1) of subsection (b) of 569
720-section 7-450 that is administered, held or invested by the State 570
721-Treasurer, the Connecticut Baby Bond Trust and all other trust funds 571
722-administered, held or invested by the State Treasurer. 572
723-Sec. 24. Subsection (a) of section 4a-10 of the 2022 supplement to the 573
724-general statutes is repealed and the following is substituted in lieu 574
725-thereof (Effective July 1, 2022): 575
726-(a) For the purposes described in subsection (b) of this section, the 576
727-State Bond Commission shall have the power, from time to time to 577
728-authorize the issuance of bonds of the state in one or more series and in 578
729-principal amounts not exceeding in the aggregate [five hundred forty-579
730-six million one hundred thousand dollars, provided ten million dollars 580 Substitute Bill No. 12
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736-
737-of said authorization shall be effective July 1, 2022] five hundred sixty-581
738-one million one hundred thousand dollars. 582
739-Sec. 25. Subsection (c) of section 7-277c of the general statutes is 583
740-repealed and the following is substituted in lieu thereof (Effective July 1, 584
741-2022): 585
742-(c) The Office of Policy and Management shall distribute grants-in-586
743-aid pursuant to this section during the fiscal years ending June 30, 2021, 587
744-[and] June 30, 2022, and June 30, 2023. Any such grant-in-aid shall be for 588
745-up to fifty per cent of the cost of such purchase of body-worn recording 589
746-equipment, digital data storage devices or services or dashboard 590
747-cameras with a remote recorder if the municipality is a distressed 591
748-municipality, as defined in section 32-9p, or up to thirty per cent of the 592
749-cost of such purchase if the municipality is not a distressed municipality, 593
750-provided the costs of such digital data storage services covered by a 594
751-grant-in-aid shall not be for a period of service that is longer than one 595
752-year. 596
753-Sec. 26. Subsection (b) of section 8-37mm of the general statutes is 597
754-repealed and the following is substituted in lieu thereof (Effective July 1, 598
755-2022): 599
756-(b) The proceeds of the sale of said bonds, to the extent of the amount 600
757-stated in subsection (a) of this section shall be used by the Department 601
758-of Housing for the purposes of a homelessness prevention and response 602
759-fund to provide [forgivable loans or] grants to [(1) landlords to renovate 603
760-multifamily homes, including performing building code compliance 604
761-work and other major improvements, in exchange for the landlord's 605
762-participation in a rapid rehousing program. A landlord's participation 606
763-in such program would include, but not be limited to, waiving security 607
764-deposits and abatement of rent for a designated period; and (2) 608
765-landlords to renovate multifamily homes, including performing 609
766-building code compliance work and other major improvements, fund 610
767-ongoing maintenance and repair, or] capitalize operating and 611
768-replacement reserves in [exchange for the abatement of rent by a 612 Substitute Bill No. 12
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774-
775-landlord for scattered site] supportive housing units. 613
776-Sec. 27. Section 10-287d of the 2022 supplement to the general statutes 614
777-is repealed and the following is substituted in lieu thereof (Effective July 615
778-1, 2022): 616
779-For the purposes of funding (1) grants to projects that have received 617
780-approval of the Department of Administrative Services pursuant to 618
781-sections 10-287 and 10-287a, subsection (a) of section 10-65 and section 619
782-10-76e, (2) grants to assist school building projects to remedy safety and 620
783-health violations and damage from fire and catastrophe, and (3) 621
784-technical education and career school projects pursuant to section 10-622
785-283b, the State Treasurer is authorized and directed, subject to and in 623
786-accordance with the provisions of section 3-20, to issue bonds of the state 624
787-from time to time in one or more series in an aggregate amount not 625
788-exceeding thirteen billion [seven] six hundred twelve million one 626
789-hundred sixty thousand dollars. [, provided five hundred fifty million 627
790-dollars of said authorization shall be effective July 1, 2022.] Bonds of 628
791-each series shall bear such date or dates and mature at such time or times 629
792-not exceeding thirty years from their respective dates and be subject to 630
793-such redemption privileges, with or without premium, as may be fixed 631
794-by the State Bond Commission. They shall be sold at not less than par 632
795-and accrued interest and the full faith and credit of the state is pledged 633
796-for the payment of the interest thereon and the principal thereof as the 634
797-same shall become due, and accordingly and as part of the contract of 635
798-the state with the holders of said bonds, appropriation of all amounts 636
799-necessary for punctual payment of such principal and interest is hereby 637
800-made, and the State Treasurer shall pay such principal and interest as 638
801-the same become due. The State Treasurer is authorized to invest 639
802-temporarily in direct obligations of the United States, United States 640
803-agency obligations, certificates of deposit, commercial paper or bank 641
804-acceptances such portion of the proceeds of such bonds or of any notes 642
805-issued in anticipation thereof as may be deemed available for such 643
806-purpose. 644
807-Sec. 28. Subsection (a) of section 23-103 of the 2022 supplement to the 645 Substitute Bill No. 12
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813-
814-general statutes is repealed and the following is substituted in lieu 646
815-thereof (Effective July 1, 2022): 647
816-(a) For the purposes described in subsection (b) of this section, the 648
817-State Bond Commission shall have the power, from time to time to 649
818-authorize the issuance of bonds of the state in one or more series and in 650
819-principal amounts not exceeding in the aggregate [nineteen] twenty-two 651
820-million dollars. [, provided three million dollars of said authorization 652
821-shall be effective July 1, 2022.] 653
822-Sec. 29. Section 8 of public act 14-98, as amended by section 189 of 654
823-public act 16-4 of the May special session, section 517 of public act 17-2 655
824-of the June special session, section 28 of public act 18-178 and section 68 656
825-of public act 21-111, is amended to read as follows (Effective July 1, 2022): 657
826-The State Bond Commission shall have power, in accordance with the 658
827-provisions of this section and sections 9 to 15, inclusive, of public act 14-659
828-98, from time to time to authorize the issuance of bonds of the state in 660
829-one or more series and in principal amounts in the aggregate, not 661
830-exceeding [$172,765,800] $182,765,800. 662
831-Sec. 30. Subdivision (4) of subsection (e) of section 9 of public act 14-663
832-98, as amended by section 69 of public act 21-111, is amended to read as 664
833-follows (Effective July 1, 2022): 665
834-(4) Grants-in-aid to nonprofit organizations sponsoring children's 666
835-museums, aquariums and science-related programs, not exceeding 667
836-[$27,100,000] $37,100,000, provided not more than [$10,500,000] 668
837-$20,500,000 shall be used as a grant-in-aid to the Connecticut Science 669
838-Center, not more than $6,600,000 shall be used as a grant-in-aid to the 670
839-Maritime Aquarium in Norwalk and not more than $10,000,000 shall be 671
840-used as a grant-in-aid to the Children's Museum in West Hartford; 672
841-Sec. 31. Section 1 of public act 21-111 is amended to read as follows 673
842-(Effective July 1, 2022): 674
843-The State Bond Commission shall have power, in accordance with the 675 Substitute Bill No. 12
844-
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849-
850-provisions of this section and sections 2 to 7, inclusive, of [this act] public 676
851-act 21-111, from time to time to authorize the issuance of bonds of the 677
852-state in one or more series and in principal amounts in the aggregate not 678
853-exceeding [$334,558,500] $334,058,500. 679
854-Sec. 32. Subsection (e) of section 2 of public act 21-111 is repealed 680
855-(Effective July 1, 2022) 681
856-Sec. 33. Section 20 of public act 21-111, as amended by section 472 of 682
857-public act 21-2 of the June special session, is amended to read as follows 683
858-(Effective July 1, 2022): 684
859-The State Bond Commission shall have power, in accordance with the 685
860-provisions of this section and sections 21 to 26, inclusive, of public act 686
861-21-111, from time to time to authorize the issuance of bonds of the state 687
862-in one or more series and in principal amounts in the aggregate not 688
863-exceeding [$241,565,000] $286,565,000. 689
864-Sec. 34. Subdivision (1) of subsection (e) of section 21 of public act 21-690
865-111 is amended to read as follows (Effective July 1, 2022): 691
866-(1) Alterations, renovations and new construction at state parks and 692
867-other recreation facilities, including Americans with Disabilities Act 693
868-improvements, not exceeding [$15,000,000] $30,000,000; 694
869-Sec. 35. Subsection (j) of section 21 of public act 21-111 is amended to 695
870-read as follows (Effective July 1, 2022): 696
871-(j) For the Department of Correction: Alterations, renovations, and 697
872-improvements to existing state-owned buildings for inmate housing, 698
873-programming and staff training space and additional inmate capacity, 699
874-and for support facilities and off-site improvements, not exceeding 700
875-[$10,000,000] $40,000,000. 701
876-Sec. 36. Section 31 of public act 21-111, as amended by section 474 of 702
877-public act 21-2 of the June special session, is amended to read as follows 703
878-(Effective July 1, 2022): 704 Substitute Bill No. 12
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884-
885-The State Bond Commission shall have power, in accordance with the 705
886-provisions of this section and sections 32 to 38, inclusive, of public act 706
887-21-111, from time to time to authorize the issuance of bonds of the state 707
888-in one or more series and in principal amounts in the aggregate, not 708
889-exceeding [$198,550,000] $203,550,000. 709
890-Sec. 37. Subdivision (1) of subsection (b) of section 32 of public act 21-710
891-111 is amended to read as follows (Effective July 1, 2022): 711
892-(1) Grants-in-aid to municipalities for open space land acquisition 712
893-and development for conservation or recreational purposes, not 713
894-exceeding [$10,000,000] $15,000,000; 714
895-Sec. 38. (Effective July 1, 2022) (a) For the purposes described in 715
896-subsection (b) of this section, the State Bond Commission shall have the 716
897-power from time to time to authorize the issuance of bonds of the state 717
898-in one or more series and in principal amounts not exceeding in the 718
899-aggregate ten million dollars. 719
900-(b) The proceeds of the sale of said bonds, to the extent of the amount 720
901-stated in subsection (a) of this section, shall be used by the Connecticut 721
902-State Colleges and Universities for the purpose of constructing, 722
903-improving or equipping child care centers on or near college and 723
904-university campuses, including, but not limited to, payment of 724
905-associated costs for architectural, engineering or demolition services. 725
906-(c) All provisions of section 3-20 of the general statutes, or the exercise 726
907-of any right or power granted thereby, which are not inconsistent with 727
908-the provisions of this section are hereby adopted and shall apply to all 728
909-bonds authorized by the State Bond Commission pursuant to this 729
910-section, and temporary notes in anticipation of the money to be derived 730
911-from the sale of any such bonds so authorized may be issued in 731
912-accordance with said section 3-20 and from time to time renewed. Such 732
913-bonds shall mature at such time or times not exceeding twenty years 733
914-from their respective dates as may be provided in or pursuant to the 734
915-resolution or resolutions of the State Bond Commission authorizing 735 Substitute Bill No. 12
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921-
922-such bonds. None of said bonds shall be authorized except upon a 736
923-finding by the State Bond Commission that there has been filed with it 737
924-a request for such authorization which is signed by or on behalf of the 738
925-Secretary of the Office of Policy and Management and states such terms 739
926-and conditions as said commission, in its discretion, may require. Said 740
927-bonds issued pursuant to this section shall be general obligations of the 741
928-state and the full faith and credit of the state of Connecticut are pledged 742
929-for the payment of the principal of and interest on said bonds as the 743
930-same become due, and accordingly and as part of the contract of the 744
931-state with the holders of said bonds, appropriation of all amounts 745
932-necessary for punctual payment of such principal and interest is hereby 746
933-made, and the State Treasurer shall pay such principal and interest as 747
934-the same become due. 748
935-Sec. 39. (Effective July 1, 2022) (a) For the purposes described in 749
936-subsection (b) of this section, the State Bond Commission shall have the 750
937-power from time to time to authorize the issuance of bonds of the state 751
938-in one or more series and in principal amounts not exceeding in the 752
939-aggregate twenty million dollars. 753
940-(b) The proceeds of the sale of said bonds, to the extent of the amount 754
941-stated in subsection (a) of this section, shall be used by the Department 755
942-of Housing for the purpose of developing housing for health care 756
943-workers, in collaboration with the Chief Workforce Officer. 757
944-(c) All provisions of section 3-20 of the general statutes, or the exercise 758
945-of any right or power granted thereby, which are not inconsistent with 759
946-the provisions of this section are hereby adopted and shall apply to all 760
947-bonds authorized by the State Bond Commission pursuant to this 761
948-section, and temporary notes in anticipation of the money to be derived 762
949-from the sale of any such bonds so authorized may be issued in 763
950-accordance with said section 3-20 and from time to time renewed. Such 764
951-bonds shall mature at such time or times not exceeding twenty years 765
952-from their respective dates as may be provided in or pursuant to the 766
953-resolution or resolutions of the State Bond Commission authorizing 767
954-such bonds. None of said bonds shall be authorized except upon a 768 Substitute Bill No. 12
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960-
961-finding by the State Bond Commission that there has been filed with it 769
962-a request for such authorization which is signed by or on behalf of the 770
963-Secretary of the Office of Policy and Management and states such terms 771
964-and conditions as said commission, in its discretion, may require. Said 772
965-bonds issued pursuant to this section shall be general obligations of the 773
966-state and the full faith and credit of the state of Connecticut are pledged 774
967-for the payment of the principal of and interest on said bonds as the 775
968-same become due, and accordingly and as part of the contract of the 776
969-state with the holders of said bonds, appropriation of all amounts 777
970-necessary for punctual payment of such principal and interest is hereby 778
971-made, and the State Treasurer shall pay such principal and interest as 779
972-the same become due. 780
973197 This act shall take effect as follows and shall amend the following
974198 sections:
975199
976200 Section 1 July 1, 2022 New section
977201 Sec. 2 July 1, 2022 New section
978202 Sec. 3 July 1, 2022 New section
979203 Sec. 4 July 1, 2022 New section
980204 Sec. 5 July 1, 2022 New section
981205 Sec. 6 July 1, 2022 New section
982206 Sec. 7 July 1, 2022 New section
983-Sec. 8 July 1, 2022 New section
984-Sec. 9 July 1, 2022 New section
985-Sec. 10 July 1, 2022 New section
986-Sec. 11 July 1, 2022 New section
987-Sec. 12 July 1, 2022 New section
988-Sec. 13 July 1, 2022 New section
989-Sec. 14 July 1, 2022 New section
990-Sec. 15 July 1, 2022 New section
991-Sec. 16 from passage 3-36b
992-Sec. 17 from passage 3-36c
993-Sec. 18 from passage 3-36e
994-Sec. 19 from passage 3-36f
995-Sec. 20 from passage 3-36g
996-Sec. 21 from passage 3-36h
997-Sec. 22 from passage 3-36i Substitute Bill No. 12
207+Sec. 8 July 1, 2022 4a-10(a)
208+Sec. 9 July 1, 2022 7-277c(c)
209+Sec. 10 July 1, 2022 PA 21-111, Sec. 20
210+Sec. 11 July 1, 2022 PA 21-111, Sec. 21(e)(1)
211+Sec. 12 July 1, 2022 PA 21-111, Sec. 21(j)
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1003-
1004-Sec. 23 from passage 3-13c
1005-Sec. 24 July 1, 2022 4a-10(a)
1006-Sec. 25 July 1, 2022 7-277c(c)
1007-Sec. 26 July 1, 2022 8-37mm(b)
1008-Sec. 27 July 1, 2022 10-287d
1009-Sec. 28 July 1, 2022 23-103(a)
1010-Sec. 29 July 1, 2022 PA 14-98, Sec. 8
1011-Sec. 30 July 1, 2022 PA 14-98, Sec. 9(e)(4)
1012-Sec. 31 July 1, 2022 PA 21-111, Sec. 1
1013-Sec. 32 July 1, 2022 PA 21-111, Sec. 2(e)
1014-Sec. 33 July 1, 2022 PA 21-111, Sec. 20
1015-Sec. 34 July 1, 2022 PA 21-111, Sec. 21(e)(1)
1016-Sec. 35 July 1, 2022 PA 21-111, Sec. 21(j)
1017-Sec. 36 July 1, 2022 PA 21-111, Sec. 31
1018-Sec. 37 July 1, 2022 PA 21-111, Sec. 32(b)(1)
1019-Sec. 38 July 1, 2022 New section
1020-Sec. 39 July 1, 2022 New section
1021-
1022-FIN Joint Favorable Subst.
213+Statement of Purpose:
214+To implement the Governor's budget recommendations.
215+[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
216+that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
217+underlined.]
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