Connecticut 2023 Regular Session

Connecticut House Bill HB05441 Compare Versions

OldNewDifferences
1+
2+
3+LCO \\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-R02-
4+HB.docx
5+1 of 9
6+
7+General Assembly Substitute Bill No. 5441
8+January Session, 2023
19
210
311
4-Substitute House Bill No. 5441
5-
6-Public Act No. 23-70
7-
8-
912 AN ACT CONCERNING CLINICAL PLACEMENTS FOR NURSING
10-STUDENTS, REPORTING BY THE OFFICE OF WORKFORCE
11-STRATEGY, PROMOTION OF THE DEVELOPMENT OF THE
12-INSURANCE INDUSTRY AND CONNECTICUT HIGHER EDUCATION
13-SUPPLEMENTAL LOAN AUTHORITY STUDENT LOAN SUBSIDY
14-PROGRAMS FOR VARIOUS PROFESSIONS.
13+STUDENTS, THE ESTABLISHMENT OF REGISTERED
14+APPRENTICESHIPS FOR TEACHERS, REPORTING BY THE OFFICE
15+OF WORKFORCE STRATEGY, PROMOTION OF THE DEVELOPMENT
16+OF THE INSURANCE INDUSTRY AND A STUDENT LOAN SUBSIDY
17+FOR HIGH-DEMAND PROFESSIONS.
1518 Be it enacted by the Senate and House of Representatives in General
1619 Assembly convened:
1720
18-Section 1. (Effective from passage) (a) There is established a task force
19-to develop a plan for establishing clinical placements at state facilities
20-for nursing students at public and independent institutions of higher
21-education. The task force shall examine (1) the types of state facilities
22-that can accommodate such clinical placements, including, but not
23-limited to, state correctional facilities and facilities operated by the
24-Departments of Mental Health and Addiction Services, Children and
25-Families, and Developmental Services, (2) the number and types of
26-clinical placements that may be established at each state facility, (3) the
27-staffing requirements for providing such clinical placements and
28-whether state facilities meet such staffing requirements, and (4) the total
29-and per-student cost to state facilities to provide such clinical
30-placements.
31-(b) The task force shall consist of the following members: Substitute House Bill No. 5441
21+Section 1. (Effective from passage) (a) There is established a task force 1
22+to develop a plan for establishing clinical placements at state facilities 2
23+for nursing students at public institutions of higher education. The task 3
24+force shall examine (1) the types of state facilities that can accommodate 4
25+such clinical placements, including, but not limited to, state correctional 5
26+facilities and facilities operated by the Departments of Mental Health 6
27+and Addiction Services, Children and Families and Developmental 7
28+Services, (2) the number and types of clinical placements that may be 8
29+established at each state facility, (3) the staffing requirements for 9
30+providing such clinical placements and whether state facilities meet 10
31+such staffing requirements, and (4) the total and per-student cost to state 11
32+facilities to provide such clinical placements. 12
33+(b) The task force shall consist of the following members: 13
34+(1) Two appointed by the speaker of the House of Representatives, 14
35+one of whom has expertise in clinical nursing and one of whom is a 15 Substitute Bill No. 5441
3236
33-Public Act No. 23-70 2 of 9
3437
35-(1) One appointed by the speaker of the House of Representatives,
36-who is a nursing education program administrator at The University of
37-Connecticut;
38-(2) One appointed by the president pro tempore of the Senate, who is
39-a nursing education program administrator at an independent
40-institution of higher education, as defined in section 10a-173 of the
41-general statutes;
42-(3) One appointed by the majority leader of the Hous e of
43-Representatives, who is a nursing education program administrator at
44-a state university within the Connecticut State University System;
45-(4) One appointed by the majority leader of the Senate, who is a
46-nursing education program administrator at a regional community-
47-technical college;
48-(5) One appointed by the minority leader of the House of
49-Representatives, who is a nursing education program administrator at
50-an independent institution of higher education, as defined in section
51-10a-173 of the general statutes;
52-(6) One appointed by the minority leader of the Senate, who is a
53-nursing education program administrator at The University of
54-Connecticut Health Center;
55-(7) One appointed by the Commissioner of Correction, who is a
56-licensed medical provider employed by the Department of Correction;
57-(8) One appointed by the Commissioner of Public Health, who is a
58-registered nurse employed by the Department of Public Health;
59-(9) One appointed by the Commissioner of Mental Health and
60-Addiction Services, who is a registered nurse employed by the
61-Department of Mental Health and Addiction Services; Substitute House Bill No. 5441
38+LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-
39+R02-HB.docx }
40+2 of 9
6241
63-Public Act No. 23-70 3 of 9
42+nursing education program administrator at a public institution of 16
43+higher education; 17
44+(2) Two appointed by the president pro tempore of the Senate, one of 18
45+whom is a nurse administrator at a state agency or a state facility and 19
46+one of whom has expertise in clinical placements for nursing students; 20
47+(3) One appointed by the majority leader of the House of 21
48+Representatives, who is a representative of the Department of Public 22
49+Health and is a registered nurse; 23
50+(4) One appointed by the majority leader of the Senate, who is a 24
51+representative of the Department of Mental Health and Addiction 25
52+Services and is a registered nurse; 26
53+(5) One appointed by the minority leader of the House of 27
54+Representatives, who is a representative of the Department of 28
55+Developmental Services and is a registered nurse; and 29
56+(6) One appointed by the minority leader of the Senate, who is a 30
57+representative of the Department of Children and Families and is a 31
58+registered nurse. 32
59+(c) Any member of the task force appointed under subdivisions (1) 33
60+and (2) of subsection (b) of this section may be a member of the General 34
61+Assembly. 35
62+(d) All initial appointments to the task force shall be made not later 36
63+than thirty days after the effective date of this section. Any vacancy shall 37
64+be filled by the appointing authority. 38
65+(e) The speaker of the House of Representatives and the president pro 39
66+tempore of the Senate shall select the chairpersons of the task force from 40
67+among the members of the task force. Such chairpersons shall schedule 41
68+the first meeting of the task force, which shall be held not later than sixty 42
69+days after the effective date of this section. 43 Substitute Bill No. 5441
6470
65-(10) One appointed by the Commissioner of Developmental Services,
66-who is a registered nurse employed by the Department of
67-Developmental Services; and
68-(11) One appointed by the Commissioner of Children and Families,
69-who is a registered nurse employed by the Department of Children and
70-Families.
71-(c) Any member of the task force appointed under subdivisions (1) to
72-(6), inclusive, of subsection (b) of this section may be a member of the
73-General Assembly.
74-(d) All initial appointments to the task force shall be made not later
75-than thirty days after the effective date of this section. Any vacancy shall
76-be filled by the appointing authority.
77-(e) The speaker of the House of Representatives and the president pro
78-tempore of the Senate shall select the chairpersons of the task force from
79-among the members of the task force. Such chairpersons shall schedule
80-the first meeting of the task force, which shall be held not later than sixty
81-days after the effective date of this section.
82-(f) The administrative staff of the joint standing committee of the
83-General Assembly having cognizance of matters relating to higher
84-education and employment advancement shall serve as administrative
85-staff of the task force.
86-(g) Not later than January 1, 2024, the task force shall submit a report
87-on its findings and recommendations to the joint standing committee of
88-the General Assembly having cognizance of matters relating to higher
89-education and employment advancement, in accordance with the
90-provisions of section 11-4a of the general statutes. The task force shall
91-terminate on the date that it submits such report or January 1, 2024,
92-whichever is later. Substitute House Bill No. 5441
9371
94-Public Act No. 23-70 4 of 9
72+LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-
73+R02-HB.docx }
74+3 of 9
9575
96-Sec. 2. Subsection (b) of section 4-124jj of the general statutes is
97-repealed and the following is substituted in lieu thereof (Effective July 1,
98-2023):
99-(b) Not later than October 1, 2022, and annually thereafter, [until
100-October 1, 2025,] the Chief Workforce Officer shall submit to the
101-Governor and, in accordance with the provisions of section 11-4a, to the
102-joint standing committees of the General Assembly having cognizance
103-of matters relating to finance, higher education and employment
104-advancement, education, commerce, and labor and public employees a
105-report regarding the workforce training programs funded through the
106-Office of Workforce Strategy account. Such report shall include, but not
107-be limited to, information on the number of individuals served,
108-demographic information about such individuals and outcomes of such
109-individuals after completion of a workforce training program.
110-Sec. 3. Section 38a-8 of the general statutes is amended by adding
111-subsection (h) as follows (Effective July 1, 2023):
112-(NEW) (h) The commissioner shall promote the development and
113-growth of, and employment opportunities within, the insurance
114-industry in the state.
115-Sec. 4. Section 10a-247 of the general statutes is repealed and the
116-following is substituted in lieu thereof (Effective January 1, 2024):
117-(a) The Connecticut Higher Education Supplemental Loan Authority
118-shall establish, subject to available funding pursuant to section 10a-247a,
119-as amended by this act, an Alliance District [Teacher] Educator and
120-Counselor Loan Subsidy Program for the purpose of subsidizing
121-interest rates on authority loans, as defined in section 10a-223, to
122-teachers, paraeducators and school counselors who are employed in a
123-district designated as an alliance district pursuant to section 10-262u and
124-who meet the eligibility criteria as established by the authority and the Substitute House Bill No. 5441
76+(f) The administrative staff of the joint standing committee of the 44
77+General Assembly having cognizance of matters relating to higher 45
78+education and employment advancement shall serve as administrative 46
79+staff of the task force. 47
80+(g) Not later than January 1, 2024, the task force shall submit a report 48
81+on its findings and recommendations to the joint standing committee of 49
82+the General Assembly having cognizance of matters relating to higher 50
83+education and employment advancement, in accordance with the 51
84+provisions of section 11-4a of the general statutes. The task force shall 52
85+terminate on the date that it submits such report or January 1, 2024, 53
86+whichever is later. 54
87+Sec. 2. (NEW) (Effective January 1, 2024, and applicable to taxable years 55
88+commencing on or after January 1, 2024) (a) As used in this section: 56
89+(1) "Clinical placement" means a clinical learning experience that 57
90+involves the provision of patient care by nursing students under the 58
91+direction and supervision of a preceptor as a required component of a 59
92+nursing education program curriculum; 60
93+(2) "Nursing student" means any student enrolled in a nursing 61
94+education program at an institution of higher education in the state to 62
95+earn a bachelor's, master's or doctorate degree; and 63
96+(3) "Preceptor" means any licensed health care provider who 64
97+provides direction and supervision to nursing students pursuant to an 65
98+agreement with an institution of higher education to provide clinical 66
99+placements. 67
100+(b) For taxable years commencing on or after January 1, 2024, any 68
101+preceptor who provides clinical placements for nursing students in the 69
102+state may be allowed, pursuant to the provisions of subsection (e) of this 70
103+section, to claim a credit against the tax imposed under chapter 229 of 71
104+the general statutes, other than the liability imposed by section 12-707 72
105+of the general statutes. Such credit shall be in the amount of one 73
106+thousand dollars for every one hundred clinical placement hours in 74 Substitute Bill No. 5441
125107
126-Public Act No. 23-70 5 of 9
127108
128-Commissioner of Education.
129-(b) The authority shall enter into a memorandum of agreement with
130-the Commissioner of Education to establish the eligibility criteria and
131-administrative guidelines for the Alliance District [Teacher] Educator
132-and Counselor Loan Subsidy Program. Such eligibility criteria and
133-guidelines shall include, but need not be limited to, (1) applicant
134-eligibility, (2) interest rate subsidies and principal limits on authority
135-loans subject to the Alliance District [Teacher] Educator and Counselor
136-Loan Subsidy Program, (3) the process for verifying the employment of
137-applicants, and (4) the requirement that an interest rate subsidy through
138-the Alliance District [Teacher] Educator and Counselor Loan Subsidy
139-Program shall terminate for any subsidy recipient who ceases to meet
140-the employment requirements of such program during the term of such
141-recipient's loan from the authority.
142-Sec. 5. Section 10a-247a of the general statutes is repealed and the
143-following is substituted in lieu thereof (Effective January 1, 2024):
144-The Connecticut Higher Education Supplemental Loan Authority
145-shall maintain a separate, nonlapsing account to hold funds for the
146-Alliance District [Teacher] Educator and Counselor Loan Subsidy
147-Program established pursuant to section 10a-247, as amended by this
148-act. The account shall contain any moneys required by law to be
149-deposited in the account, including, but not limited to, any state
150-appropriation or the proceeds from the sale of bonds issued for the
151-purpose of section 10a-247, as amended by this act. Moneys in the
152-account shall be used (1) for the purposes of the Alliance District
153-[Teacher] Educator and Counselor Loan Subsidy Program and for
154-reasonable and necessary expenses for the administration of such
155-program, (2) for the issuance of authority loans to refinance one or more
156-eligible loans, and (3) to maintain a reserve held by the authority to
157-cover any losses incurred by the authority from the issuance of such
158-authority loans. For the purposes of this section, "authority loans" and Substitute House Bill No. 5441
109+LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-
110+R02-HB.docx }
111+4 of 9
159112
160-Public Act No. 23-70 6 of 9
113+which such preceptor directed and supervised a nursing student during 75
114+the taxable year, provided (1) the preceptor provides such clinical 76
115+placement hours at no cost to the nursing student or the institution of 77
116+higher education in which such nursing student is enrolled, (2) a 78
117+preceptor claiming the credit under this section shall not claim any other 79
118+credit against the preceptor's tax liability under any provision of the 80
119+general statutes for the same one hundred clinical placement hours, (3) 81
120+the amount of credit allowed to any preceptor in any taxable year shall 82
121+not exceed four thousand dollars, (4) the credit may only be used to 83
122+reduce a preceptor's tax liability under chapter 229 of the general 84
123+statutes for the taxable year in which such preceptor provided the one 85
124+hundred clinical placement hours, and (5) only one preceptor may claim 86
125+a credit for the same one hundred clinical placement hours. 87
126+(c) The total amount of credits allowed under this section shall not 88
127+exceed one million five hundred thousand dollars in any fiscal year. 89
128+(d) (1) To be eligible to claim the credit pursuant to subsection (b) of 90
129+this section for each taxable year, a preceptor shall apply to the 91
130+Commissioner of Public Health in a form and manner prescribed by the 92
131+commissioner. Such application shall contain sufficient information as 93
132+required by the commissioner, including, but not limited to, 94
133+documentation of the clinical placement hours completed and the 95
134+agreement between the preceptor and an institution of higher education 96
135+to provide clinical placements. 97
136+(2) Upon receipt of an application, the Commissioner of Public Health 98
137+shall render a decision, in writing, on each completed application not 99
138+later than thirty days after the date of its receipt by the commissioner. If 100
139+the preceptor meets the requirements of this section and the total 101
140+amount of credits claimed in any fiscal year have not exceeded the limit 102
141+set forth in subsection (c) of this section, the commissioner shall issue a 103
142+certification letter to the preceptor indicating that the credit will be 104
143+available to be claimed by the preceptor. 105
144+Sec. 3. (Effective July 1, 2023) The executive director of the Office of 106 Substitute Bill No. 5441
161145
162-"eligible loans" have the same meaning as provided in section 10a-223.
163-Sec. 6. (NEW) (Effective January 1, 2024) (a) As used in this section:
164-(1) "Police officer" means a sworn member of a municipal police
165-department;
166-(2) "Distressed municipality" has the same meaning as provided in
167-section 32-9p of the general statutes;
168-(3) "Authority loans" has the same meaning as provided in section
169-10a-223 of the general statutes; and
170-(4) "Eligible loans" has the same meaning as provided in section 10a-
171-223 of the general statutes.
172-(b) On and after July 1, 2024, the Connecticut Higher Education
173-Supplemental Loan Authority shall establish, subject to available
174-funding pursuant to subsection (d) of this section, a Police Officer Loan
175-Subsidy Program for the purpose of subsidizing interest rates on
176-authority loans to police officers who are employed in a distressed
177-municipality and who meet the eligibility criteria as established by the
178-authority.
179-(c) The Connecticut Higher Education Supplemental Loan Authority
180-shall, in consultation with the Police Officer Standards Training Council,
181-establish the eligibility criteria and administrative guidelines for the
182-Police Officer Loan Subsidy Program. Such eligibility criteria and
183-guidelines shall include, but need not be limited to, (1) applicant
184-eligibility, (2) interest rate subsidies and principal limits on authority
185-loans subject to the Police Officer Loan Subsidy Program, (3) the process
186-for verifying the employment of applicants, and (4) the requirement that
187-an interest rate subsidy through the Police Officer Loan Subsidy
188-Program shall terminate for any subsidy recipient who ceases to meet
189-the employment requirements of such program during the term of such Substitute House Bill No. 5441
190146
191-Public Act No. 23-70 7 of 9
147+LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-
148+R02-HB.docx }
149+5 of 9
192150
193-recipient's loan from the authority.
194-(d) The Connecticut Higher Education Supplemental Loan Authority
195-shall maintain a separate, nonlapsing account to hold funds for the
196-Police Officer Loan Subsidy Program. The account shall contain any
197-moneys required by law to be deposited in the account, including, but
198-not limited to, any state appropriation or the proceeds from the sale of
199-bonds issued for the purpose of the program. Moneys in the account
200-shall be used (1) for the purposes of the Police Officer Loan Subsidy
201-Program and for reasonable and necessary expenses for the
202-administration of such program, (2) for the issuance of authority loans
203-to refinance one or more eligible loans, and (3) to maintain a reserve held
204-by the authority to cover any losses incurred by the authority from the
205-issuance of such authority loans.
206-Sec. 7. Section 1 of public act 23-60 is repealed and the following is
207-substituted in lieu thereof (Effective July 1, 2023):
208-(a) For the purposes of this section, "authority loans" and "eligible
209-loans" have the same meanings as provided in section 10a-223 of the
210-general statutes.
211-(b) The Connecticut Higher Education Supplemental Loan Authority
212-shall establish, subject to available funding in the account established
213-and maintained pursuant to section 2 of [this act] public act 23-60 a
214-Nursing, [and] Mental Health Care and Emergency Medical Service
215-Professionals Loan Subsidy Program for the purpose of subsidizing
216-interest rates on authority loans issued to refinance eligible loans for
217-health care professionals who (1) are actively employed in a clinical or
218-an emergency medical service setting, (2) are (A) licensed pursuant to
219-chapter 378, 378a, 383, 383a, 383b or 383c of the general statutes, or (B)
220-certified as an emergency medical responder or emergency medical
221-technician under the provisions of section 20-206ll or 20-206mm of the
222-general statutes or as an advanced emergency medical technician by the Substitute House Bill No. 5441
151+Higher Education, the Labor Commissioner and the Commissioner of 107
152+Education shall jointly develop a plan to establish a program for 108
153+registered apprenticeships for teachers in which students in education 109
154+preparation programs may be employed by a school district as an 110
155+apprentice teacher's aide while completing coursework and 111
156+apprenticeship hours in not more than three years. Such plan shall 112
157+include, but need not be limited to, (1) the development, in consultation 113
158+with educator preparation program administrators at institutions of 114
159+higher education in the state, of a framework for a program in which 115
160+students may earn a bachelor's degree and be eligible for teacher 116
161+certification by completing a requisite number of apprenticeship hours 117
162+and related coursework in three years, (2) an assessment, in consultation 118
163+with local and regional boards of education, of the capability and 119
164+interest within school districts to establish and provide such 120
165+apprenticeship programs in partnership with institutions of higher 121
166+education, (3) an assessment of supports that may be provided by state 122
167+agencies to aid local and regional boards of education and institutions 123
168+of higher education in establishing such apprenticeship programs, and 124
169+(4) a fiscal analysis of the costs and benefits of establishing such 125
170+apprenticeship programs, including, but not limited to, the feasibility of 126
171+providing state grants to local and regional boards of education to offset 127
172+the initial costs of developing and registering an apprenticeship 128
173+program. Not later than January 1, 2024, the executive director of the 129
174+Office of Higher Education shall submit, in accordance with the 130
175+provisions of section 11-4a of the general statutes, to the joint standing 131
176+committees of the General Assembly having cognizance of matters 132
177+relating to higher education and employment advancement and 133
178+education the plan developed pursuant to this section and any 134
179+recommendations for legislation necessary for the implementation of 135
180+such plan. 136
181+Sec. 4. Subsection (b) of section 4-124jj of the general statutes is 137
182+repealed and the following is substituted in lieu thereof (Effective July 1, 138
183+2023): 139 Substitute Bill No. 5441
223184
224-Public Act No. 23-70 8 of 9
225185
226-Department of Public Health, and (3) meet the eligibility criteria
227-established pursuant to subsection (c) of this section.
228-(c) The Connecticut Higher Education Supplemental Loan Authority
229-shall enter into a memorandum of agreement with the Commissioner of
230-Education to establish eligibility criteria and administrative guidelines
231-for the program established pursuant to subsection (b) of this section.
232-Such eligibility criteria and guidelines shall include, but need not be
233-limited to, (1) applicant eligibility criteria, (2) interest rate subsidies and
234-principal limits on authority loans offered under the program, (3) a
235-process for verifying that applicants are actively employed in a clinical
236-or an emergency medical service setting, and (4) a requirement that an
237-interest rate subsidy on an authority loan issued under the program be
238-terminated if the subsidy recipient fails to meet the requirements of the
239-program at any time during the term of such loan.
240-Sec. 8. Section 2 of public act 23-60 is repealed and the following is
241-substituted in lieu thereof (Effective July 1, 2023):
242-The Connecticut Higher Education Supplemental Loan Authority
243-shall establish and maintain a separate, nonlapsing account to hold
244-funds for the Nursing, [and] Mental Health Care and Emergency
245-Medical Service Professionals Loan Subsidy Program established
246-pursuant to section 1 of [this act] public act 23-60. The account shall
247-contain any moneys required by law to be deposited in the account,
248-including, but not limited to, any state appropriation and the proceeds
249-from the sale of any bonds issued for the purpose of section 1 of [this
250-act] public act 23-60. Moneys in the account shall be expended by the
251-Connecticut Higher Education Supplemental Loan Authority (1) for the
252-purposes of the Nursing, [and] Mental Health Care and Emergency
253-Medical Service Professionals Loan Subsidy Program established
254-pursuant to section 1 of [this act] public act 23-60 including, but not
255-limited to, for reasonable expenses necessary to administer said
256-program, (2) to issue authority loans under said program to refinance Substitute House Bill No. 5441
186+LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-
187+R02-HB.docx }
188+6 of 9
257189
258-Public Act No. 23-70 9 of 9
190+(b) Not later than October 1, 2022, and annually thereafter, [until 140
191+October 1, 2025,] the Chief Workforce Officer shall submit to the 141
192+Governor and, in accordance with the provisions of section 11-4a, to the 142
193+joint standing committees of the General Assembly having cognizance 143
194+of matters relating to finance, higher education and employment 144
195+advancement, education, commerce, and labor and public employees a 145
196+report regarding the workforce training programs funded through the 146
197+Office of Workforce Strategy account. Such report shall include, but not 147
198+be limited to, information on the number of individuals served, 148
199+demographic information about such individuals and outcomes of such 149
200+individuals after completion of a workforce training program. 150
201+Sec. 5. Section 38a-8 of the general statutes is amended by adding 151
202+subsection (h) as follows (Effective July 1, 2023): 152
203+(NEW) (h) The commissioner shall promote the development and 153
204+growth of, and employment opportunities within, the insurance 154
205+industry in the state. 155
206+Sec. 6. (NEW) (Effective July 1, 2023) (a) As used in this section: 156
207+(1) "Authority loans" has the same meaning as provided in section 157
208+10a-223 of the general statutes; and 158
209+(2) "High-demand professions" means a (A) registered nurse, (B) 159
210+licensed practical nurse, (C) home health aide, (D) provider of programs 160
211+or services for individuals with intellectual or developmental 161
212+disabilities who is employed by a state agency or nonprofit 162
213+organization, and (E) child care provider employed by a child care 163
214+center, group child care home or family child care home. 164
215+(b) The Connecticut Higher Education Supplemental Loan Authority 165
216+shall establish, subject to available funding pursuant to section 8 of this 166
217+act, a Student Loan Subsidy Program for the purpose of subsidizing 167
218+interest rates on authority loans to individuals employed in high-168
219+demand professions and who meet the eligibility criteria established by 169
220+the authority pursuant to subsection (c) of this section. 170 Substitute Bill No. 5441
259221
260-one or more eligible loans, and (3) to maintain a reserve, held by the
261-authority, to cover any losses incurred by the authority in issuing
262-authority loans under said program. For the purposes of this section,
263-"authority loans" and "eligible loans" have the same meanings as
264-provided in section 10a-223 of the general statutes.
222+
223+LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-
224+R02-HB.docx }
225+7 of 9
226+
227+(c) The authority shall establish the eligibility criteria and 171
228+administrative guidelines for the Student Loan Subsidy Program. Such 172
229+eligibility criteria and guidelines shall include, but need not be limited 173
230+to, (1) applicant eligibility, (2) interest rate subsidies and principal limits 174
231+on authority loans subject to the Student Loan Subsidy Program, (3) the 175
232+process for verifying the employment of the applicants, and (4) the 176
233+requirement that an interest rate subsidy through the Student Loan 177
234+Subsidy Program shall terminate for any subsidy recipient who ceases 178
235+to meet the employment requirements of such program during the term 179
236+of such recipient's loan from the authority. 180
237+Sec. 7. (NEW) (Effective July 1, 2023) The Connecticut Higher 181
238+Education Supplemental Loan Authority shall maintain a separate, 182
239+nonlapsing account to hold funds for the Student Loan Subsidy 183
240+Program established pursuant to section 7 of this act. The account shall 184
241+contain any moneys required by law to be deposited in the account, 185
242+including, but not limited to, state appropriations or proceeds from the 186
243+sale of bonds authorized under section 9 of this act. Moneys in the 187
244+account shall be expended by the authority for the purposes of the 188
245+Student Loan Subsidy Program and for reasonable and necessary 189
246+expenses for the administration of such program. 190
247+Sec. 8. (NEW) (Effective July 1, 2023) (a) For the purposes described in 191
248+subsection (b) of this section and section 7 of this act, the State Bond 192
249+Commission shall have the power from time to time to authorize the 193
250+issuance of bonds of the state in one or more series and in principal 194
251+amounts not exceeding seven million dollars annually. 195
252+(b) The proceeds of the sale of such bonds, to the extent of the amount 196
253+stated in subsection (a) of this section, shall be used by the Connecticut 197
254+Higher Education Supplemental Loan Authority for the purpose of the 198
255+Student Loan Subsidy Program established under section 7 of this act. 199
256+(c) All provisions of section 3-20 of the general statutes, or the exercise 200
257+of any right or power granted thereby, that are not inconsistent with the 201
258+provisions of this section are hereby adopted and shall apply to all 202 Substitute Bill No. 5441
259+
260+
261+LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-
262+R02-HB.docx }
263+8 of 9
264+
265+bonds authorized by the State Bond Commission pursuant to this 203
266+section. Temporary notes in anticipation of the money to be derived 204
267+from the sale of any such bonds so authorized may be issued in 205
268+accordance with section 3-20 of the general statutes and from time to 206
269+time renewed. Such bonds shall mature at such time or times not 207
270+exceeding twenty years from their respective dates as may be provided 208
271+in or pursuant to the resolution or resolutions of the State Bond 209
272+Commission authorizing such bonds. None of such bonds shall be 210
273+authorized except upon a finding by the State Bond Commission that 211
274+there has been filed with it a request for such authorization that is signed 212
275+by or on behalf of the Secretary of the Office of Policy and Management 213
276+and states such terms and conditions as said commission, in its 214
277+discretion, may require. Such bonds issued pursuant to this section shall 215
278+be general obligations of the state and the full faith and credit of the state 216
279+of Connecticut are pledged for the payment of the principal of and 217
280+interest on such bonds as the same become due, and accordingly and as 218
281+part of the contract of the state with the holders of such bonds, 219
282+appropriation of all amounts necessary for punctual payment of such 220
283+principal and interest is hereby made, and the State Treasurer shall pay 221
284+such principal and interest as the same become due. 222
285+This act shall take effect as follows and shall amend the following
286+sections:
287+
288+Section 1 from passage New section
289+Sec. 2 January 1, 2024, and
290+applicable to taxable years
291+commencing on or after
292+January 1, 2024
293+New section
294+Sec. 3 July 1, 2023 New section
295+Sec. 4 July 1, 2023 4-124jj(b)
296+Sec. 5 July 1, 2023 38a-8(h)
297+Sec. 6 July 1, 2023 New section
298+Sec. 7 July 1, 2023 New section
299+Sec. 8 July 1, 2023 New section
300+ Substitute Bill No. 5441
301+
302+
303+LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2023HB-05441-
304+R02-HB.docx }
305+9 of 9
306+
307+Statement of Legislative Commissioners:
308+In Section 1(a), in the first and second sentences "working group" was
309+changed to "task force" for internal consistency.
310+
311+HED Joint Favorable Subst. -LCO
265312