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General Assembly Bill No. 501
June Special Session, 2024
LCO No. 6185
Referred to Committee on No Committee
Introduced by:
SEN. LOONEY, 11
th
Dist.
REP. RITTER M., 1
st
Dist.
SEN. DUFF, 25
th
Dist.
REP. ROJAS, 9
th
Dist.
AN ACT CONCERNING MOTOR VEHICLE ASSESSMENTS FOR
PROPERTY TAXATION, INNOVATION BANKS, THE INTEREST ON
CERTAIN TAX UNDERPAYMENTS, THE ASSESSMENT ON
INSURERS, SCHOOL BUILDING PROJECTS, THE SOUTH CENTRAL
CONNECTICUT REGIONAL WATER AUTHORITY CHARTER AND
CERTAIN STATE HISTORIC PRESERVATION OFFICER
PROCEDURES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. Subdivision (2) of subsection (a) of section 14-33 of the 2024 1
supplement to the general statutes is repealed and the following is 2
substituted in lieu thereof (Effective July 1, 2024, and applicable to 3
assessment years commencing on or after October 1, 2024): 4
(2) For assessment years commencing on or after October 1, 2024, if 5
any property tax, or any installment thereof, laid by any city, town, 6
borough or other taxing district upon a motor vehicle remains unpaid, 7
[regardless of whether such motor vehicle is classified on the grand list 8
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as a registered motor vehicle or personal property pursuant to section 9
12-41,] the tax collector of such city, town, borough or other taxing 10
district shall notify the Commissioner of Motor Vehicles of such 11
delinquency in accordance with subsection (e) of this section and 12
guidelines and procedures established by the commissioner. The 13
commissioner shall not issue registration for such motor vehicle for the 14
next registration period if, according to the commissioner's records, it is 15
then owned by the person against whom such tax has been assessed or 16
by any person to whom such vehicle has not been transferred by bona 17
fide sale. Unless notice has been received by the commissioner under 18
the provisions of section 14-33a, no such registration shall be issued 19
until the commissioner receives notification that the tax obligation has 20
been legally discharged; nor shall the commissioner register any other 21
motor vehicle, snowmobile, all-terrain vehicle or vessel in the name of 22
such person, except that the commissioner may continue to register 23
other vehicles owned by a leasing or rental firm licensed pursuant to 24
section 14-15, and may issue such registration to any private owner of 25
three or more paratransit vehicles in direct proportion to the percentage 26
of total tax due on such vehicles which has been paid and notice of 27
payment on which has been received. The Commissioner of Motor 28
Vehicles may immediately suspend or cancel all motor vehicle, 29
snowmobile, all-terrain vehicle or vessel registrations issued in the 30
name of any person (A) who has been reported as delinquent and whose 31
registration was renewed through an error or through the production of 32
false evidence that the delinquent tax on any motor vehicle had been 33
paid, or (B) who has been reported by a tax collector as having paid a 34
property tax on a motor vehicle with a check which was dishonored by 35
a bank and such tax remains unpaid. 36
Sec. 2. Subsection (b) of section 12-71d of the 2024 supplement to the 37
general statutes is repealed and the following is substituted in lieu 38
thereof (Effective July 1, 2024, and applicable to assessment years commencing 39
on or after October 1, 2024): 40
(b) Not later than October 1, 2024, and annually thereafter, the 41
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Secretary of the Office of Policy and Management shall, in consultation 42
with the [Connecticut Association of Assessing Officers, recommend a 43
schedule of motor vehicle plate classes] Department of Motor Vehicles, 44
establish guidelines for the valuation of motor vehicles, which shall be 45
used by assessors in each municipality in determining the 46
[classification] use of motor vehicles for purposes of property taxation. 47
The value for each motor vehicle shall be determined by the schedule of 48
depreciation described in subdivision (7) of subsection (b) of section 12-49
63, as amended by this act. The determination of the assessed value of 50
any vehicle for which a manufacturer's suggested retail price cannot be 51
obtained for purposes of the property tax assessment list in any 52
municipality shall be the responsibility of the assessor in such 53
municipality, in consultation with the Connecticut Association of 54
Assessing Officers. Any appeal from the findings of assessors 55
concerning motor vehicle values shall be made in accordance with 56
provisions related to such appeals under this chapter. 57
Sec. 3. Subsection (b) of section 12-63 of the 2024 supplement to the 58
general statutes is repealed and the following is substituted in lieu 59
thereof (Effective July 1, 2024, and applicable to assessment years commencing 60
on or after October 1, 2024): 61
(b) (1) For the purposes of this subsection, (A) "electronic data 62
processing equipment" means computers, printers, peripheral computer 63
equipment, bundled software and any computer-based equipment 64
acting as a computer, as defined in Section 168 of the Internal Revenue 65
Code of 1986, or any subsequent corresponding internal revenue code 66
of the United States, as from time to time amended; (B) "leased personal 67
property" means tangible personal property which is the subject of a 68
written or oral lease or loan on the assessment date, or any such 69
property which has been so leased or loaned by the then current owner 70
of such property for three or more of the twelve months preceding such 71
assessment date; and (C) "original selling price" means the price at 72
which tangible personal property is most frequently sold in the year that 73
it was manufactured. 74
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(2) Any municipality may, by ordinance, adopt the provisions of this 75
subsection to be applicable for the assessment year commencing 76
October first of the assessment year in which a revaluation of all real 77
property required pursuant to section 12-62 is performed in such 78
municipality, and for each assessment year thereafter. If so adopted, the 79
present true and actual value of tangible personal property, other than 80
motor vehicles, shall be determined in accordance with the provisions 81
of this subsection. If such property is purchased, its true and actual 82
value shall be established in relation to the cost of its acquisition, 83
including transportation and installation, and shall reflect depreciation 84
in accordance with the schedules set forth in subdivisions (3) to (6), 85
inclusive, of this subsection. If such property is developed and produced 86
by the owner of such property for a purpose other than wholesale or 87
retail sale or lease, its true and actual value shall be established in 88
relation to its cost of development, production and installation and shall 89
reflect depreciation in accordance with the schedules provided in 90
subdivisions (3) to (6), inclusive, of this subsection. The provisions of 91
this subsection shall not apply to property owned by a public service 92
company, as defined in section 16-1. 93
(3) The following schedule of depreciation shall be applicable with 94
respect to electronic data processing equipment: 95
(A) Group I: Computer and peripheral hardware, including, but not 96
limited to, personal computers, workstations, terminals, storage 97
devices, printers, scanners, computer peripherals and networking 98
equipment: 99
T1 Depreciated Value
T2 As Percentage
T3 Assessment Year Of Acquisition
T4 Following Acquisition Cost Basis
T5 First year Seventy per cent
T6 Second year Forty per cent
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T7 Third year Twenty per cent
T8 Fourth year and thereafter Ten per cent
(B) Group II: Other hardware, including, but not limited to, mini-100
frame and main-frame systems with an acquisition cost of more than 101
twenty-five thousand dollars: 102
T9 Depreciated Value
T10 As Percentage
T11 Assessment Year Of Acquisition
T12 Following Acquisition Cost Basis
T13 First year Ninety per cent
T14 Second year Sixty per cent
T15 Third year Forty per cent
T16 Fourth year Twenty per cent
T17 Fifth year and thereafter Ten per cent
(4) The following schedule of depreciation shall be applicable with 103
respect to copiers, facsimile machines, medical testing equipment, and 104
any similar type of equipment that is not specifically defined as 105
electronic data processing equipment, but is considered by the assessor 106
to be technologically advanced: 107
T18 Depreciated Value
T19 As Percentage
T20 Assessment Year Of Acquisition
T21 Following Acquisition Cost Basis
T22 First year Ninety-five per cent
T23 Second year Eighty per cent
T24 Third year Sixty per cent
T25 Fourth year Forty per cent
T26 Fifth year and thereafter Twenty per cent
(5) The following schedule of depreciation shall be applicable with 108
respect to machinery and equipment used in the manufacturing process: 109
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T27 Depreciated Value
T28 As Percentage
T29 Assessment Year Of Acquisition
T30 Following Acquisition Cost Basis
T31 First year Ninety per cent
T32 Second year Eighty per cent
T33 Third year Seventy per cent
T34 Fourth year Sixty per cent
T35 Fifth year Fifty per cent
T36 Sixth year Forty per cent
T37 Seventh year Thirty per cent
T38 Eighth year and thereafter Twenty per cent
(6) The following schedule of depreciation shall be applicable with 110
respect to all tangible personal property other than that described in 111
subdivisions (3) to (5), inclusive, and subdivision (7) of this subsection: 112
T39 Depreciated Value
T40 As Percentage
T41 Assessment Year Of Acquisition
T42 Following Acquisition Cost Basis
T43 First year Ninety-five per cent
T44 Second year Ninety per cent
T45 Third year Eighty per cent
T46 Fourth year Seventy per cent
T47 Fifth year Sixty per cent
T48 Sixth year Fifty per cent
T49 Seventh year Forty per cent
T50 Eighth year and thereafter Thirty per cent
(7) For assessment years commencing on or after October 1, 2024, the 113
following schedule of depreciation shall be applicable with respect to 114
motor vehicles based on the manufacturer's suggested retail price of 115
such motor vehicles, provided no motor vehicle shall be [valued] 116
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assessed at an amount less than five hundred dollars: 117
T51 Percentage of
T52 Manufacturer's Suggested
T53 Age of Vehicle Retail Price
T54 Up to year one [Eighty] Eighty-five per cent
T55 Year two [Seventy-five] Eighty per cent
T56 Year three [Seventy] Seventy-five per cent
T57 Year four [Sixty-five] Seventy per cent
T58 Year five [Sixty] Sixty-five per cent
T59 Year six [Fifty-five] Sixty per cent
T60 Year seven [Fifty] Fifty-five per cent
T61 Year eight [Forty-five] Fifty per cent
T62 Year nine [Forty] Forty-five per cent
T63 Year ten [Thirty-five] Forty per cent
T64 Year eleven [Thirty] Thirty-five per cent
T65 Year twelve [Twenty-five] Thirty per cent
T66 Year thirteen [Twenty] Twenty-five per cent
T67 Year fourteen [Fifteen] Twenty per cent
T68 Years fifteen to nineteen [Ten] Fifteen per cent
T69 Years twenty and beyond Not less than
T70 five hundred dollars
(8) The present true and actual value of leased personal property 118
other than motor vehicles shall be determined in accordance with the 119
provisions of this subdivision. Such value for any assessment year shall 120
be established in relation to the original selling price for self-121
manufactured property or acquisition cost for acquired property and 122
shall reflect depreciation in accordance with the schedules provided in 123
subdivisions (3) to (6), inclusive, of this subsection. If the assessor is 124
unable to determine the original selling price of leased personal 125
property other than a motor vehicle, the present true and actual value 126
thereof shall be its current selling price. 127
(9) With respect to any personal property which is prohibited by law 128
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from being sold, the present true and actual value of such property shall 129
be established with respect to such property's original manufactured 130
cost increased by a ratio the numerator of which is the total proceeds 131
from the manufacturer's salable equipment sold and the denominator of 132
which is the total cost of the manufacturer's salable equipment sold. 133
Such value shall then be depreciated in accordance with the appropriate 134
schedule in this subsection. 135
(10) The schedules of depreciation set forth in subdivisions (3) to (6), 136
inclusive, of this subsection shall not be used with respect to motor 137
vehicles, videotapes, horses or other taxable livestock or electric 138
cogenerating equipment. 139
(11) If the assessor determines that the value of any item of personal 140
property, other than a motor vehicle valued pursuant to subdivision (7) 141
of this subsection, produced by the application of the schedules set forth 142
in this subsection does not accurately reflect the present true and actual 143
value of such item, the assessor shall adjust such value to reflect the 144
present true and actual value of such item. 145
(12) For assessment years commencing on or after October 1, 2024, for 146
any commercial motor vehicle (A) that is modified, or (B) to which is 147
affixed an attachment designed, manufactured or modified to be affixed 148
to such motor vehicle, the assessor shall determine whether to value 149
such motor vehicle and any such modifications or attachments to such 150
motor vehicle pursuant to subdivision (7) of this subsection or section 151
12-41, as amended by this act. The assessor shall determine valuation of 152
any modifications or attachments to such motor vehicle based on 153
whether such modifications or attachments are intended to be 154
permanently affixed to such motor vehicle. 155
[(12)] (13) Nothing in this subsection shall prevent any taxpayer from 156
appealing any (A) assessment made pursuant to this subsection if such 157
assessment does not accurately reflect the present true and actual value 158
of any item of such taxpayer's personal property, or (B) determination 159
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of the manufacturer's suggested retail price used to value a motor 160
vehicle pursuant to this subsection. 161
Sec. 4. Subsections (b) and (c) of section 12-41 of the 2024 supplement 162
to the general statutes are repealed and the following is substituted in 163
lieu thereof (Effective July 1, 2024, and applicable to assessment years 164
commencing on or after October 1, 2024): 165
(b) [(1) For assessment years commencing prior to October 1, 2024, 166
no] No person required by law to file an annual declaration of personal 167
property shall include in such declaration motor vehicles that are 168
registered [in the office of the state Commissioner] with the Department 169
of Motor Vehicles. With respect to any vehicle subject to taxation in a 170
town other than the town in which such vehicle is registered, pursuant 171
to section 12-71, as amended by this act, information concerning such 172
vehicle may be included in a declaration filed pursuant to this section or 173
section 12-43, or on a report filed pursuant to section 12-57a. 174
[(2) For assessment years commencing on or after October 1, 2024, 175
any person required to file an annual declaration of tangible personal 176
property shall include in such declaration the motor vehicle listing, 177
pursuant to subdivision (2) of subsection (f) of section 12-71, of any 178
motor vehicle owned by such person. If, after the annual deadline for 179
filing a declaration, a motor vehicle is deemed personal property by the 180
assessor, such motor vehicle shall be added to the declaration of the 181
owner of such vehicle or included on a new declaration if no declaration 182
was submitted in the prior year. The value of the motor vehicle shall be 183
determined pursuant to section 12-63. If applicable, the value of the 184
motor vehicle for the current assessment year shall be prorated pursuant 185
to section 12-71b, and shall not be considered omitted property, as 186
defined in section 12-53, or subject to a penalty pursuant to subsection 187
(f) of this section.] 188
(c) The annual declaration of the tangible personal property owned 189
by such person on the assessment date, shall include, but is not limited 190
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to, the following property: Machinery used in mills and factories, cables, 191
wires, poles, underground mains, conduits, pipes and other fixtures of 192
water, gas, electric and heating companies, leasehold improvements 193
classified as other than real property and furniture and fixtures of stores, 194
offices, hotels, restaurants, taverns, halls, factories and manufacturers. 195
Tangible personal property does not include a sign placed on a property 196
indicating that the property is for sale or lease. On and after October 1, 197
2024, tangible personal property shall include nonpermanent 198
modifications and attachments to commercial motor vehicles. [listed on 199
the schedule of motor vehicle plate classes recommended pursuant to 200
section 12-71d.] Commercial or financial information in any declaration 201
filed under this section [, except for commercial or financial information 202
which concerns motor vehicles,] shall not be open for public inspection 203
but may be disclosed to municipal officers for tax collection purposes. 204
Sec. 5. Subsection (a) of section 12-53 of the 2024 supplement to the 205
general statutes is repealed and the following is substituted in lieu 206
thereof (Effective July 1, 2024, and applicable to assessment years commencing 207
on or after October 1, 2024): 208
(a) For purposes of this section: 209
(1) "Omitted property" means property for which complete 210
information is not included in the declaration required to be filed by law 211
with respect to (A) the total number and type of all items subject to 212
taxation, or (B) the true original cost and year acquired of all such items; 213
[, or (C) on or after October 1, 2024, the manufacturer's suggested retail 214
price of a motor vehicle plus any applicable after-market alterations to 215
such motor vehicle,] 216
(2) ["books"] "Books", "papers", "documents" and "other records" 217
includes, but is not limited to, federal tax forms relating to the 218
acquisition and cost of fixed assets, general ledgers, balance sheets, 219
disbursement ledgers, fixed asset and depreciation schedules, financial 220
statements, invoices, operating expense reports, capital and operating 221
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leases, conditional sales agreements and building or leasehold ledgers; 222
[,] and 223
(3) ["designee of an assessor"] "Designee of an assessor" means a 224
Connecticut municipal assessor certified in accordance with subsection 225
(b) of section 12-40a, a certified public accountant, a revaluation 226
company certified in accordance with section 12-2c for the valuation of 227
personal property, or an individual certified as a revaluation company 228
employee in accordance with section 12-2b for the valuation of personal 229
property. 230
Sec. 6. Subdivision (2) of subsection (a) of section 12-71 of the 2024 231
supplement to the general statutes is repealed and the following is 232
substituted in lieu thereof (Effective July 1, 2024, and applicable to 233
assessment years commencing on or after October 1, 2024): 234
(2) For assessment years commencing on or after October 1, 2024, 235
goods, chattels and effects or any interest therein, including any interest 236
in a leasehold improvement classified as other than real property, 237
belonging to any person who is a resident in this state, shall be listed for 238
purposes of property tax in the town where such person resides, subject 239
to the provisions of sections 12-41, as amended by this act, 12-43 and 12-240
59. Any such property belonging to any nonresident shall be listed for 241
purposes of property tax as provided in section 12-43. Motor vehicles 242
shall be listed for purposes of the property tax as provided in subsection 243
(f) of this section. 244
Sec. 7. Subdivision (2) of subsection (f) of section 12-71 of the 2024 245
supplement to the general statutes is repealed and the following is 246
substituted in lieu thereof (Effective July 1, 2024, and applicable to 247
assessment years commencing on or after October 1, 2024): 248
[(2) (A) For assessment years commencing on or after October 1, 2024, 249
each municipality shall list motor vehicles registered and classified in 250
accordance with section 12-71d, and such motor vehicles shall be valued 251
in the same manner as motor vehicles valued pursuant to section 12-63.] 252
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[(B)] (2) For assessment years commencing on or after October 1, 2024, 253
any unregistered motor vehicle or motor vehicle that is not used or 254
capable of being used that is located in a municipality in this state, shall 255
be listed and valued in the [manner described in subparagraph (A) of 256
this subdivision] same manner as motor vehicles valued pursuant to 257
section 12-63, as amended by this act. 258
Sec. 8. Section 12-71b of the 2024 supplement to the general statutes 259
is repealed and the following is substituted in lieu thereof (Effective July 260
1, 2024, and applicable to assessment years commencing on or after October 1, 261
2024): 262
(a) (1) For assessment years commencing prior to October 1, 2024, any 263
person who owns a motor vehicle which is not registered with the 264
Commissioner of Motor Vehicles on the first day of October in any 265
assessment year and which is registered subsequent to said first day of 266
October but prior to the first day of August in such assessment year shall 267
be liable for the payment of property tax with respect to such motor 268
vehicle in the town where such motor vehicle is subject to property tax, 269
in an amount as hereinafter provided, on the first day of January 270
immediately subsequent to the end of such assessment year. The 271
property tax payable with respect to such motor vehicle on said first day 272
of January shall be in the amount which would be payable if such motor 273
vehicle had been entered in the taxable list of the town where such 274
motor vehicle is subject to property tax on the first day of October in 275
such assessment year if such registration occurs prior to the first day of 276
November. If such registration occurs on or after the first day of 277
November but prior to the first day of August in such assessment year, 278
such tax shall be a pro rata portion of the amount of tax payable if such 279
motor vehicle had been entered in the taxable list of such town on 280
October first in such assessment year to be determined (A) by a ratio, 281
the numerator of which shall be the number of months from the date of 282
such registration, including the month in which registration occurs, to 283
the first day of October next succeeding and the denominator of which 284
shall be twelve, or (B) upon the affirmative vote of the legislative body 285
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of the municipality, by a ratio the numerator of which shall be the 286
number of days from the date of such registration, including the day on 287
which the registration occurs, to the first day of October next succeeding 288
and the denominator of which shall be three hundred sixty-five. For 289
purposes of this section the term "assessment year" means the period of 290
twelve full months commencing with October first each year. 291
(2) For assessment years commencing on or after October 1, 2024, any 292
[person who owns a] motor vehicle [which] that is not registered with 293
the Commissioner of Motor Vehicles on the first day of October in any 294
assessment year and [which] that is registered subsequent to said first 295
day of October but prior to the [first day of April] last day of September 296
in such assessment year shall be added to the grand list by the assessor, 297
and the owner of such motor vehicle shall be liable for the payment of 298
property tax with respect to such motor vehicle in the town where such 299
motor vehicle is subject to property tax, in an amount as hereinafter 300
provided. [, on the first day of July in such assessment year. Any person 301
who owns a motor vehicle which is registered with the Commissioner 302
of Motor Vehicles on or after the first day of April in any assessment 303
year but prior to the first day of October next succeeding shall be liable 304
for the payment of property tax with respect to such motor vehicle in 305
the town where such motor vehicle is subject to property tax, in an 306
amount hereinafter provided, on the first day of January immediately 307
subsequent to the end of such assessment year.] The property tax 308
payable with respect to a motor vehicle described in this subdivision 309
shall be in the amount [which] that would be payable if such motor 310
vehicle had been entered into the taxable list of the town where such 311
motor vehicle is subject to property tax on the first day of October in 312
such assessment year if such registration occurs prior to the first day of 313
November. If such registration occurs on or after the first day of 314
November but prior to the first day of October next succeeding, such tax 315
shall be a pro rata portion of the amount of tax payable if such motor 316
vehicle had been entered in the taxable list of such town on October first 317
in such assessment year to be determined (A) by a ratio, the numerator 318
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of which shall be the number of months from the date of such 319
registration, including the month in which registration occurs, to the 320
first day of October next succeeding and the denominator of which shall 321
be twelve, or (B) upon the affirmative vote of the legislative body of the 322
municipality, by a ratio the numerator of which shall be the number of 323
days from the date of such registration, including the day on which the 324
registration occurs, to the first day of October next succeeding and the 325
denominator of which shall be three hundred sixty-five. 326
(b) (1) For assessment years commencing prior to October 1, 2024, 327
whenever any person who owns a motor vehicle which has been entered 328
in the taxable list of the town where such motor vehicle is subject to 329
property tax in any assessment year and who, subsequent to the first 330
day of October in such assessment year but prior to the first day of 331
August in such assessment year, replaces such motor vehicle with 332
another motor vehicle, hereinafter referred to as the replacement 333
vehicle, which vehicle may be in a different classification for purposes 334
of registration than the motor vehicle replaced, and provided one of the 335
following conditions is applicable with respect to the motor vehicle 336
replaced: (A) The unexpired registration of the motor vehicle replaced 337
is transferred to the replacement vehicle, (B) the motor vehicle replaced 338
was stolen or totally damaged and proof concerning such theft or total 339
damage is submitted to the assessor in such town, or (C) the motor 340
vehicle replaced is sold by such person within forty-five days 341
immediately prior to or following the date on which such person 342
acquires the replacement vehicle, such person shall be liable for the 343
payment of property tax with respect to the replacement vehicle in the 344
town in which the motor vehicle replaced is subject to property tax, in 345
an amount as hereinafter provided, on the first day of January 346
immediately subsequent to the end of such assessment year. If the 347
replacement vehicle is replaced by such person with another motor 348
vehicle prior to the first day of August in such assessment year, the 349
replacement vehicle shall be subject to property tax as provided in this 350
subsection and such other motor vehicle replacing the replacement 351
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vehicle, or any motor vehicle replacing such other motor vehicle in such 352
assessment year, shall be deemed to be the replacement vehicle for 353
purposes of this subsection and shall be subject to property tax as 354
provided herein. The property tax payable with respect to the 355
replacement vehicle on said first day of January shall be the amount by 356
which (i) is in excess of (ii) as follows: (i) The property tax which would 357
be payable if the replacement vehicle had been entered in the taxable list 358
of the town in which the motor vehicle replaced is subject to property 359
tax on the first day of October in such assessment year if such 360
registration occurs prior to the first day of November, however if such 361
registration occurs on or after the first day of November but prior to the 362
first day of August in such assessment year, such tax shall be a pro rata 363
portion of the amount of tax payable if such motor vehicle had been 364
entered in the taxable list of such town on October first in such 365
assessment year to be determined by a ratio, the numerator of which 366
shall be the number of months from the date of such registration, 367
including the month in which registration occurs, to the first day of 368
October next succeeding and the denominator of which shall be twelve, 369
provided if such person, on said first day of October, was entitled to any 370
exemption under section 12-81, as amended by this act, which was 371
allowed in the assessment of the motor vehicle replaced, such 372
exemption shall be allowed for purposes of determining the property 373
tax payable with respect to the replacement vehicle as provided herein; 374
(ii) the property tax payable by such person with respect to the motor 375
vehicle replaced, provided if the replacement vehicle is registered 376
subsequent to the thirty-first day of October but prior to the first day of 377
August in such assessment year such property tax payable with respect 378
to the motor vehicle replaced shall, for purposes of the computation 379
herein, be deemed to be a pro rata portion of such property tax to be 380
prorated in the same manner as the amount of tax determined under (i) 381
above. 382
(2) For assessment years commencing on or after October 1, 2024, 383
whenever any person who owns a motor vehicle which has been entered 384
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in the taxable list of the town where such motor vehicle is subject to 385
property tax in any assessment year and who, subsequent to the first 386
day of October in such assessment year but prior to the [first day of 387
April] last day of September in such assessment year, replaces such 388
motor vehicle with another motor vehicle, hereinafter referred to as the 389
replacement vehicle, which vehicle may be in a different classification 390
for purposes of registration than the motor vehicle replaced, and 391
provided one of the following conditions is applicable with respect to 392
the motor vehicle replaced: (A) The unexpired registration of the motor 393
vehicle replaced is transferred to the replacement vehicle, (B) the motor 394
vehicle replaced was stolen or totally damaged and proof concerning 395
such theft or total damage is submitted to the assessor in such town, or 396
(C) the motor vehicle replaced is sold by such person within forty-five 397
days immediately prior to or following the date on which such person 398
acquires the replacement vehicle, such motor vehicle shall be added by 399
the assessor to the taxable grand list and such person shall be liable for 400
the payment of property tax with respect to the replacement vehicle in 401
the town in which the motor vehicle replaced is subject to property tax 402
pursuant to subdivision [(4)] (3) of this subsection. [, on the first day of 403
July in such assessment year.] If a replacement vehicle is replaced by the 404
owner of such replacement vehicle prior to the first day of October next 405
succeeding such assessment year, the replacement vehicle shall be 406
added by the assessor to the taxable grand list and subject to property 407
tax as provided in this subdivision. [and such other] Any motor vehicle 408
replacing [the] a replacement vehicle, or any motor vehicle replacing 409
such other motor vehicle in such assessment year, shall be deemed to be 410
the replacement vehicle for purposes of this subdivision. 411
[(3) For assessment years commencing on or after October 1, 2024, 412
whenever any person who owns a motor vehicle which has been entered 413
into the taxable list of the town where such motor vehicle is subject to 414
property tax in any assessment year and who, on or after the first day of 415
April of such assessment year but prior to the first day of October next 416
succeeding, replaces such motor vehicle with another motor vehicle, 417
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hereinafter referred to as the replacement vehicle, which vehicle may be 418
in a different classification for purposes of registration than the motor 419
vehicle replaced, and provided one of the following conditions is 420
applicable with respect to the motor vehicle replaced: (A) The unexpired 421
registration of the motor vehicle replaced is transferred to the 422
replacement vehicle, (B) the motor vehicle replaced was stolen or totally 423
damaged and proof concerning such theft or total damage is submitted 424
to the assessor in such town, or (C) the motor vehicle replaced is sold by 425
such person within forty-five days immediately prior to or following the 426
date on which such person acquires the replacement vehicle, such 427
person shall be liable for the payment of property tax with respect to the 428
replacement vehicle in the town in which the motor vehicle replaced is 429
subject to property tax pursuant to subdivision (4) of this subsection, on 430
the first day of January immediately succeeding such assessment year. 431
If a replacement vehicle is replaced by the owner of such replacement 432
vehicle prior to the first day of October next succeeding such assessment 433
year, the replacement vehicle shall be subject to property tax as 434
provided in this subdivision and such other motor vehicle replacing the 435
replacement vehicle, or any motor vehicle replacing such other motor 436
vehicle in such assessment year, shall be deemed to be the replacement 437
vehicle for purposes of this subdivision.] 438
[(4)] (3) The property tax payable with respect to a replacement 439
vehicle described in subdivision (2) [or (3)] of this subsection shall be 440
the amount by which (A) is in excess of (B) as follows: (A) The property 441
tax which would be payable if the replacement vehicle had been entered 442
in the taxable list of the town in which the motor vehicle replaced is 443
subject to property tax on the first day of October in such assessment 444
year if such registration occurs prior to the first day of November, 445
however, if such registration occurs on or after the first day of 446
November but prior to the first day of October next succeeding, such tax 447
shall be a pro rata portion of the amount of tax payable if such motor 448
vehicle had been entered in the taxable list of such town on October first 449
in such assessment year to be determined by ratio, the numerator of 450
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which shall be the number of months from the date of such registration, 451
including the month in which registration occurs, to the first day of 452
October next succeeding and the denominator of which shall be twelve, 453
provided if such person, on said first day of October, was entitled to any 454
exemption under section 12-81, as amended by this act, which was 455
allowed in the assessment of the motor vehicle replaced, such 456
exemption shall be allowed for purposes of determining the property 457
tax payable with respect to the replacement vehicle as provided herein; 458
(B) the property tax payable by such person with respect to the motor 459
vehicle replaced, provided if the replacement vehicle is registered 460
subsequent to the thirty-first day of October but prior to the first day of 461
October next succeeding such property tax payable with respect to the 462
motor vehicle replaced shall, for purposes of the computation herein, be 463
deemed to be a pro rata portion of such property tax to be prorated in 464
the same manner as the amount of tax determined under subparagraph 465
(A) [above] of this subdivision. 466
(c) (1) For assessment years commencing prior to October 1, 2024, any 467
person who owns a commercial motor vehicle which has been 468
temporarily registered at any time during any assessment year and 469
which has not during such period been entered in the taxable list of any 470
town in the state for purposes of the property tax and with respect to 471
which no permanent registration has been issued during such period, 472
shall be liable for the payment of property tax with respect to such motor 473
vehicle in the town where such motor vehicle is subject to property tax 474
on the first day of January immediately following the end of such 475
assessment year, in an amount as hereinafter provided. The property tax 476
payable shall be in the amount which would be payable if such motor 477
vehicle had been entered in the taxable list of the town where such 478
motor vehicle is subject to property tax on the first day of October in 479
such assessment year. 480
(2) For assessment years commencing on or after October 1, 2024, any 481
person who owns a commercial motor vehicle which has been 482
temporarily registered at any time during any assessment year and 483
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which has not during such period been entered in the taxable list of any 484
town in the state for purposes of the property tax and with respect to 485
which no permanent registration has been issued during such period, 486
shall be liable for the payment of property tax with respect to such motor 487
vehicle in the town where such motor vehicle is subject to property tax. 488
[on the first day of July of such assessment year or the first day of 489
January immediately following such assessment year, as applicable, 490
pursuant to subdivisions (2) and (3) of subsection (b) of this section.] The 491
property tax payable shall be in the amount which would be payable if 492
such motor vehicle had been entered in the taxable list of the town 493
where such motor vehicle is subject to property tax on the first day of 494
October in such assessment year. 495
(d) [Any] (1) For assessment years commencing prior to October 1, 496
2024, any motor vehicle subject to property tax as provided in this 497
section shall, except as otherwise provided in subsection (b) of this 498
section, be subject to such property tax in the town in which such motor 499
vehicle was last registered in the assessment year ending immediately 500
preceding the day on which such property tax is payable as provided in 501
this section. 502
(2) For assessment years commencing on or after October 1, 2024, any 503
motor vehicle subject to property tax as provided in this section shall, 504
except as otherwise provided in subsection (b) of this section, be subject 505
to property tax in the town in which such motor vehicle was first 506
registered in the assessment year. 507
(e) Whenever any motor vehicle subject to property tax as provided 508
in this section has been replaced by the owner with another motor 509
vehicle in the assessment year immediately preceding the day on which 510
such property tax is payable, each such motor vehicle shall be subject to 511
property tax as provided in this section. 512
(f) Upon receipt by the assessor in any town of notice from the 513
Commissioner of Motor Vehicles, in a manner as prescribed by said 514
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commissioner, with respect to any motor vehicle subject to property tax 515
in accordance with the provisions of this section and [which] that has 516
not been entered in the taxable grand list of such town, such assessor 517
shall determine the value of such motor vehicle for purposes of property 518
tax assessment and shall, for assessment years commencing (1) prior to 519
October 1, 2024, add such value to the taxable grand list in such town 520
for the immediately preceding assessment date, and [the] (2) on or after 521
October 1, 2024, add such value to the taxable grand list in such town. 522
The tax thereon shall be levied and collected by the tax collector. Such 523
property tax shall be payable not later than the first day of [(1)] (A) 524
February following the first day of January on which the owner of such 525
motor vehicle becomes liable for the payment of property tax, for 526
assessment years commencing prior to October 1, 2024, and [(2)] (B) the 527
month succeeding the month in which such property tax became due 528
and payable, for assessment years commencing on or after October 1, 529
2024, with respect to such motor vehicle in accordance with the 530
provisions of this section, subject to any determination in accordance 531
with section 12-142 that such tax shall be due and payable in 532
installments. [Said] 533
(g) (1) For assessment years commencing prior to October 1, 2024, 534
said owner may appeal the assessment of such motor vehicle, as 535
determined by the assessor in accordance with [this] subsection (f) of 536
this section, to the board of assessment appeals next succeeding the date 537
on which the tax based on such assessment is payable, and thereafter, to 538
the Superior Court as provided in section 12-117a. If the amount of such 539
tax is reduced upon appeal, the portion thereof which has been paid in 540
excess of the amount determined to be due upon appeal shall be 541
refunded to said owner. 542
(2) For assessment years commencing on or after October 1, 2024, said 543
owner may appeal the determination of the manufacturer's suggested 544
retail price used to assess a motor vehicle to the board of assessment 545
appeals next succeeding the date on which the tax based on such 546
assessment is payable, and thereafter, to the Superior Court as provided 547
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in section 12-117a. If the amount of such tax is reduced upon appeal, the 548
portion thereof which has been paid in excess of the amount determined 549
to be due upon appeal shall be refunded to said owner. 550
[(g)] (h) Any motor vehicle which is not registered in this state shall 551
be subject to property tax in this state if such motor vehicle in the normal 552
course of operation most frequently leaves from and returns to or 553
remains in one or more points within this state, and such motor vehicle 554
shall be subject to such property tax in the town within which such 555
motor vehicle in the normal course of operation most frequently leaves 556
from and returns to or remains, provided when the owner of such motor 557
vehicle is a resident in any town in the state, it shall be presumed that 558
such motor vehicle most frequently leaves from and returns to or 559
remains in such town unless evidence, satisfactory to the assessor in 560
such town, is submitted to the contrary. 561
Sec. 9. Subsection (b) of section 12-71c of the 2024 supplement to the 562
general statutes is repealed and the following is substituted in lieu 563
thereof (Effective July 1, 2024, and applicable to assessment years commencing 564
on or after October 1, 2024): 565
(b) Any person claiming a property tax credit with respect to a motor 566
vehicle in accordance with subsection (a) of this section shall file with 567
the assessor in the town in which such person is entitled to such 568
property tax credit, documentation satisfactory to the assessor 569
concerning the sale, total damage, theft or removal and registration of 570
such motor vehicle. [For assessment years commencing prior to October 571
1, 2024, such] Such documentation shall be filed not later than the thirty-572
first day of December immediately following the end of the assessment 573
year which next follows the assessment year in which such motor 574
vehicle was sold, damaged, stolen or removed and registered. [For 575
assessment years commencing on or after October 1, 2024, such 576
documentation shall be filed not later than three years after the date 577
upon which such tax was due and payable for such motor vehicle.] 578
Failure to file such claim and documentation as prescribed herein shall 579
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constitute a waiver of the right to such property tax credit. 580
Sec. 10. Subdivision (74) of section 12-81 of the 2024 supplement to 581
the general statutes is repealed and the following is substituted in lieu 582
thereof (Effective July 1, 2024, and applicable to assessment years commencing 583
on or after October 1, 2024): 584
(74) (A) (i) For a period not to exceed five assessment years following 585
the assessment year in which it is first registered, any new commercial 586
truck, truck tractor, tractor and semitrailer, and vehicle used in 587
combination therewith, which is used exclusively to transport freight for 588
hire and: Is either subject to the jurisdiction of the United States 589
Department of Transportation pursuant to Chapter 135 of Title 49, 590
United States Code, or any successor thereto, or would otherwise be 591
subject to said jurisdiction except for the fact that the vehicle is used 592
exclusively in intrastate commerce; has a gross vehicle weight rating in 593
excess of twenty-six thousand pounds; and prior to August 1, 1996, was 594
not registered in this state or in any other jurisdiction but was registered 595
in this state on or after said date. (ii) For a period not to exceed five 596
assessment years following the assessment year in which it is first 597
registered, any new commercial truck, truck tractor, tractor and 598
semitrailer, and vehicle used in combination therewith, not eligible 599
under subparagraph (A)(i) of this subdivision, that has a gross vehicle 600
weight rating in excess of fifty-five thousand pounds and was not 601
registered in this state or in any other jurisdiction but was registered in 602
this state on or after August 1, 1999. As used in this subdivision, "gross 603
vehicle weight rating" has the same meaning as provided in section 14-604
1; 605
(B) Any person who on October first in any year holds title to or is 606
the registrant of a vehicle for which such person intends to claim the 607
exemption provided in this subdivision shall file with the assessor or 608
board of assessors in the municipality in which the vehicle is subject to 609
property taxation, on or before the first day of November in such year, 610
a written application claiming such exemption on a form prescribed by 611
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the Secretary of the Office of Policy and Management. Such person shall 612
include information as to the make, model, year and vehicle 613
identification number of each such vehicle, and any appurtenances 614
attached thereto, in such application. The person holding title to or the 615
registrant of such vehicle for which exemption is claimed shall furnish 616
the assessor or board of assessors with such supporting documentation 617
as said secretary may require, including, but not limited to, evidence of 618
vehicle use, acquisition cost and registration. Failure to file such 619
application in this manner and form within the time limit prescribed 620
shall constitute a waiver of the right to such exemption for such 621
assessment year, unless an extension of time is allowed as provided in 622
section 12-81k. Such application shall not be required for any assessment 623
year following that for which the initial application is filed, provided if 624
the vehicle is modified, such modification shall be deemed a waiver of 625
the right to such exemption until a new application is filed and the right 626
to such exemption is established as required initially. With respect to 627
any vehicle for which the exemption under this subdivision has 628
previously been claimed in a town other than that in which the vehicle 629
is registered on any assessment date, the person shall not be entitled to 630
such exemption until a new application is filed and the right to such 631
exemption is established in said town; 632
(C) With respect to any vehicle which is not registered on the first day 633
of October in any assessment year and which is registered subsequent 634
to said first day of October [but prior to the first day of August] in such 635
assessment year, the value of such vehicle for property tax exemption 636
purposes shall be a pro rata portion of the value determined in 637
accordance with subparagraph (D) of this subdivision, to be determined 638
by a ratio, the numerator of which shall be the number of months from 639
the date of such registration, including the month in which registration 640
occurs, to the first day of October next succeeding and the denominator 641
of which shall be twelve. For purposes of this subdivision, "assessment 642
year" means the period of twelve full months commencing with October 643
first each year; 644
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(D) For assessment years commencing prior to October 1, 2024, 645
notwithstanding the provisions of section 12-71d, as amended by this 646
act, the assessor or board of assessors shall determine the value for each 647
vehicle with respect to which a claim for exemption under this 648
subdivision is approved, based on the vehicle's cost of acquisition, 649
including costs related to the modification of such vehicle, adjusted for 650
depreciation; 651
(E) For assessment years commencing on or after October 1, 2024, the 652
assessor or board of assessors shall determine the value for each vehicle, 653
with respect to which a claim for exemption under this subdivision is 654
approved, pursuant to the provisions of section 12-71d, as amended by 655
this act; 656
Sec. 11. Subsection (a) of section 7-152e of the general statutes is 657
repealed and the following is substituted in lieu thereof (Effective July 1, 658
2024): 659
(a) Notwithstanding any provision of the general statutes or special 660
act, municipal charter or ordinance, any municipality may, by ordinance 661
adopted by its legislative body, establish a fine to be imposed against 662
any owner of a motor vehicle that is subject to property tax in the 663
municipality pursuant to subsection [(g)] (h) of section 12-71b, as 664
amended by this act, who fails to register such motor vehicle with the 665
Commissioner of Motor Vehicles, provided (1) such motor vehicle is 666
eligible for registration and required to be registered under the 667
provisions of chapter 246, (2) such fine shall not be more than two 668
hundred fifty dollars, (3) any penalty for the failure to pay such fine by 669
a date prescribed by the municipality shall not be more than twenty-five 670
per cent of such fine, and (4) such fine shall be suspended for a first time 671
violator who presents proof of registration for such motor vehicle 672
subsequent to the violation but prior to the imposition of a fine. 673
Sec. 12. Subparagraph (B) of subdivision (7) of subsection (f) of 674
section 12-71 of the 2024 supplement to the general statutes is repealed 675
Bill No.
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and the following is substituted in lieu thereof (Effective from passage): 676
(B) For assessment years commencing on or after October 1, 2024, 677
information concerning any vehicle subject to taxation in a town other 678
than the town in which it is registered may be included on any 679
declaration or report filed pursuant to section 12-41, as amended by this 680
act, 12-43 or 12-57a. If a motor vehicle is listed in a town in which it is 681
not subject to taxation, pursuant to the provisions of subdivision (5) of 682
this subsection, the assessor of the town in which such vehicle is listed 683
shall notify the assessor of the town in which such vehicle is [listed] 684
registered of the name and address of the owner of such motor vehicle, 685
the vehicle identification number and the town in which such vehicle is 686
taxed. The assessor of the town in which said vehicle is registered and 687
the assessor of the town in which said vehicle is listed shall cooperate in 688
administering the provisions of this section concerning the listing of 689
such vehicle for property tax purposes. 690
Sec. 13. Section 12-71e of the general statutes is repealed and the 691
following is substituted in lieu thereof (Effective July 1, 2025): 692
(a) Notwithstanding the provisions of any special act, municipal 693
charter or home rule ordinance, (1) for the assessment year commencing 694
October 1, 2016, the mill rate for motor vehicles shall not exceed 39 mills, 695
(2) for the assessment years commencing October 1, 2017, to October 1, 696
2020, inclusive, the mill rate for motor vehicles shall not exceed 45 mills, 697
and (3) for the assessment year commencing October 1, 2021, and each 698
assessment year thereafter, the mill rate for motor vehicles shall not 699
exceed 32.46 mills. 700
(b) Any municipality or district may establish a mill rate for motor 701
vehicles that is equal to or lower than 32.46 mills, including zero mills. 702
Such mill rate may be different from [its] the mill rate for real property 703
and personal property other than motor vehicles to comply with the 704
provisions of this section, provided the mill rate for motor vehicles is 705
lower than the mill rate for real property and personal property. No 706
Bill No.
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district or borough may set a motor vehicle mill rate that if combined 707
with the motor vehicle mill rate of the town, city, consolidated town and 708
city or consolidated town and borough in which such district or 709
borough is located would result in a combined motor vehicle mill rate 710
(1) above 39 mills for the assessment year commencing October 1, 2016, 711
(2) above 45 mills for the assessment years commencing October 1, 2017, 712
to October 1, 2020, inclusive, or (3) above 32.46 mills for the assessment 713
year commencing October 1, 2021, and each assessment year thereafter. 714
(c) Notwithstanding the provisions of any special act, municipal 715
charter or home rule ordinance, a municipality or district that set a 716
motor vehicle mill rate prior to May 7, 2022, for the assessment year 717
commencing October 1, 2021, may, by vote of its legislative body, or if 718
the legislative body is a town meeting, the board of selectmen, revise 719
such mill rate to meet the requirements of this section, provided such 720
revision occurs not later than June 15, 2022. 721
(d) Notwithstanding the provisions of section 12-112, any board of 722
assessment appeals of a municipality that mailed or distributed, prior to 723
October 31, 2017, bills to taxpayers for motor vehicle property taxes 724
based on assessments made for the assessment year commencing 725
October 1, 2016, shall hear or entertain any appeals related to such 726
assessments not later than December 15, 2017. 727
(e) The Secretary of the Office of Policy and Management shall notify 728
the chief executive officer of each municipality: 729
(1) Annually, (A) of the municipality's option to reduce the mill rate 730
for motor vehicles to lower than 32.46 mills, including zero mills, and 731
(B) that such mill rate may be different from the mill rate for real 732
property and personal property other than motor vehicles to comply 733
with the provisions of this section, provided the mill rate for motor 734
vehicles is lower than the mill rate for real property and personal 735
property; and 736
(2) In advance of the implementation of a municipality's revaluation 737
Bill No.
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pursuant to section 12-62, of the municipality's option to consider and 738
evaluate the reduction of the mill rate for motor vehicles in the same 739
fiscal year in which the revaluation is implemented. 740
[(e)] (f) For the purposes of this section, "municipality" means any 741
town, city, borough, consolidated town and city, consolidated town and 742
borough and "district" [means any district, as defined] has the same 743
meaning as provided in section 7-324. 744
Sec. 14. Section 36a-2 of the 2024 supplement to the general statutes 745
is repealed and the following is substituted in lieu thereof (Effective July 746
1, 2024): 747
As used in this title, unless the context otherwise requires: 748
(1) "Affiliate" of a person means any person controlling, controlled 749
by, or under common control with, that person; 750
(2) "Applicant" with respect to any license or approval provision 751
pursuant to this title means a person who applies for that license or 752
approval; 753
(3) "Automated teller machine" means a stationary or mobile device 754
that is unattended or equipped with a telephone or televideo device that 755
allows contact with bank personnel, including a satellite device but 756
excluding a [point of sale] point-of-sale terminal, at which banking 757
transactions, including, but not limited to, deposits, withdrawals, 758
advances, payments or transfers, may be conducted; 759
(4) "Bank" means a Connecticut bank or a federal bank; 760
(5) "Bank and trust company" means an institution chartered or 761
organized under the laws of this state as a bank and trust company; 762
(6) "Bank holding company" has the meaning given to that term in 12 763
USC Section 1841(a), as amended from time to time, except that the term 764
"bank", as used in 12 USC Section 1841(a), includes a bank or out-of-state 765
Bill No.
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bank that functions solely in a trust or fiduciary capacity; 766
(7) "Capital and surplus" has the same meaning as provided in 12 CFR 767
1.2, as amended from time to time; 768
(8) "Capital stock" when used in conjunction with any bank or out-of-769
state bank means a bank or out-of-state bank that is authorized to 770
accumulate funds through the issuance of its capital stock; 771
(9) "Client" means a beneficiary of a trust for whom the Connecticut 772
bank acts as trustee, a person for whom the Connecticut bank acts as 773
agent, custodian or bailee, or other person to whom a Connecticut bank 774
owes a duty or obligation under a trust or other account administered 775
by such Connecticut bank, regardless of whether such Connecticut bank 776
owes a fiduciary duty to the person; 777
(10) "Club deposit" means deposits to be received at regular intervals, 778
the whole amount deposited to be withdrawn by the owner or repaid 779
by the bank in not more than fifteen months from the date of the first 780
deposit, and upon which no interest or dividends need to be paid; 781
(11) "Commissioner" means the Banking Commissioner and, with 782
respect to any function of the commissioner, includes any person 783
authorized or designated by the commissioner to carry out that 784
function; 785
(12) "Company" means any corporation, joint stock company, trust, 786
association, partnership, limited partnership, unincorporated 787
organization, limited liability company or similar organization, but does 788
not include (A) any corporation the majority of the shares of which are 789
owned by the United States or by any state, or (B) any trust which by its 790
terms shall terminate within twenty-five years or not later than twenty-791
one years and ten months after the death of beneficiaries living on the 792
effective date of the trust; 793
(13) "Connecticut bank" means a bank and trust company, savings 794
Bill No.
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bank or savings and loan association chartered or organized under the 795
laws of this state; 796
(14) "Connecticut credit union" means a cooperative, nonprofit 797
financial institution that (A) is organized under chapter 667 and the 798
membership of which is limited as provided in section 36a-438a, (B) 799
operates for the benefit and general welfare of its members with the 800
earnings, benefits or services offered being distributed to or retained for 801
its members, and (C) is governed by a volunteer board of directors 802
elected by and from its membership; 803
(15) "Connecticut credit union service organization" means a credit 804
union service organization that is (A) incorporated under the laws of 805
this state, located in this state and established by at least one Connecticut 806
credit union, or (B) wholly owned by a credit union that converted into 807
a Connecticut credit union pursuant to section 36a-469b; 808
(16) "Consolidation" means a combination of two or more institutions 809
into a new institution; all institutions party to the consolidation, other 810
than the new institution, are "constituent" institutions; the new 811
institution is the "resulting" institution; 812
(17) "Control" has the meaning given to that term in 12 USC Section 813
1841(a), as amended from time to time; 814
(18) "Credit union service organization" means an entity organized 815
under state or federal law to provide credit union service organization 816
services primarily to its members, to Connecticut credit unions, federal 817
credit unions and out-of-state credit unions other than its members, and 818
to members of any such other credit unions; 819
(19) "Customer" means any person using a service offered by a 820
financial institution; 821
(20) "Demand account" means an account into which demand 822
deposits may be made; 823
Bill No.
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(21) "Demand deposit" means a deposit that is payable on demand, a 824
deposit issued with an original maturity or required notice period of less 825
than seven days or a deposit representing funds for which the bank does 826
not reserve the right to require at least seven days' written notice of the 827
intended withdrawal, but does not include any time deposit; 828
(22) "Deposit" means funds deposited with a depository; 829
(23) "Deposit account" means an account into which deposits may be 830
made; 831
(24) "Depositor" includes a member of a mutual savings and loan 832
association; 833
(25) "Director" means a member of the governing board of a financial 834
institution; 835
(26) "Equity capital" means the excess of a Connecticut bank's total 836
assets over its total liabilities, as defined in the instructions of the federal 837
Financial Institutions Examination Council for consolidated reports of 838
condition and income; 839
(27) "Executive officer" means every officer of a Connecticut bank 840
who participates or has authority to participate, otherwise than in the 841
capacity of a director, in major policy-making functions of such bank, 842
regardless of whether such officer has an official title or whether that 843
title contains a designation of assistant and regardless of whether such 844
officer is serving without salary or other compensation. The president, 845
vice president, secretary and treasurer of such bank are deemed to be 846
executive officers, unless, by resolution of the governing board or by 847
such bank's bylaws, any such officer is excluded from participation in 848
major policy-making functions, otherwise than in the capacity of a 849
director of such bank, and such officer does not actually participate in 850
such policy-making functions; 851
(28) "Federal agency" has the meaning given to that term in 12 USC 852
Bill No.
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Section 3101, as amended from time to time; 853
(29) "Federal bank" means a national banking association, federal 854
savings bank or federal savings and loan association having its principal 855
office in this state; 856
(30) "Federal branch" has the meaning given to that term in 12 USC 857
Section 3101, as amended from time to time; 858
(31) "Federal credit union" means any institution chartered or 859
organized as a federal credit union pursuant to the laws of the United 860
States having its principal office in this state; 861
(32) "Fiduciary" means a person undertaking to act alone or jointly 862
with others primarily for the benefit of another or others in all matters 863
connected with its undertaking and includes a person acting in the 864
capacity of trustee, executor, administrator, guardian, assignee, 865
receiver, conservator, agent, custodian under the Connecticut Uniform 866
Gifts to Minors Act or the Uniform Transfers to Minors Act, and acting 867
in any other similar capacity; 868
(33) "Financial institution" means any Connecticut bank, Connecticut 869
credit union, or other person whose activities in this state are subject to 870
the supervision of the commissioner, but does not include a person 871
whose activities are subject to the supervision of the commissioner 872
solely pursuant to chapter 672a, 672b or 672c or any combination 873
thereof; 874
(34) "Foreign bank" has the meaning given to that term in 12 USC 875
Section 3101, as amended from time to time; 876
(35) "Foreign country" means any country other than the United 877
States and includes any colony, dependency or possession of any such 878
country; 879
(36) "Governing board" means the group of persons vested with the 880
management of the affairs of a financial institution irrespective of the 881
Bill No.
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name by which such group is designated; 882
(37) "Holding company" means a bank holding company or a savings 883
and loan holding company, except, as used in sections 36a-180 to 36a-884
191, inclusive, "holding company" means a company that controls a 885
bank; 886
(38) "Innovation bank" means a Connecticut bank that does not accept 887
retail deposits, but may accept nonretail deposits which are eligible for 888
insurance from the Federal Deposit Insurance Corporation or the 889
Federal Deposit Insurance Corporation's successor agency; 890
[(38)] (39) "Insured depository institution" has the meaning given to 891
that term in 12 USC Section 1813, as amended from time to time; 892
[(39)] (40) "Licensee" means any person who is licensed or required 893
to be licensed pursuant to the applicable provisions of this title; 894
[(40)] (41) "Loan" includes any line of credit or other extension of 895
credit; 896
[(41)] (42) "Loan production office" means an office of a bank or out-897
of-state bank, other than a foreign bank, whose activities are limited to 898
loan production and solicitation; 899
[(42)] (43) "Merger" means the combination of one or more 900
institutions with another which continues its corporate existence; all 901
institutions party to the merger are "constituent" institutions; the 902
merging institution which upon the merger continues its existence is the 903
"resulting" institution; 904
[(43)] (44) "Mutual" when used in conjunction with any institution 905
that is a bank or out-of-state bank means any such institution without 906
capital stock; 907
[(44)] (45) "Mutual holding company" means a mutual holding 908
company organized under sections 36a-192 to 36a-199, inclusive, and 909
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unless otherwise indicated, a subsidiary holding company controlled by 910
a mutual holding company organized under sections 36a-192 to 36a-199, 911
inclusive; 912
[(45)] (46) "Out-of-state" includes any state other than Connecticut 913
and any foreign country; 914
[(46)] (47) "Out-of-state bank" means any institution that engages in 915
the business of banking, but does not include a bank, Connecticut credit 916
union, federal credit union or out-of-state credit union; 917
[(47)] (48) "Out-of-state credit union" means any credit union other 918
than a Connecticut credit union or a federal credit union; 919
[(48)] (49) "Out-of-state trust company" means any company 920
chartered to act as a fiduciary but does not include a company chartered 921
under the laws of this state, a bank, an out-of-state bank, a Connecticut 922
credit union, a federal credit union or an out-of-state credit union; 923
[(49)] (50) "Person" means an individual, company, including a 924
company described in subparagraphs (A) and (B) of subdivision (12) of 925
this section, or any other legal entity, including a federal, state or 926
municipal government or agency or any political subdivision thereof; 927
[(50) "Point of sale terminal"] (51) "Point-of-sale terminal" means a 928
device located in a commercial establishment at which sales transactions 929
can be charged directly to the buyer's deposit, loan or credit account, but 930
at which deposit transactions cannot be conducted; 931
[(51)] (52) "Prepayment penalty" means any charge or penalty for 932
paying all or part of the outstanding balance owed on a loan before the 933
date on which the principal is due and includes computing a refund of 934
unearned interest by a method that is less favorable to the borrower than 935
the actuarial method, as defined by Section 933(d) of the Housing and 936
Community Development Act of 1992, 15 USC 1615(d), as amended 937
from time to time; 938
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[(52)] (53) "Reorganized savings bank" means any savings bank 939
incorporated and organized in accordance with sections 36a-192 and 940
36a-193; 941
[(53)] (54) "Reorganized savings and loan association" means any 942
savings and loan association incorporated and organized in accordance 943
with sections 36a-192 and 36a-193; 944
[(54)] (55) "Reorganized savings institution" means any reorganized 945
savings bank or reorganized savings and loan association; 946
[(55)] (56) "Representative office" has the meaning given to that term 947
in 12 USC Section 3101, as amended from time to time; 948
[(56)] (57) "Reserves for loan and lease losses" means the amounts 949
reserved by a Connecticut bank against possible loan and lease losses as 950
shown on the bank's consolidated reports of condition and income; 951
[(57)] (58) "Retail deposits" means any deposits made by individuals 952
who are not "accredited investors", as defined in 17 CFR 230.501(a); 953
[(58)] (59) "Satellite device" means an automated teller machine which 954
is not part of an office of the bank, Connecticut credit union or federal 955
credit union which has established such machine; 956
[(59)] (60) "Savings account" means a deposit account, other than an 957
escrow account established pursuant to section 49-2a, into which 958
savings deposits may be made and which account must be evidenced 959
by periodic statements delivered at least semiannually or by a passbook; 960
[(60)] (61) "Savings and loan association" means an institution 961
chartered or organized under the laws of this state as a savings and loan 962
association; 963
[(61)] (62) "Savings bank" means an institution chartered or organized 964
under the laws of this state as a savings bank; 965
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[(62)] (63) "Savings deposit" means any deposit other than a demand 966
deposit or time deposit on which interest or a dividend is paid 967
periodically; 968
[(63)] (64) "Savings and loan holding company" has the meaning 969
given to that term in 12 USC Section 1467a, as amended from time to 970
time; 971
[(64)] (65) "Share account holder" means a person who maintains a 972
share account in a Connecticut credit union, federal credit union or out-973
of-state credit union that maintains in this state a branch, as defined in 974
section 36a-435b; 975
[(65)] (66) "State" means any state of the United States, the District of 976
Columbia, any territory of the United States, Puerto Rico, Guam, 977
American Samoa, the trust territory of the Pacific Islands, the Virgin 978
Islands and the Northern Mariana Islands; 979
[(66)] (67) "State agency" has the meaning given to that term in 12 USC 980
Section 3101, as amended from time to time; 981
[(67)] (68) "State branch" has the meaning given to that term in 12 USC 982
Section 3101, as amended from time to time; 983
[(68)] (69) "Subsidiary" has the meaning given to that term in 12 USC 984
Section 1841(d), as amended from time to time; 985
[(69)] (70) "Subsidiary holding company" means a stock holding 986
company, controlled by a mutual holding company, that holds one 987
hundred per cent of the stock of a reorganized savings institution; 988
[(70)] (71) "Supervisory agency" means: (A) The commissioner; (B) the 989
Federal Deposit Insurance Corporation; (C) the Resolution Trust 990
Corporation; (D) the Office of Thrift Supervision; (E) the National Credit 991
Union Administration; (F) the Board of Governors of the Federal 992
Reserve System; (G) the United States Comptroller of the Currency; (H) 993
the Bureau of Consumer Financial Protection; and (I) any successor to 994
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any of the foregoing agencies or individuals; 995
[(71)] (72) "System" means the Nationwide Mortgage Licensing 996
System and Registry, NMLS, NMLSR or such other name or acronym as 997
may be assigned to the multistate system developed by the Conference 998
of State Bank Supervisors and the American Association of Residential 999
Mortgage Regulators and owned and operated by the State Regulatory 1000
Registry, LLC, or any successor or affiliated entity, for the licensing and 1001
registration of persons in the mortgage and other financial services 1002
industries; 1003
[(72)] (73) "Time account" means an account into which time deposits 1004
may be made; 1005
[(73)] (74) "Time deposit" means a deposit that the depositor or share 1006
account holder does not have a right and is not permitted to make 1007
withdrawals from within six days after the date of deposit, unless the 1008
deposit is subject to an early withdrawal penalty of at least seven days' 1009
simple interest on amounts withdrawn within the first six days after 1010
deposit, subject to those exceptions permissible under 12 CFR Part 204, 1011
as amended from time to time; and 1012
[(74)] (75) "Trust bank" means a Connecticut bank organized to 1013
function solely in a fiduciary capacity. [; and 1014
(75) "Uninsured bank" means a Connecticut bank that does not accept 1015
retail deposits and for which insurance of deposits by the Federal 1016
Deposit Insurance Corporation or its successor agency is not required.] 1017
Sec. 15. Subsection (e) of section 36a-65 of the general statutes is 1018
repealed and the following is substituted in lieu thereof (Effective July 1, 1019
2024): 1020
(e) (1) If the commissioner determines that the assessment to be 1021
collected from an [uninsured] innovation bank or a trust bank pursuant 1022
to subdivision (1) of subsection (a) of this section is unreasonably low or 1023
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high based on the size and risk profile of the bank, the commissioner 1024
may require such bank to pay a fee in lieu of such assessment. Each such 1025
bank shall pay such fee to the commissioner not later than the date 1026
specified by the commissioner for payment. If payment of such fee is not 1027
made by the time specified by the commissioner, such bank shall pay to 1028
the commissioner an additional two hundred dollars. 1029
(2) Any [uninsured] innovation bank required to pay a fee in lieu of 1030
assessment shall also pay to the commissioner the actual cost of the 1031
examination of such bank, as such cost is determined by the 1032
commissioner. 1033
Sec. 16. Subsections (n) to (u), inclusive, of section 36a-70 of the 1034
general statutes are repealed and the following is substituted in lieu 1035
thereof (Effective July 1, 2024): 1036
(n) The Connecticut bank shall not commence business until: (1) A 1037
final certificate of authority has been issued in accordance with 1038
subsection (l) of this section, (2) except in the case of a trust bank, an 1039
interim Connecticut bank organized pursuant to subsection (p) of this 1040
section, or an [uninsured] innovation bank organized pursuant to 1041
subsection (t) of this section, until its insurable accounts or deposits are 1042
insured by the Federal Deposit Insurance Corporation or its successor 1043
agency, and (3) it has complied with the requirements of subsection (u) 1044
of this section, if applicable. The acceptance of subscriptions for deposits 1045
by a mutual savings bank or mutual savings and loan association as may 1046
be necessary to obtain insurance by the Federal Deposit Insurance 1047
Corporation or its successor agency shall not be considered to be 1048
commencing business. No Connecticut bank other than a trust bank 1049
may exercise any of the fiduciary powers granted to Connecticut banks 1050
by law until express authority therefor has been given by the 1051
commissioner. 1052
(o) Prior to the issuance of a final certificate of authority to commence 1053
business in accordance with subsection (l) of this section, the 1054
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Connecticut bank shall pay to the State Treasurer a franchise tax, 1055
together with a filing fee of twenty dollars for the required papers. The 1056
franchise tax for a mutual savings bank and mutual savings and loan 1057
association shall be thirty dollars. The franchise tax for all capital stock 1058
Connecticut banks shall be one cent per share up to and including the 1059
first ten thousand authorized shares, one-half cent per share for each 1060
authorized share in excess of ten thousand shares up to and including 1061
one hundred thousand shares, one-quarter cent per share for each 1062
authorized share in excess of one hundred thousand shares up to and 1063
including one million shares and one-fifth cent per share for each 1064
authorized share in excess of one million shares. 1065
(p) (1) One or more persons may organize an interim Connecticut 1066
bank solely (A) for the acquisition of an existing bank, whether by 1067
acquisition of stock, by acquisition of assets, or by merger or 1068
consolidation, or (B) to facilitate any other corporate transaction 1069
authorized by this title in which the commissioner has determined that 1070
such transaction has adequate regulatory supervision to justify the 1071
organization of an interim Connecticut bank. Such interim Connecticut 1072
bank shall not accept deposits or otherwise commence business. 1073
Subdivision (2) of subsection (c) and subsections (d), (f), (g), (h) and (o) 1074
of this section shall not apply to the organization of an interim bank, 1075
provided the commissioner may, in the commissioner's discretion, 1076
order a hearing under subsection (e) or require that the organizers 1077
publish or mail the proposed certificate of incorporation or both. The 1078
approving authority for an interim Connecticut bank shall be the 1079
commissioner acting alone. If the approving authority determines that 1080
the organization of the interim Connecticut bank complies with 1081
applicable law, the approving authority shall issue a temporary 1082
certificate of authority conditioned on the approval by the appropriate 1083
supervisory agency of the corporate transaction for which the interim 1084
Connecticut bank is formed. 1085
(2) (A) Notwithstanding any provision of this title, for the period 1086
from June 13, 2011, to September 30, 2013, inclusive, one or more 1087
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persons may apply to the commissioner for the conditional preliminary 1088
approval of one or more expedited Connecticut banks organized 1089
primarily for the purpose of assuming liabilities and purchasing assets 1090
from the Federal Deposit Insurance Corporation when the Federal 1091
Deposit Insurance Corporation is acting as receiver or conservator of an 1092
insured depository institution. The application shall be made on a form 1093
acceptable to the commissioner and shall be executed and 1094
acknowledged by the applicant or applicants. Such application shall 1095
contain sufficient information for the commissioner to evaluate (i) the 1096
amount, type and sources of capital that would be available to the bank 1097
or banks; (ii) the ownership structure and holding companies, if any, 1098
over the bank or banks; (iii) the identity, biographical information and 1099
banking experience of each of the initial organizers and prospective 1100
initial directors, senior executive officers and any individual, group or 1101
proposed shareholders of the bank that will own or control ten per cent 1102
or more of the stock of the bank or banks; (iv) the overall strategic plan 1103
of the organizers and investors for the bank or banks; and (v) a 1104
preliminary business plan outlining intended product and business 1105
lines, retail branching plans and capital, earnings and liquidity 1106
projections. The commissioner, acting alone, shall grant conditional 1107
preliminary approval of such application to organize if the 1108
commissioner determines that the organizers have available sufficient 1109
committed funds to invest in the bank or banks; the organizers and 1110
proposed directors possess capacity and fitness for the duties and 1111
responsibilities with which they will be charged; the proposed bank or 1112
banks have a reasonable chance of success and will be operated in a safe 1113
and sound manner; and the fee for investigating and processing the 1114
application has been paid in accordance with subparagraph (H) of 1115
subdivision (1) of subsection (d) of section 36a-65. Such preliminary 1116
approval shall be subject to such conditions as the commissioner deems 1117
appropriate, including the requirements that the bank or banks not 1118
commence the business of a Connecticut bank until after their bid or 1119
application for a particular insured depository institution is accepted by 1120
the Federal Deposit Insurance Corporation, that the background checks 1121
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are satisfactory, and that the organizers submit, for the safety and 1122
soundness review by the commissioner, more detailed operating plans 1123
and current financial statements as potential acquisition transactions are 1124
considered, and such plans and statements are satisfactory to the 1125
commissioner. The commissioner may alter, suspend or revoke the 1126
conditional preliminary approval if the commissioner deems any 1127
interim development warrants such action. The conditional preliminary 1128
approval shall expire eighteen months from the date of approval, unless 1129
extended by the commissioner. 1130
(B) The commissioner shall not issue a final certificate of authority to 1131
commence the business of a Connecticut bank or banks under this 1132
subdivision until all conditions and preopening requirements and 1133
applicable state and federal regulatory requirements have been met and 1134
the fee for issuance of a final certificate of authority for an expedited 1135
Connecticut bank has been paid in accordance with subparagraph (M) 1136
of subdivision (1) of subsection (d) of section 36a-65. The commissioner 1137
may waive any requirement under this title or regulations adopted 1138
under this title that is necessary for the consummation of an acquisition 1139
involving an expedited Connecticut bank if the commissioner finds that 1140
such waiver is advisable and in the interest of depositors or the public, 1141
provided the commissioner shall not waive the requirement that the 1142
institution's insurable accounts or deposits be federally insured. Any 1143
such waiver granted by the commissioner under this subparagraph 1144
shall be in writing and shall set forth the reason or reasons for the 1145
waiver. The commissioner may impose conditions on the final certificate 1146
of authority as the commissioner deems necessary to ensure that the 1147
bank will be operated in a safe and sound manner. The commissioner 1148
shall cause notice of the issuance of the final certificate of authority to be 1149
published in the department's weekly bulletin. 1150
(q) (1) As used in this subsection, "bankers' bank" means a 1151
Connecticut bank that is (A) owned exclusively by (i) any combination 1152
of banks, out-of-state banks, Connecticut credit unions, federal credit 1153
unions, or out-of-state credit unions, or (ii) a bank holding company that 1154
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is owned exclusively by any such combination, and (B) engaged 1155
exclusively in providing services for, or that indirectly benefit, other 1156
banks, out-of-state banks, Connecticut credit unions, federal credit 1157
unions, or out-of-state credit unions and their directors, officers and 1158
employees. 1159
(2) One or more persons may organize a bankers' bank in accordance 1160
with the provisions of this section, except that subsections (g) and (h) of 1161
this section shall not apply. The approving authority for a bankers' bank 1162
shall be the commissioner acting alone. Before granting a temporary 1163
certificate of authority in the case of an application to organize a 1164
bankers' bank, the approving authority shall consider (A) whether the 1165
proposed bankers' bank will facilitate the provision of services that such 1166
banks, out-of-state banks, Connecticut credit unions, federal credit 1167
unions, or out-of-state credit unions would not otherwise be able to 1168
readily obtain, and (B) the character and experience of the proposed 1169
directors and officers. The application to organize a bankers' bank shall 1170
be approved if the approving authority determines that the interest of 1171
the public will be directly or indirectly served to advantage by the 1172
establishment of the proposed bankers' bank, and the proposed 1173
directors possess capacity and fitness for the duties and responsibilities 1174
with which they will be charged. 1175
(3) A bankers' bank shall have all of the powers of and be subject to 1176
all of the requirements applicable to a Connecticut bank under this title 1177
which are not inconsistent with this subsection, except to the extent the 1178
commissioner limits such powers by regulation. Upon the written 1179
request of a bankers' bank, the commissioner may waive specific 1180
requirements of this title and the regulations adopted thereunder if the 1181
commissioner finds that (A) the requirement pertains primarily to banks 1182
that provide retail or consumer banking services and is inconsistent 1183
with this subsection, and (B) the requirement may impede the ability of 1184
the bankers' bank to compete or to provide desired services to its market 1185
provided, any such waiver and the commissioner's findings shall be in 1186
writing and shall be made available for public inspection. 1187
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(4) The commissioner may adopt regulations, in accordance with 1188
chapter 54, to administer the provisions of this subsection. 1189
(r) (1) As used in this subsection and section 36a-139, "community 1190
bank" means a Connecticut bank that is organized pursuant to this 1191
subsection and is subject to the provisions of this subsection and section 1192
36a-139. 1193
(2) One or more persons may organize a community bank in 1194
accordance with the provisions of this section, except that subsection (g) 1195
of this section shall not apply. Any such community bank shall 1196
commence business with a minimum equity capital of at least three 1197
million dollars. The approving authority for a community bank shall be 1198
the commissioner acting alone. In addition to the considerations and 1199
determinations required by subsection (h) of this section, before 1200
granting a temporary certificate of authority to organize a community 1201
bank, the approving authority shall determine that (A) each of the 1202
proposed directors and proposed executive officers, as defined in 1203
subparagraph (D) of subdivision (3) of this subsection, possesses 1204
capacity and fitness for the duties and responsibilities with which such 1205
director or officer will be charged, and (B) there is satisfactory 1206
community support for the proposed community bank based on 1207
evidence of such support provided by the organizers to the approving 1208
authority. If the approving authority cannot make such determination 1209
with respect to any such proposed director or proposed executive 1210
officer, the approving authority may refuse to allow such proposed 1211
director or proposed executive officer to serve in such capacity in the 1212
proposed community bank. 1213
(3) A community bank shall have all of the powers of and be subject 1214
to all of the requirements and limitations applicable to a Connecticut 1215
bank under this title which are not inconsistent with this subsection, 1216
except: (A) No community bank may (i) exercise any of the fiduciary 1217
powers granted to Connecticut banks by law until express authority 1218
therefor has been given by the approving authority, (ii) establish and 1219
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maintain one or more mutual funds, (iii) invest in derivative securities 1220
other than mortgage-backed securities fully guaranteed by 1221
governmental agencies or government sponsored agencies, (iv) own 1222
any real estate for the present or future use of the bank unless the 1223
approving authority finds, based on an independently prepared 1224
analysis of costs and benefits, that it would be less costly to the bank to 1225
own instead of lease such real estate, or (v) make mortgage loans 1226
secured by nonresidential real estate the aggregate amount of which, at 1227
the time of origination, exceeds ten per cent of all assets of such bank; 1228
(B) the aggregate amount of all loans made by a community bank shall 1229
not exceed eighty per cent of the total deposits held by such bank; (C) (i) 1230
the total direct or indirect liabilities of any one obligor, whether or not 1231
fully secured and however incurred, to any community bank, exclusive 1232
of such bank's investment in the investment securities of such obligor, 1233
shall not exceed at the time incurred ten per cent of the equity capital 1234
and reserves for loan and lease losses of such bank, and (ii) the 1235
limitations set forth in subsection (a) of section 36a-262 shall apply to 1236
this subparagraph; and (D) the limitations set forth in subsection (a) of 1237
section 36a-263 shall apply to all community banks, provided, a 1238
community bank may (i) make a mortgage loan to any director or 1239
executive officer secured by premises occupied or to be occupied by 1240
such director or officer as a primary residence, (ii) make an educational 1241
loan to any director or executive officer for the education of any child of 1242
such director or executive officer, and (iii) extend credit to any director 1243
or executive officer in an amount not exceeding ten thousand dollars for 1244
extensions of credit not otherwise specifically authorized in this 1245
subparagraph. The aggregate amount of all loans or extensions of credit 1246
made by a community bank pursuant to this subparagraph shall not 1247
exceed thirty-three and one-third per cent of the equity capital and 1248
reserves for loan and lease losses of such bank. As used in this 1249
subparagraph, "executive officer" means every officer of a community 1250
bank who participates or has authority to participate, other than in the 1251
capacity of a director, in major policy-making functions of the bank, 1252
regardless of whether such officer has an official title or whether such 1253
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officer serves without salary or other compensation. The vice president, 1254
chief financial officer, secretary and treasurer of a community bank are 1255
presumed to be executive officers unless, by resolution of the governing 1256
board or by the bank's bylaws, any such officer is excluded from 1257
participation in major policy-making functions, other than in the 1258
capacity of a director of the bank, and such officer does not actually 1259
participate in major policy-making functions. 1260
(4) The audit and examination requirements set forth in section 36a-1261
86 shall apply to each community bank. 1262
(5) The commissioner may adopt regulations, in accordance with 1263
chapter 54, to administer the provisions of this subsection and section 1264
36a-139. 1265
(s) (1) As used in this subsection, "community development bank" 1266
means a Connecticut bank that is organized to serve the banking needs 1267
of a well-defined neighborhood, community or other geographic area as 1268
determined by the commissioner, primarily, but not exclusively, by 1269
making commercial loans in amounts of one hundred fifty thousand 1270
dollars or less to existing businesses or to persons seeking to establish 1271
businesses located within such neighborhood, community or 1272
geographic area. 1273
(2) One or more persons may organize a community development 1274
bank in accordance with the provisions of this section, except that 1275
subsection (g) of this section shall not apply. The approving authority 1276
for a community development bank shall be the commissioner acting 1277
alone. Any such community development bank shall commence 1278
business with a minimum equity capital det ermined by the 1279
commissioner to be appropriate for the proposed activities of such bank, 1280
provided, if such proposed activities include accepting deposits, such 1281
minimum equity capital shall be sufficient to enable such deposits to be 1282
insured by the Federal Deposit Insurance Corporation or its successor 1283
agency. 1284
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(3) The state, acting through the State Treasurer, may be the sole 1285
organizer of a community development bank or may participate with 1286
any other person or persons in the organization of any community 1287
development bank, and may own all or a part of any capital stock of 1288
such bank. No application fee shall be required under subparagraph (H) 1289
of subdivision (1) of subsection (d) of section 36a-65 and no franchise tax 1290
shall be required under subsection (o) of this section for any community 1291
development bank organized by or in participation with the state. 1292
(4) In addition to the considerations and determinations required by 1293
subsection (h) of this section, before granting a temporary certificate of 1294
authority to organize a community development bank, the approving 1295
authority shall determine that (A) each of the proposed directors and 1296
proposed executive officers possesses capacity and fitness for the duties 1297
and responsibilities with which such director or officer will be charged, 1298
and (B) there is satisfactory community support for the proposed 1299
community development bank based on evidence of such support 1300
provided by the organizers to the approving authority. If the approving 1301
authority cannot make such determination with respect to any such 1302
proposed director or proposed executive officer, the approving 1303
authority may refuse to allow such proposed director or proposed 1304
executive officer to serve in such capacity in the proposed community 1305
development bank. As used in this subdivision, "executive officer" 1306
means every officer of a community development bank who 1307
participates or has authority to participate, other than in the capacity of 1308
a director, in major policy-making functions of the bank, regardless of 1309
whether such officer has an official title or whether such officer serves 1310
without salary or other compensation. The vice president, chief financial 1311
officer, secretary and treasurer of a community development bank are 1312
presumed to be executive officers unless, by resolution of the governing 1313
board or by the bank's bylaws, any such officer is excluded from 1314
participation in major policy-making functions, other than in the 1315
capacity of a director of the bank, and such officer does not actually 1316
participate in major policy-making functions. 1317
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(5) Notwithstanding any contrary provision of this title: (A) The 1318
commissioner may limit the powers that may be exercised by a 1319
community development bank or impose conditions on the exercise by 1320
such bank of any power allowed by this title as the commissioner deems 1321
necessary in the interest of the public and for the safety and soundness 1322
of the community development bank, provided, any such limitations or 1323
conditions, or both, shall be set forth in the final certificate of authority 1324
issued in accordance with subsection (l) of this section; and (B) the 1325
commissioner may waive in writing any requirement imposed on a 1326
community development bank under this title or any regulation 1327
adopted under this title if the commissioner finds that such requirement 1328
is inconsistent with the powers that may be exercised by such 1329
community development bank under its final certificate of authority. 1330
(6) The commissioner may adopt regulations, in accordance with 1331
chapter 54, to carry out the provisions of this subsection. 1332
(t) (1) One or more persons may organize an [uninsured] innovation 1333
bank in accordance with the provisions of this section, except that 1334
subsection (g) of this section shall not apply. The approving authority 1335
for an [uninsured] innovation bank shall be the commissioner acting 1336
alone. Any such [uninsured] innovation bank shall commence business 1337
with a minimum equity capital of at least five million dollars unless the 1338
commissioner establishes a different minimum capital requirement for 1339
such [uninsured] innovation bank based upon its proposed activities. 1340
(2) An [uninsured] innovation bank shall have all of the powers of 1341
and be subject to all of the requirements and limitations applicable to a 1342
Connecticut bank under this title which are not inconsistent with this 1343
subsection, except no [uninsured] innovation bank may accept retail 1344
deposits and, notwithstanding any provision of this title, sections 36a-1345
30 to 36a-34, inclusive, do not apply to [uninsured] innovation banks. 1346
(3) (A) An [uninsured] innovation bank shall display conspicuously, 1347
at each window or other place where deposits are usually accepted, a 1348
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sign stating that deposits are not insured by the Federal Deposit 1349
Insurance Corporation or its successor agency. 1350
(B) An [uninsured] innovation bank shall either (i) include in boldface 1351
conspicuous type on each signature card, passbook, and instrument 1352
evidencing a deposit the following statement: "This deposit is not 1353
insured by the FDIC", or (ii) require each depositor to execute a 1354
statement that acknowledges that the initial deposit and all future 1355
deposits at the [uninsured] innovation bank are not insured by the 1356
Federal Deposit Insurance Corporation or its successor agency. The 1357
[uninsured] innovation bank shall retain such acknowledgment as long 1358
as the depositor maintains any deposit with the [uninsured] innovation 1359
bank. 1360
(C) An [uninsured] innovation bank shall include on all of its deposit-1361
related advertising a conspicuous statement that deposits are not 1362
insured by the Federal Deposit Insurance Corporation or its successor 1363
agency. 1364
(4) Notwithstanding any provision of this title, an innovation bank 1365
may accept and hold nonretail deposits, including, but not limited to, 1366
nonretail deposits received from a corporation that owns the majority of 1367
the shares of the innovation bank. An innovation bank may secure 1368
deposit insurance for such nonretail deposits, including from the 1369
Federal Deposit Insurance Corporation. 1370
(u) (1) Each trust bank and [uninsured] innovation bank shall keep 1371
assets on deposit in the amount of at least one million dollars with such 1372
banks as the commissioner may approve, provided a trust bank or 1373
[uninsured] innovation bank that received its final certificate of 1374
authority prior to May 12, 2004, shall keep assets on deposit as follows: 1375
At least two hundred fifty thousand dollars no later than one year from 1376
May 12, 2004, at least five hundred thousand dollars no later than two 1377
years from said date, at least seven hundred fifty thousand dollars no 1378
later than three years from said date and at least one million dollars no 1379
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later than four years from said date. No trust bank or [uninsured] 1380
innovation bank shall make a deposit pursuant to this section until the 1381
bank at which the assets are to be deposited and the trust bank or 1382
[uninsured] innovation bank shall have executed a deposit agreement 1383
satisfactory to the commissioner. The value of such assets shall be based 1384
upon the principal amount or market value, whichever is lower. If the 1385
commissioner determines that an asset that otherwise qualifies under 1386
this section shall be valued at less than the amount otherwise provided 1387
in this subdivision, the commissioner shall so notify the trust bank or 1388
[uninsured] innovation bank, which shall thereafter value such asset as 1389
directed by the commissioner. 1390
(2) As used in this subsection, "assets" means: (A) United States dollar 1391
deposits payable in the United States, other than certificates of deposit; 1392
(B) bonds, notes, debentures or other obligations of the United States or 1393
any agency or instrumentality thereof, or guaranteed by the United 1394
States, or of this state or of a county, city, town, village, school district, 1395
or instrumentality of this state or guaranteed by this state; (C) bonds, 1396
notes, debentures or other obligations issued by the Federal Home Loan 1397
Mortgage Corporation and the Federal National Mortgage Corporation; 1398
(D) commercial paper payable in dollars in the United States, provided 1399
such paper is rated in one of the three highest rating categories by a 1400
rating service recognized by the commissioner. In the event that an issue 1401
of commercial paper is rated by more than one recognized rating 1402
service, it shall be rated in one of the three highest rating categories by 1403
each such rating service; (E) negotiable certificates of deposit that are 1404
payable in the United States; (F) reserves held at a federal reserve bank; 1405
and (G) such other assets as determined by the commissioner upon 1406
written application. 1407
Sec. 17. Subsections (a) to (h), inclusive, of section 36a-139a of the 1408
general statutes are repealed and the following is substituted in lieu 1409
thereof (Effective July 1, 2024): 1410
(a) Any [uninsured] innovation bank or any trust bank may, upon the 1411
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approval of the commissioner, convert to a Connecticut bank that is 1412
authorized to accept retail deposits and operate without the limitations 1413
provided in subdivisions (2) and (3) of subsection (t) and subsection (u) 1414
of section 36a-70, as amended by this act, and subsection (b) of section 1415
36a-250. 1416
(b) The converting bank shall file with the commissioner a proposed 1417
plan of conversion, a copy of the proposed amended certificate of 1418
incorporation and a certificate by the secretary of the converting bank 1419
that the proposed plan of conversion and proposed amended certificate 1420
of incorporation have been approved in accordance with subsection (c) 1421
of this section. 1422
(c) The proposed plan of conversion and proposed amended 1423
certificate of incorporation shall require the approval of a majority of the 1424
governing board of the converting bank and the favorable vote of not 1425
less than two-thirds of the holders of each class of the converting 1426
[bank’s] bank's capital stock, if any, or in the case of a converting mutual 1427
bank, the corporators thereof, cast at a meeting called to consider such 1428
conversion. 1429
(d) Any shareholder of a capital stock Connecticut bank that proposes 1430
to convert under this section, who, on or before the date of the 1431
[shareholders’] shareholders' meeting to vote on such conversion, 1432
objects to the conversion by filing a written objection with the secretary 1433
of such bank may, within ten days after the effective date of such 1434
conversion, make written demand upon the bank for payment of such 1435
shareholder's stock. Any such shareholder that makes such objection 1436
and demand shall have the same rights as those of a shareholder that 1437
asserts appraisal rights with respect to the merger of two or more capital 1438
stock Connecticut banks. 1439
(e) The commissioner shall approve a conversion under this section 1440
if the commissioner determines that: (1) The converting bank has 1441
complied with all applicable provisions of law; (2) the converting bank 1442
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has equity capital of at least five million dollars; (3) the converting bank 1443
has received satisfactory ratings on its most recent safety and soundness 1444
examination; (4) the proposed conversion will serve the public necessity 1445
and convenience; and (5) the converting bank will provide adequate 1446
services to meet the banking needs of all community residents, 1447
including low-income residents and moderate-income residents to the 1448
extent permitted by its charter, in accordance with a plan submitted by 1449
the converting bank to the commissioner, in such form and containing 1450
such information as the commissioner may require. Upon receiving any 1451
such plan, the commissioner shall make the plan available for public 1452
inspection and comment at the Department of Banking and cause notice 1453
of its submission and availability for inspection and comment to be 1454
published in the department's weekly bulletin. With the concurrence of 1455
the commissioner, the converting bank shall publish, in the form of a 1456
legal advertisement in a newspaper having a substantial circulation in 1457
the area, notice of such plan's submission and availability for public 1458
inspection and comment. The notice shall state that the inspection and 1459
comment period will last for a period of thirty days from the date of 1460
publication. The commissioner shall not make such determination until 1461
the expiration of the thirty-day period. In making such determination, 1462
the commissioner shall, unless clearly inapplicable, consider, among 1463
other factors, whether the plan identifies specific unmet credit and 1464
consumer banking needs in the local community and specifies how such 1465
needs will be satisfied, provides for sufficient distribution of banking 1466
services among branches or satellite devices, or both, located in low-1467
income neighborhoods, contains adequate assurances that banking 1468
services will be offered on a nondiscriminatory basis and demonstrates 1469
a commitment to extend credit for housing, small business and 1470
consumer purposes in low-income neighborhoods. 1471
(f) After receipt of the commissioner's approval, the converting bank 1472
shall promptly file such approval and its amended certificate of 1473
incorporation with the Secretary of the State and with the town clerk of 1474
the town in which its principal office is located. Upon such filing, the 1475
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bank shall cease to be an [uninsured] innovation bank subject to the 1476
provisions of subdivisions (2) and (3) of subsection (t) and subsection 1477
(u) of section 36a-70, as amended by this act, or a trust bank, subject to 1478
the limitations provided in subsection (u) of section 36a-70, as amended 1479
by this act, and subsection (b) of section 36a-250, and shall be a 1480
Connecticut bank subject to all of the requirements and limitations and 1481
possessed of all rights, privileges and powers granted to it by its 1482
amended certificate of incorporation and by the provisions of the 1483
general statutes applicable to its type of Connecticut bank. Such 1484
Connecticut bank shall not commence business unless its insurable 1485
accounts and deposits are insured by the Federal Deposit Insurance 1486
Corporation or its successor agency. Upon such filing with the Secretary 1487
of the State and with the town clerk, all of the assets, business and good 1488
will of the converting bank shall be transferred to and vested in such 1489
Connecticut bank without any deed or instrument of conveyance, 1490
provided the converting bank may execute any deed or instrument of 1491
conveyance as is convenient to confirm such transfer. Such Connecticut 1492
bank shall be subject to all of the duties, relations, obligations, trusts and 1493
liabilities of the converting bank, whether as debtor, depository, 1494
registrar, transfer agent, executor, administrator or otherwise, and shall 1495
be liable to pay and discharge all such debts and liabilities, and to 1496
perform all such duties in the same manner and to the same extent as if 1497
the Connecticut bank had itself incurred the obligation or liability or 1498
assumed the duty or relation. All rights of creditors of the converting 1499
bank and all liens upon the property of such bank shall be preserved 1500
unimpaired and the Connecticut bank shall be entitled to receive, 1501
accept, collect, hold and enjoy any and all gifts, bequests, devises, 1502
conveyances, trusts and appointments in favor of or in the name of the 1503
converting bank and whether made or created to take effect prior to or 1504
after the conversion. 1505
(g) The persons named as directors in the amended certificate of 1506
incorporation shall be the directors of such Connecticut bank until the 1507
first annual election of directors after the conversion or until the 1508
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expiration of their terms as directors, and shall have the power to take 1509
all necessary actions and to adopt bylaws concerning the business and 1510
management of such Connecticut bank. 1511
(h) No such Connecticut bank resulting from the conversion of an 1512
[uninsured] innovation bank may exercise any of the fiduciary powers 1513
granted to Connecticut banks by law until express authority therefor has 1514
been given by the commissioner, unless such authority was previously 1515
granted to the converting bank. 1516
Sec. 18. Subsections (a) to (g), inclusive, of section 36a-139b of the 1517
general statutes are repealed and the following is substituted in lieu 1518
thereof (Effective July 1, 2024): 1519
(a) Any Connecticut bank may, upon the approval of the 1520
commissioner, convert to an [uninsured] innovation bank. 1521
(b) The converting bank shall file with the commissioner a proposed 1522
plan of conversion, a copy of the proposed amended certificate of 1523
incorporation and a certificate by the secretary of the converting bank 1524
that the proposed plan of conversion and proposed certificate of 1525
incorporation have been approved in accordance with subsection (c) of 1526
this section. 1527
(c) The proposed plan of conversion and proposed amended 1528
certificate of incorporation shall require the approval of a majority of the 1529
governing board of the converting bank and the favorable vote of not 1530
less than two-thirds of the holders of each class of the [bank’s] bank's 1531
capital stock, if any, or, in the case of a mutual bank, the corporators 1532
thereof, cast at a meeting called to consider such conversion. 1533
(d) Any shareholder of a converting capital stock Connecticut bank 1534
that proposes to convert to an [uninsured] innovation bank who, on or 1535
before the date of the [shareholders’] shareholders' meeting to vote on 1536
such conversion, objects to the conversion by filing a written objection 1537
with the secretary of such bank may, within ten days after the effective 1538
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date of such conversion, make written demand upon the converted bank 1539
for payment of such [shareholder’s] shareholder's stock. Any such 1540
shareholder that makes such objection and demand shall have the same 1541
rights as those of a shareholder who dissents from the merger of two or 1542
more capital stock Connecticut banks. 1543
(e) If applicable, a converting Connecticut bank shall liquidate all of 1544
its retail deposits with the approval of the commissioner. The converting 1545
bank shall file with the commissioner a written notice of its intent to 1546
liquidate all of its retail deposits together with a plan of liquidation and 1547
a proposed notice to depositors approved and executed by a majority of 1548
its governing board. The commissioner shall approve the plan and the 1549
notice to depositors. The commissioner shall not approve a sale of the 1550
retail deposits of the converting bank if the purchasing insured 1551
depository institution, including all insured depository institutions 1552
which are affiliates of such institution, upon consummation of the sale, 1553
would control thirty per cent or more of the total amount of deposits of 1554
insured depository institutions in this state, unless the commissioner 1555
permits a greater percentage of such deposits. The converting and 1556
purchasing institutions shall file with the commissioner a written 1557
agreement approved and executed by a majority of the governing board 1558
of each institution prescribing the terms and conditions of the 1559
transaction. 1560
(f) The commissioner shall approve a conversion under this section if 1561
the commissioner determines that: (1) The converting bank has 1562
complied with all applicable provisions of law; (2) the converting bank 1563
has equity capital of at least five million dollars unless the commissioner 1564
establishes a different minimum capital requirement based on the 1565
proposed activities of the converting bank; (3) the converting bank has 1566
liquidated all of its retail deposits, if any, and has no deposits that are 1567
insured by the Federal Deposit Insurance Corporation or its successor 1568
agency; and (4) the proposed conversion will serve the public necessity 1569
and convenience. The commissioner shall not approve such conversion 1570
unless the commissioner considers the findings of the most recent state 1571
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or federal safety and soundness examination of the converting bank, 1572
and the effect of the proposed conversion on the financial resources and 1573
future prospects of the converting bank. 1574
(g) After receipt of the [commissioner’s] commissioner's approval for 1575
the conversion, the converting bank shall promptly file such approval 1576
and its certificate of incorporation with the Secretary of the State and 1577
with the town clerk of the town in which its principal office is located. 1578
Upon such filing, the converted Connecticut bank shall not accept retail 1579
deposits and shall be an [uninsured] innovation bank, subject to the 1580
limitations in subdivisions (2) and (3) of subsection (t) and subsection 1581
(u) of section 36a-70, as amended by this act. Upon such conversion, the 1582
converted Connecticut bank possesses all of the rights, privileges and 1583
powers granted to it by its certificate of incorporation and by the 1584
provisions of the general statutes applicable to its type of Connecticut 1585
bank, and all of the assets, business and good will of the converting bank 1586
shall be transferred to and vested in the converted Connecticut bank 1587
without any deed or instrument of conveyance, provided the converting 1588
bank may execute any deed or instrument of conveyance as is 1589
convenient to confirm such transfer. The converted Connecticut bank 1590
shall be subject to all of the duties, relations, obligations, trusts and 1591
liabilities of the converting bank, whether as debtor, depository, 1592
registrar, transfer agent, executor, administrator or otherwise, and shall 1593
be liable to pay and discharge all such debts and liabilities, and to 1594
perform all such duties in the same manner and to the same extent as if 1595
the converted bank had itself incurred the obligation or liability or 1596
assumed the duty or relation. All rights of creditors of the converting 1597
bank and all liens upon the property of such bank shall be preserved 1598
unimpaired and the [uninsured] innovation bank shall be entitled to 1599
receive, accept, collect, hold and enjoy any and all gifts, bequests, 1600
devises, conveyances, trusts and appointments in favor of or in the 1601
name of the converting bank and whether made or created to take effect 1602
prior to or after the conversion. 1603
Sec. 19. Section 36a-215 of the general statutes is repealed and the 1604
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following is substituted in lieu thereof (Effective July 1, 2024): 1605
If, in the opinion of the commissioner, a trust bank, or an [uninsured] 1606
innovation bank, in danger of becoming insolvent, is not likely to be able 1607
to meet the demands of its depositors, in the case of an [uninsured] 1608
innovation bank, or pay its obligations in the normal course of business, 1609
or is likely to incur losses that may deplete all or substantially all of its 1610
capital, the commissioner may require such trust bank or [uninsured] 1611
innovation bank to increase the assets kept on deposit as required by 1612
subsection (u) of section 36a-70, as amended by this act, to an amount 1613
that would be sufficient to meet the costs and expenses incurred by the 1614
commissioner pursuant to section 36a-222 and all fees and assessments 1615
due the commissioner. Such assets shall be deposited with such bank as 1616
the commissioner may designate, and shall be in such form and subject 1617
to such conditions as the commissioner deems necessary. 1618
Sec. 20. Subsection (a) of section 36a-220 of the general statutes is 1619
repealed and the following is substituted in lieu thereof (Effective July 1, 1620
2024): 1621
(a) If it appears to the commissioner that (1) the charter of any 1622
Connecticut bank or out-of-state bank that maintains in this state a 1623
branch, as defined in section 36a-410, or the certificate of authority of 1624
any Connecticut credit union or out-of-state credit union that maintains 1625
in this state a branch, as defined in section 36a-435b, is forfeited, (2) the 1626
public is in danger of being defrauded by such bank or credit union, it 1627
is unsafe or unsound for such bank or credit union to continue business 1628
or its assets are being dissipated, (3) such bank or credit union is 1629
insolvent, is in danger of imminent insolvency or that its capital is not 1630
adequate to support the level of risk, or (4) the Federal Deposit 1631
Insurance Corporation, National Credit Union Administration or their 1632
successor agencies have terminated insurance of the insurable accounts 1633
or deposits of such bank, unless such Connecticut bank has filed an 1634
application with the commissioner to convert to an [uninsured] 1635
innovation bank pursuant to section 36a-139b, as amended by this act, 1636
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or credit union, the commissioner shall apply to the superior court for 1637
the judicial district of Hartford or the judicial district in which the main 1638
office of such bank or credit union is located for an injunction restraining 1639
such bank or credit union from conducting business or, in the case of a 1640
Connecticut bank or Connecticut credit union, for the appointment of a 1641
conservator or for a receiver to wind up its affairs. 1642
Sec. 21. Subsections (a) to (c), inclusive, of section 36a-221a of the 1643
general statutes are repealed and the following is substituted in lieu 1644
thereof (Effective July 1, 2024): 1645
(a) (1) The receiver of a trust bank or [uninsured] innovation bank 1646
shall, as soon after the receiver's appointment as is practicable, 1647
terminate all fiduciary positions the bank holds, surrender all property 1648
held by the bank as a fiduciary and settle the fiduciary accounts. With 1649
the approval of the Superior Court, the receiver of a trust bank or 1650
[uninsured] innovation bank shall release all segregated and identifiable 1651
fiduciary property held by the bank to one or more successor fiduciaries, 1652
and may sell one or more fiduciary accounts to one or more successor 1653
fiduciaries on terms that appear to be in the best interest of the bank's 1654
estate and the persons interested in the property or fiduciary accounts. 1655
(2) Upon the sale or transfer of fiduciary property or a fiduciary 1656
account, the successor fiduciary shall be automatically substituted 1657
without further action and without any order of any court. Prior to the 1658
effective date of substitution of the successor fiduciary, the receiver shall 1659
mail notice of such substitution to each person to whom such bank 1660
provides periodic reports of fiduciary activity. The notice shall include: 1661
(A) The name of such bank, (B) the name of the successor fiduciary, and 1662
(C) the effective date of the substitution of the successor fiduciary. The 1663
provisions of section 45a-245a shall not apply to the substitution of a 1664
fiduciary under this section. 1665
(b) A successor fiduciary shall have all of the rights, powers, duties 1666
and obligations of such bank and shall be deemed to be named, 1667
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nominated or appointed as fiduciary in any will, trust, court order or 1668
similar written document or instrument that names, nominates or 1669
appoints such bank as fiduciary, whether executed before or after the 1670
successor fiduciary is substituted, provided the successor fiduciary shall 1671
have no obligations or liabilities under this section for any acts, actions, 1672
inactions or events occurring prior to the effective date of the 1673
substitution. 1674
(c) If commingled fiduciary money held by the trust bank or 1675
[uninsured] innovation bank as trustee is insufficient to satisfy all 1676
fiduciary claims to the commingled money, the receiver shall distribute 1677
such money pro rata to all fiduciary claimants of such money based on 1678
their proportionate interest. 1679
Sec. 22. Section 36a-225 of the general statutes is repealed and the 1680
following is substituted in lieu thereof (Effective July 1, 2024): 1681
(a) The Superior Court, upon appointing a receiver of any 1682
Connecticut bank, other than a trust bank or an [uninsured] innovation 1683
bank, or Connecticut credit union, shall limit the time within which all 1684
claims against the bank or credit union may be presented to the receiver, 1685
and the court may, upon cause shown, extend such time and shall cause 1686
such public notice of such limitation or extension of time to be given as 1687
it deems reasonable and just. All claims not presented to the receiver 1688
within the period limited shall be forever barred, except that any claim 1689
for a deposit or share account, as shown by the depositor's or share 1690
account holder's passbook, certificate of deposit, statement or other 1691
evidence of deposit or the records of such bank or credit union, shall be 1692
allowed by the receiver. 1693
(b) (1) As soon as reasonably practicable after appointment of a 1694
receiver of a trust bank or an [uninsured] innovation bank, the receiver 1695
shall publish notice, in a newspaper of general circulation in each town 1696
in which an office of such bank is located, stating that: (A) The bank has 1697
been placed in receivership; (B) the depositors, clients and creditors are 1698
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required to present their claims for payment on or before a specific date 1699
and at a specified place; and (C) all safe deposit box holders and bailors 1700
of property left with the bank are required to remove their property no 1701
later than a specified date. The dates that the receiver selects may not be 1702
earlier than the one hundred twenty-first day after the date of the notice, 1703
and shall allow: (i) The affairs of the bank to be wound up as quickly as 1704
feasible; and (ii) depositors, clients, creditors, safe deposit box holders 1705
and bailors of property adequate time for presentation of claims, 1706
withdrawal of accounts, and redemption of property. The receiver may 1707
adjust the dates with the approval of the court and with or without 1708
republication of notice if the receiver determines that additional time is 1709
needed for any such presentation, withdrawal or redemption. 1710
(2) As soon as reasonably practicable, given the state of the [bank’s] 1711
bank's records and the adequacy of staffing, the receiver shall mail to 1712
each of the [bank’s] bank's known depositors, clients, creditors, safe 1713
deposit box holders and bailors of property left with the bank, at the 1714
mailing address shown on the [bank’s] bank's records, an individual 1715
notice containing the information required in the notice provided in 1716
subdivision (1) of this subsection, and specific information pertinent to 1717
the account or property of the addressee. The receiver of a trust bank or 1718
[uninsured] innovation bank may require a fiduciary claimant to file a 1719
proof of claim if the records of such bank are insufficient to identify the 1720
[claimant’s] claimant's interest. 1721
Sec. 23. Subsection (a) of section 36a-226a of the general statutes is 1722
repealed and the following is substituted in lieu thereof (Effective July 1, 1723
2024): 1724
(a) A contract between a trust bank or [uninsured] innovation bank 1725
in receivership and another person for bailment, of deposit for hire, or 1726
for the lease of a safe, vault or safe deposit box terminates on the date 1727
specified for removal of property in the notices that were published and 1728
mailed in accordance with section 36a-225, as amended by this act, or a 1729
later date approved by the receiver or the Superior Court. A person who 1730
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has paid rental or storage charges for a period extending beyond the 1731
date designated for removal of property has a claim against such bank's 1732
estate for a refund of the unearned amount paid. 1733
Sec. 24. Subsections (a) and (b) of section 36a-237 of the general 1734
statutes are repealed and the following is substituted in lieu thereof 1735
(Effective July 1, 2024): 1736
(a) The assets of any Connecticut bank, other than a trust bank or 1737
[uninsured] innovation bank, in the possession of a receiver shall be 1738
distributed in the following order of priority: (1) All fees and 1739
assessments due the commissioner; (2) the charges and expenses of 1740
settling such bank's affairs; (3) all deposits; (4) all other liabilities; (5) any 1741
liquidation account; and (6) in the case of a capital stock Connecticut 1742
bank, the claims of shareholders or, in the case of a mutual savings bank 1743
or mutual savings and loan association, the claims of depositors in 1744
proportion to their respective deposits. 1745
(b) (1) The assets of a trust bank or an [uninsured] innovation bank 1746
shall be distributed in the following order of priority: (A) All fees and 1747
assessments due the commissioner; (B) administrative expenses; (C) 1748
approved claims of owners of secured trust funds on deposit to the 1749
extent of the value of the security as provided in subsection (d) of section 1750
36a-237f, as amended by this act; (D) approved claims of secured 1751
creditors to the extent of the value of the security as provided in 1752
subsection (d) of section 36a-237f, as amended by this act; (E) approved 1753
claims by beneficiaries of insufficient commingled fiduciary money or 1754
missing fiduciary property and approved claims of clients of the trust 1755
bank or [uninsured] innovation bank; (F) other approved claims of 1756
depositors and general creditors not falling within a higher priority 1757
under this subdivision, including unsecured claims for taxes and debts 1758
due the federal government or a state or local government; (G) 1759
approved claims of a type described by subparagraphs (A) to (F), 1760
inclusive, of this subdivision that were not filed within the period 1761
prescribed by sections 36a-215 to 36a-239, inclusive, as amended by this 1762
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act; and (H) claims of capital note or debenture holders or holders of 1763
similar obligations and proprietary claims of shareholders or other 1764
owners according to the terms established by issue, class or series. 1765
(2) As used in this subsection, "administrative expense" means (A) 1766
any expense designated as an administrative expense by sections 36a-1767
231 and 36a-237h, as amended by this act; (B) any charge or expense of 1768
settling the affairs of the bank, including court costs and expenses of 1769
operation and liquidation of the bank's estate; (C) wages owed to an 1770
employee of the bank for services rendered within three months before 1771
the date the bank was placed in receivership and not exceeding two 1772
thousand dollars to each employee; (D) current wages owed to an 1773
employee of the bank whose services are retained by the receiver for 1774
services rendered after the date the bank is placed in receivership; and 1775
(E) an unpaid expense of supervision or conservatorship of the bank 1776
before it was placed in receivership. 1777
Sec. 25. Section 36a-237f of the general statutes is repealed and the 1778
following is substituted in lieu thereof (Effective July 1, 2024): 1779
(a) To receive payment of a claim against the estate of a trust bank or 1780
[uninsured] innovation bank in receivership, a person who has a claim, 1781
other than a shareholder acting in that capacity, including a claimant 1782
with a secured claim or a fiduciary claimant ordered by the receiver to 1783
file a proof of claim under subdivision (2) of subsection (b) of section 1784
36a-225, as amended by this act, shall present proof of the claim to the 1785
receiver at a place specified by the receiver, within the period specified 1786
by the receiver. Receipt of the required proof of claim by the receiver is 1787
a condition precedent to the payment of the claim. A claim that is not 1788
filed within the period or at the place specified by the receiver may not 1789
participate in a distribution of the assets by the receiver, except that, 1790
subject to court approval, the receiver may accept a claim filed not later 1791
than the one-hundred-eightieth day after the date notice of the 1792
claimant's right to file a proof of claim is mailed to the claimant, 1793
provided such claim shall be subordinate to an approved claim of a 1794
Bill No.
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general creditor. Interest does not accrue on any claim after the date the 1795
bank is placed in receivership. The provisions of this subsection shall 1796
not apply to a fiduciary claimant or depositor where the records of the 1797
bank in receivership are sufficient to identify the fiduciary claimant's or 1798
depositor's interest. 1799
(b) (1) The proof of claim against a trust bank or an [uninsured] 1800
innovation bank shall be in writing, be signed by the claimant, and 1801
include: (A) A statement of the claim; (B) a description of the 1802
consideration for the claim; (C) a statement of whether collateral is held 1803
or a security interest is asserted against the claim and, if so, a description 1804
of the collateral or security interest; (D) a statement of any right of 1805
priority of payment for the claim or other specific right asserted by the 1806
claimant; (E) a statement of whether a payment has been made on the 1807
claim and, if so, the amount and source of the payment, to the extent 1808
known by the claimant; (F) a statement that the amount claimed is justly 1809
owed by the bank to the claimant; and (G) any other matter that is 1810
required by the Superior Court. 1811
(2) The receiver may designate the form of the proof of claim. A proof 1812
of claim shall be filed under oath unless the oath is waived by the 1813
receiver. If a claim is founded on a written instrument, the original 1814
instrument, unless lost or destroyed, shall be filed with the proof of 1815
claim. After the instrument is filed, the receiver may permit the claimant 1816
to substitute a copy of the instrument until the final disposition of the 1817
claim. If the instrument is lost or destroyed, a statement of that fact and 1818
of the circumstances of the loss or destruction shall be filed under oath 1819
with the claim. 1820
(c) A judgment against a trust bank or [uninsured] innovation bank 1821
in receivership taken by default or by collusion before the date the bank 1822
was placed in receivership may not be considered as conclusive 1823
evidence of the liability of the bank to the judgment creditor or of the 1824
amount of damages to which the judgment creditor is entitled. A 1825
judgment against the bank entered after the date the bank was placed in 1826
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receivership may not be considered as evidence of liability or of the 1827
amount of damages. 1828
(d) (1) The owner of secured trust funds on deposit may file a claim 1829
as a creditor against a trust bank or [uninsured] innovation bank in 1830
receivership. The value of the security shall be determined under 1831
supervision of the Superior Court by converting the security into 1832
money. 1833
(2) The owner of a secured claim against a trust bank or [uninsured] 1834
innovation bank in receivership may surrender the security and file a 1835
claim as a general creditor or apply the security to the claim and 1836
discharge the claim. 1837
(3) If the owner applies the security and discharges the claim under 1838
subdivision (2) of this subsection, any deficiency shall be treated as a 1839
claim against the general assets of the bank on the same basis as a claim 1840
of an unsecured creditor. The amount of the deficiency shall be 1841
determined as provided by subsection (e) of this section, except that if 1842
the amount of the deficiency has been adjudicated by a court in a 1843
proceeding in which the receiver has had notice and an opportunity to 1844
be heard, the court's decision is conclusive as to the amount. 1845
(4) The value of security held by a secured creditor shall be 1846
determined under supervision of the court by converting the security 1847
into money according to the terms of the agreement under which the 1848
security was delivered to the creditor or by agreement, arbitration, 1849
compromise or litigation between the creditor and the receiver. 1850
(e) (1) A claim against a trust bank or [uninsured] innovation bank in 1851
receivership based on an unliquidated or undetermined demand shall 1852
be filed within the period for the filing of the claim. The claim may not 1853
share in any distribution to claimants until the claim is definitely 1854
liquidated, determined and allowed. After the claim is liquidated, 1855
determined and allowed, the claim shares ratably with the claims of the 1856
same class in all subsequent distributions. 1857
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(2) If the receiver in all other respects is in a position to close the 1858
receivership proceeding, the proposed closing is sufficient grounds for 1859
the rejection of any remaining claim based on an unliquidated or 1860
undetermined demand. The receiver shall notify the claimant of the 1861
intention to close the proceeding. If the demand is not liquidated or 1862
determined before the sixty-first day after the date of the notice, the 1863
receiver may reject the claim. 1864
(3) For the purposes of this subsection, a demand is considered 1865
unliquidated or undetermined if the right of action on the demand 1866
accrued while the trust bank or [uninsured] innovation bank was placed 1867
in receivership and the liability on the demand has not been determined 1868
or the amount of the demand has not been liquidated. 1869
(f) (1) Mutual credits and mutual debts shall be set off and only the 1870
balance allowed or paid, except that a set-off may not be allowed in 1871
favor of a person if: (A) The obligation of a trust bank or [uninsured] 1872
innovation bank to the person on the date the bank was placed in 1873
receivership did not entitle the person to share as a claimant in the assets 1874
of the bank; (B) the obligation of the bank to the person was purchased 1875
by or transferred to the person after the date the bank was placed in 1876
receivership or for the purpose of increasing set-off rights; or (C) the 1877
obligation of the person or the bank is as a trustee or fiduciary. 1878
(2) Upon request, the receiver shall provide a person with an 1879
accounting statement identifying each debt that is due and payable. A 1880
person who owes a trust bank or [uninsured] innovation bank an 1881
amount that is due and payable against which the person asserts set-off 1882
of mutual credits that may become due and payable from the bank in 1883
the future shall promptly pay to the receiver the amount due and 1884
payable. The receiver shall promptly refund, to the extent of the person's 1885
prior payment, mutual credits that become due and payable to the 1886
person by the bank in receivership. 1887
(g) (1) Not later than six months after the last day permitted for the 1888
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filing of claims or a later date allowed by the Superior Court, the receiver 1889
shall accept or reject in whole or in part each claim filed against a trust 1890
bank or an [uninsured] innovation bank in receivership, except for an 1891
unliquidated or undetermined claim governed by subsection (e) of this 1892
section. The receiver shall reject a claim if the receiver doubts its validity. 1893
(2) The receiver shall mail written notice to each claimant, specifying 1894
the disposition of the person's claim. If a claim is rejected in whole or in 1895
part, the receiver in the notice shall specify the basis for rejection and 1896
advise the claimant of the procedures and deadline for appeal. 1897
(3) The receiver shall send each claimant a summary schedule of 1898
approved and rejected claims by priority class and notify the claimant: 1899
(A) That a copy of a schedule of claims disposition, including only the 1900
name of the claimant, the amount of the claim allowed, and the amount 1901
of the claim rejected, is available upon request; and (B) of the procedure 1902
and deadline for filing an objection to an approved claim. 1903
(h) The receiver of a trust bank or [uninsured] innovation bank, with 1904
the approval of the superior court, shall set a deadline for an objection 1905
to an approved claim. On or before that date, a depositor, creditor, other 1906
claimant or shareholder of a trust bank or [uninsured] innovation bank 1907
may file an objection to an approved claim. The objection shall be heard 1908
and determined by the court. If the objection is sustained, the court shall 1909
direct an appropriate modification of the schedule of claims. 1910
(i) The receiver's rejection of a claim may be appealed to the superior 1911
court in which the receivership proceeding of a trust bank or 1912
[uninsured] innovation bank is pending. The appeal shall be filed within 1913
three months after the date of service of notice of the rejection. If the 1914
appeal is timely filed, review is de novo as if it were an action originally 1915
filed in the court, and is subject to the rules of procedure and appeal 1916
applicable to civil cases. An action to appeal rejection of a claim by the 1917
receiver is separate from the receivership proceeding, and may not be 1918
initiated by a claimant intervening in the receivership proceeding. If the 1919
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action is not timely filed, the action of the receiver is final and not subject 1920
to review. 1921
(j) (1) The commissioner shall deposit all money available for the 1922
benefit of persons who have not filed a claim and are, according to the 1923
bank's records, depositors and creditors of a trust bank or [uninsured] 1924
innovation bank in receivership in a bank, Connecticut credit union, 1925
federal credit union, out-of-state bank that maintains in this state a 1926
branch, as defined in section 36a-410, or out-of-state credit union that 1927
maintains in this state a branch, as defined in section 36a-435b. The 1928
commissioner shall pay the nonclaiming depositors and creditors on 1929
demand the undisputed amount, based on the bank's records, held for 1930
their benefit. 1931
(2) The receiver may periodically make a partial distribution to the 1932
holders of approved claims if: (A) All objections have been heard and 1933
decided as provided by subsection (h) of this section; (B) the time for 1934
filing appeals has expired as provided by subsection (i) of this section; 1935
(C) money has been made available to provide for the payment of all 1936
nonclaiming depositors and creditors in accordance with subdivision (1) 1937
of this subsection; and (D) a proper reserve is established for the pro rata 1938
payment of: (i) Rejected claims that have been appealed, and (ii) any 1939
claims based on unliquidated or undetermined demands governed by 1940
subsection (e) of this section. 1941
(3) As soon as practicable after all objections, appeals and claims 1942
based on previously unliquidated or undetermined demands governed 1943
by subsection (e) of this section have been determined and money has 1944
been made available to provide for the payment of all nonclaiming 1945
depositors and creditors in accordance with subdivision (1) of this 1946
subsection, the receiver shall distribute the assets of a trust bank or 1947
[uninsured] innovation bank in satisfaction of approved claims other 1948
than claims asserted in a person's capacity as a shareholder. 1949
Sec. 26. Section 36a-237g of the general statutes is repealed and the 1950
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following is substituted in lieu thereof (Effective July 1, 2024): 1951
(a) All fiduciary records relating to the administration of fiduciary 1952
accounts of a trust bank or [uninsured] innovation bank shall be turned 1953
over to the successor fiduciary, as defined in section 45a-245a, in charge 1954
of administration of the accounts. The receiver may devise a method for 1955
the effective, efficient and economical maintenance of all other records 1956
of the trust bank or [uninsured] innovation bank and of the receiver's 1957
office. 1958
(b) On approval by the Superior Court, the receiver may dispose of 1959
records of the trust bank or [uninsured] innovation bank in receivership 1960
that are obsolete and unnecessary to the continued administration of the 1961
receivership proceeding. 1962
Sec. 27. Subsections (a) to (c), inclusive, of section 36a-237h of the 1963
general statutes are repealed and the following is substituted in lieu 1964
thereof (Effective July 1, 2024): 1965
(a) Persons entitled to protection under this section shall be: (1) All 1966
receivers or conservators of trust banks or [uninsured] innovation 1967
banks, including present and former receivers and conservators; and (2) 1968
the employees of such receivers or conservators. Attorneys, 1969
accountants, auditors and other professional persons or firms who are 1970
retained by the receiver or conservator as independent contractors, and 1971
their employees, shall not be considered employees of the receiver or 1972
conservator for purposes of this section. 1973
(b) The receiver or conservator and the employees of the receiver or 1974
conservator shall be immune from suit and liability, both personally and 1975
in their official capacities, for any claim for damage to or loss of 1976
property, personal injury or other civil liability caused by or resulting 1977
from any alleged act, error or omission of the receiver or conservator or 1978
any employee arising out of or by reason of their duties or employment, 1979
provided nothing in this section shall be construed to hold the receiver 1980
or conservator or any employee immune from suit or liability for any 1981
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damage, loss, injury or liability caused by the intentional or wilful and 1982
wanton misconduct of the receiver or conservator or any employee. 1983
(c) (1) If any legal action is commenced against the receiver or 1984
conservator or any employee, whether personally or in such person's 1985
official capacity, alleging property damage, property loss, personal 1986
injury or other civil liability caused by or resulting from any alleged act, 1987
error or omission of the receiver or conservator or any employee arising 1988
out of or by reason of their duties or employment, the receiver or 1989
conservator and any employee shall be indemnified from the assets of 1990
the trust bank or [uninsured] innovation bank for all expenses, 1991
attorneys' fees, judgments, settlements, decrees or amounts due and 1992
owing or paid in satisfaction of or incurred in the defense of such legal 1993
action unless it is determined upon a final adjudication on the merits 1994
that the alleged act, error or omission of the receiver or conservator or 1995
employee giving rise to the claim did not arise out of or by reason of 1996
such person's duties or employment, or was caused by intentional or 1997
wilful and wanton misconduct. 1998
(2) Attorneys' fees and any related expenses incurred in defending a 1999
legal action for which immunity or indemnity is available under this 2000
section shall be paid from the assets of the trust bank or [uninsured] 2001
innovation bank, as they are incurred, in advance of the final disposition 2002
of such action upon receipt of an undertaking by or on behalf of the 2003
receiver or conservator or employee to repay the attorneys' fees and 2004
expenses if it shall ultimately be determined upon a final adjudication 2005
on the merits that the receiver or conservator or employee is not entitled 2006
to immunity or indemnity under this section. 2007
(3) Any indemnification for expense payments, judgments, 2008
settlements, decrees, attorneys' fees, surety bond premiums or other 2009
amounts paid or to be paid from the assets of the trust bank or 2010
[uninsured] innovation bank pursuant to this section shall be an 2011
administrative expense of the receivership or conservatorship. 2012
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(4) In the event of any actual or threatened litigation against a receiver 2013
or conservator or any employee for which immunity or indemnity may 2014
be available under this section, a reasonable amount of funds, which in 2015
the judgment of the receiver or conservator may be needed to provide 2016
immunity or indemnity, shall be segregated and reserved from the 2017
assets of the trust bank or [uninsured] innovation bank as security for 2018
the payment of indemnity until such time as all applicable statutes of 2019
limitation shall have run and all actual or threatened actions against the 2020
receiver or conservator or any employee have been completely and 2021
finally resolved, and all obligations of the trust bank or [uninsured] 2022
innovation bank and the commissioner under this section shall have 2023
been satisfied. 2024
(5) In lieu of segregation and reserving of funds, the receiver or 2025
conservator may, in the receiver's or conservator's discretion, obtain a 2026
surety bond or make other arrangements that will enable the receiver or 2027
conservator to fully secure the payment of all obligations under this 2028
section. 2029
Sec. 28. Subdivision (2) of subsection (a) of section 36a-333 of the 2030
general statutes is repealed and the following is substituted in lieu 2031
thereof (Effective July 1, 2024): 2032
(2) Notwithstanding the provisions of subdivisions (1) and (3) of this 2033
subsection, to secure public deposits, each qualified public depository 2034
that (A) has been conducting business in this state for a period of less 2035
than two years, except for a depository that is a successor institution to 2036
a depository which conducted business in this state for two years or 2037
more, or (B) is an [uninsured] innovation bank, shall at all times 2038
maintain, segregated from its other assets as required under subsection 2039
(b) of this section, eligible collateral in an amount not less than one 2040
hundred twenty per cent of all uninsured public deposits held by the 2041
depository. 2042
Sec. 29. Section 36a-609 of the 2024 supplement to the general statutes 2043
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is repealed and the following is substituted in lieu thereof (Effective July 2044
1, 2024): 2045
The provisions of sections 36a-597 to 36a-607, inclusive, and sections 2046
36a-611 and 36a-612 shall not apply to: 2047
(1) Any federally insured federal bank, out-of-state bank, Connecticut 2048
bank, Connecticut credit union, federal credit union or out-of-state 2049
credit union, provided such institution does not engage in the business 2050
of money transmission in this state through any person who is not (A) a 2051
federally insured federal bank, out-of-state bank, Connecticut bank, 2052
Connecticut credit union, federal credit union or out-of-state credit 2053
union, (B) a person licensed pursuant to sections 36a-595 to 36a-612, 2054
inclusive, or an authorized delegate acting on behalf of such licensed 2055
person, or (C) a person exempt pursuant to subdivisions (2) to (4), 2056
inclusive, of this section; 2057
(2) Any Connecticut bank that is an [uninsured] innovation bank 2058
organized pursuant to subsection (t) of section 36a-70, as amended by 2059
this act; 2060
(3) The United States Postal Service and any contractor that engages 2061
in the business of money transmission in this state on behalf of the 2062
United States Postal Service; and 2063
(4) A person whose activity is limited to the electronic funds transfer 2064
of governmental benefits for or on behalf of a federal, state or other 2065
governmental agency, quasi-governmental agency or government 2066
sponsored enterprise. 2067
Sec. 30. (Effective from passage) In the case of any underpayment of tax 2068
by a taxpayer under chapter 208, 228z or 229 of the general statutes, no 2069
interest shall be imposed under such chapters to the extent such 2070
underpayment was due to the filing of an amended return necessitated 2071
by guidance issued by the Internal Revenue Service concerning the 2072
federal employee retention credit program. If such interest has already 2073
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been paid to the Department of Revenue Services, the Commissioner of 2074
Revenue Services shall treat such payment as an overpayment and shall 2075
refund the amount of such payment, without interest, to the taxpayer. 2076
Sec. 31. Section 38a-48 of the general statutes, as amended by section 2077
6 of public act 24-138, is repealed and the following is substituted in lieu 2078
thereof (Effective October 1, 2025): 2079
(a) On or before June thirtieth, annually, the Commissioner of 2080
Revenue Services shall render to the Insurance Commissioner a 2081
statement certifying the total amount of taxes [or charges imposed on] 2082
reported to the Commissioner of Revenue Services on returns filed with 2083
said commissioner by each domestic insurance company or other 2084
domestic entity under chapter 207 on business done in this state during 2085
the [preceding calendar year. The statement for local domestic insurance 2086
companies shall set forth the amount of taxes and charges before any tax 2087
credits allowed as provided in subsection (a) of section 12-202] calendar 2088
year immediately preceding the prior calendar year. For purposes of 2089
preparing the annual statement under this subsection, the total amount 2090
of taxes required to be set forth in such statement shall be the amount of 2091
tax reported by each domestic insurance company or other domestic 2092
entity under chapter 207 to the Commissioner of Revenue Services prior 2093
to the application of any credits allowable or available under law to each 2094
such domestic insurance company or other domestic entity under 2095
chapter 207. 2096
(b) On or before July thirty-first, annually, the Insurance 2097
Commissioner shall render to each domestic insurance company or 2098
other domestic entity liable for payment under section 38a-47: 2099
(1) A statement that includes (A) the amount appropriated to the 2100
Insurance Department, the Office of the Healthcare Advocate and the 2101
Office of Health Strategy from the Insurance Fund established under 2102
section 38a-52a for the fiscal year beginning July first of the same year, 2103
(B) the cost of fringe benefits for department and office personnel for 2104
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such year, as estimated by the Comptroller, (C) the estimated 2105
expenditures on behalf of the department and the offices from the 2106
Capital Equipment Purchase Fund pursuant to section 4a-9 for such 2107
year, not including such estimated expenditures made on behalf of the 2108
Health Systems Planning Unit of the Office of Health Strategy, and (D) 2109
the amount appropriated to the Department of Aging and Disability 2110
Services for the fall prevention program established in section 17a-859 2111
from the Insurance Fund for the fiscal year; 2112
(2) [a] A statement of the total amount of taxes [imposed on all 2113
domestic insurance companies and domestic insurance entities under 2114
chapter 207 on business done in this state during the preceding calendar 2115
year] reported in the annual statement rendered to the Insurance 2116
Commissioner pursuant to subsection (a) of this section; and 2117
(3) [the] The proposed assessment against that company or entity, 2118
calculated in accordance with the provisions of subsection (c) of this 2119
section, provided for the purposes of this calculation the amount 2120
appropriated to the Insurance Department, the Office of the Healthcare 2121
Advocate and the Office of Health Strategy from the Insurance Fund 2122
plus the cost of fringe benefits for department and office personnel and 2123
the estimated expenditures on behalf of the department and [such] said 2124
offices from the Capital Equipment Purchase Fund pursuant to section 2125
4a-9, not including such expenditures made on behalf of the Health 2126
Systems Planning Unit of the Office of Health Strategy shall be deemed 2127
to be the actual expenditures of the department and [such] said offices, 2128
and the amount appropriated to the Department of Aging and Disability 2129
Services from the Insurance Fund for the fiscal year for the fall 2130
prevention program established in section 17a-859 shall be deemed to 2131
be the actual expenditures for the program. 2132
(c) (1) The proposed assessments for each domestic insurance 2133
company or other domestic entity shall be calculated by (A) allocating 2134
twenty per cent of the amount to be paid under section 38a-47 among 2135
the domestic entities organized under sections 38a-199 to 38a-209, 2136
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inclusive, and 38a-214 to 38a-225, inclusive, in proportion to their 2137
respective shares of the total amount of taxes [and charges imposed 2138
under chapter 207 on such entities on business done in this state during 2139
the preceding calendar year] reported in the annual statement rendered 2140
to the Insurance Commissioner pursuant to subsection (a) of this 2141
section, and (B) allocating eighty per cent of the amount to be paid under 2142
section 38a-47 among all domestic insurance companies and domestic 2143
entities other than those organized under sections 38a-199 to 38a-209, 2144
inclusive, and 38a-214 to 38a-225, inclusive, in proportion to their 2145
respective shares of the total amount of taxes [and charges imposed 2146
under chapter 207 on such domestic insurance companies and domestic 2147
entities on business done in this state during the preceding calendar 2148
year] reported in the annual statement rendered to the Insurance 2149
Commissioner pursuant to subsection (a) of this section, provided if 2150
there are no domestic entities organized under sections 38a-199 to 38a-2151
209, inclusive, and 38a-214 to 38a-225, inclusive, at the time of 2152
assessment, one hundred per cent of the amount to be paid under 2153
section 38a-47 shall be allocated among such domestic insurance 2154
companies and domestic entities. 2155
(2) When the amount any such company or entity is assessed 2156
pursuant to this section exceeds twenty-five per cent of the actual 2157
expenditures of the Insurance Department, the Office of the Healthcare 2158
Advocate and the Office of Health Strategy from the Insurance Fund, 2159
such excess amount shall not be paid by such company or entity but 2160
rather shall be assessed against and paid by all other such companies 2161
and entities in proportion to their respective shares of the total amount 2162
of taxes [and charges imposed under chapter 207 on business done in 2163
this state during the preceding calendar year] reported in the annual 2164
statement rendered to the Insurance Commissioner pursuant to 2165
subsection (a) of this section, except that for purposes of any assessment 2166
made to fund payments to the Department of Public Health to purchase 2167
vaccines, such company or entity shall be responsible for its share of the 2168
costs, notwithstanding whether its assessment exceeds twenty-five per 2169
Bill No.
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cent of the actual expenditures of the Insurance Department, the Office 2170
of the Healthcare Advocate and the Office of Health Strategy from the 2171
Insurance Fund. The provisions of this subdivision shall not be 2172
applicable to any corporation that has converted to a domestic mutual 2173
insurance company pursuant to section 38a-155 upon the effective date 2174
of any public act that amends said section to modify or remove any 2175
restriction on the business such a company may engage in, for purposes 2176
of any assessment due from such company on and after such effective 2177
date. 2178
(d) [For purposes of calculating the amount of payment under section 2179
38a-47, as well as the amount of the assessments under this section, the 2180
"total taxes imposed on all domestic insurance companies and other 2181
domestic entities under chapter 207" shall be based upon the amounts 2182
shown as payable to the state for the calendar year on the returns filed 2183
with the Commissioner of Revenue Services pursuant to chapter 207; 2184
with respect to calculating the amount of payment and assessment for 2185
local domestic insurance companies, the amount used shall be the taxes 2186
and charges imposed before any tax credits allowed as provided in 2187
subsection (a) of section 12-202] Each annual payment determined 2188
under section 38a-47 and each annual assessment determined under this 2189
section shall be calculated based on the total amount of taxes reported 2190
in the annual statement rendered to the Insurance Commissioner 2191
pursuant to subsection (a) of this section. 2192
(e) On or before September first, annually, for each fiscal year, the 2193
Insurance Commissioner, after receiving any objections to the proposed 2194
assessments and making such adjustments as in the commissioner's 2195
opinion may be indicated, shall assess each such domestic insurance 2196
company or other domestic entity an amount equal to its proposed 2197
assessment as so adjusted. Each domestic insurance company or other 2198
domestic entity shall pay to the Insurance Commissioner (1) on or before 2199
June thirtieth, annually, an estimated payment against its assessment for 2200
the following year equal to twenty-five per cent of its assessment for the 2201
fiscal year ending such June thirtieth, (2) on or before September 2202
Bill No.
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thirtieth, annually, twenty-five per cent of its assessment adjusted to 2203
reflect any credit or amount due from the preceding fiscal year as 2204
determined by the commissioner under subsection (f) of this section, 2205
and (3) on or before the following December thirty-first and March 2206
thirty-first, annually, each domestic insurance company or other 2207
domestic entity shall pay to the Insurance Commissioner the remaining 2208
fifty per cent of its proposed assessment to the department in two equal 2209
installments. 2210
(f) If the actual expenditures for the fall prevention program 2211
established in section 17a-859 are less than the amount allocated, the 2212
Commissioner of Aging and Disability Services shall notify the 2213
Insurance Commissioner. Immediately following the close of the fiscal 2214
year, the Insurance Commissioner shall recalculate the proposed 2215
assessment for each domestic insurance company or other domestic 2216
entity in accordance with subsection (c) of this section using the actual 2217
expenditures made during the fiscal year by the Insurance Department, 2218
the Office of the Healthcare Advocate and the Office of Health Strategy 2219
from the Insurance Fund, the actual expenditures made on behalf of the 2220
department and [the] said offices from the Capital Equipment Purchase 2221
Fund pursuant to section 4a-9, not including such expenditures made 2222
on behalf of the Health Systems Planning Unit of the Office of Health 2223
Strategy, and the actual expenditures for the fall prevention program. 2224
On or before July thirty-first, annually, the Insurance Commissioner 2225
shall render to each such domestic insurance company and other 2226
domestic entity a statement showing the difference between their 2227
respective recalculated assessments and the amount they have 2228
previously paid. On or before August thirty-first, the Insurance 2229
Commissioner, after receiving any objections to such statements, shall 2230
make such adjustments [which] that in [their] the commissioner's 2231
opinion may be indicated, and shall render an adjusted assessment, if 2232
any, to the affected companies. Any such domestic insurance company 2233
or other domestic entity may pay to the Insurance Commissioner the 2234
entire assessment required under this subsection in one payment when 2235
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the first installment of such assessment is due. 2236
(g) If any assessment is not paid when due, a penalty of twenty-five 2237
dollars shall be added thereto, and interest at the rate of six per cent per 2238
annum shall be paid thereafter on such assessment and penalty. 2239
(h) The Insurance Commissioner shall deposit all payments made 2240
under this section with the State Treasurer. On and after June 6, 1991, 2241
the moneys so deposited shall be credited to the Insurance Fund 2242
established under section 38a-52a and shall be accounted for as expenses 2243
recovered from insurance companies. 2244
Sec. 32. Section 10-287 of the general statutes is repealed and the 2245
following is substituted in lieu thereof (Effective July 1, 2024): 2246
(a) A grant for a school building project under this chapter [to meet 2247
project costs not eligible for state financial assistance under section 10-2248
287a] shall be paid in installments, the number and time of payment of 2249
which shall correspond to the number and time of principal installment 2250
payments on municipal bonds, including principal payments to retire 2251
temporary notes renewed for the third and subsequent years pursuant 2252
to section 7-378a or 7-378e, issued for the purpose of financing such costs 2253
and shall be equal to the state's share of project costs per principal 2254
installment on municipal bonds or notes, except in cases where the 2255
project has been fully paid for, in which case the number of installments 2256
shall be five or, in the case of a regional agricultural science and 2257
technology education center or a cooperative regional special 2258
educational facility, shall be one; provided final payment shall not be 2259
made prior to an audit conducted by the State Board of Education for 2260
each project for which a final calculation was not made prior to July 31, 2261
1983. Grants under twenty-five thousand dollars shall be paid in one 2262
lump sum. The Commissioner of Administrative Services shall certify 2263
to the State Comptroller, upon completion of the issuance of bonds or 2264
such renewal of temporary notes to finance each school building project, 2265
the dates and amounts of grant payments to be made pursuant to this 2266
Bill No.
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chapter and the State Comptroller shall draw an order on the State 2267
Treasurer upon such certification to pay the amounts so certified when 2268
due. All site acquisition and project cost grant payments shall be made 2269
at least ten days prior to the principal payment on bonds or temporary 2270
notes related thereto or short-term financing issued to finance such site 2271
acquisition or project. Annual grant installments paid pursuant to this 2272
section on principal installment payments to retire temporary notes 2273
renewed pursuant to section 7-378a or 7-378e shall be based each year 2274
on the amount required to be retired pursuant to said sections, as 2275
adjusted for any ineligible project costs, and shall be paid only if at the 2276
time such temporary notes are renewed the rate of interest applicable to 2277
such notes is less than the rate of interest that would be applicable with 2278
respect to twenty-year bonds if issued at the time of such renewal. The 2279
determination related to such rates of interest pursuant to this 2280
subsection may be reviewed and shall be subject to approval by the 2281
Commissioner of Administrative Services prior to renewal of such 2282
notes. In the event that a school building project is not completed at the 2283
time bonds or temporary notes related thereto are issued to finance the 2284
project, the certification of the grant payments made pursuant to this 2285
section by the Commissioner of Administrative Services may be based 2286
on estimates, provided upon completion of such project and notification 2287
of final acceptance to the state, the Commissioner of Administrative 2288
Services shall adjust and recertify the dates and amounts of subsequent 2289
grant payments based on the state's share of final eligible costs. 2290
(b) (1) All orders and contracts for school building construction 2291
receiving state assistance under this chapter, except as provided in 2292
subdivisions (2) to (4), inclusive, of this subsection, shall be awarded to 2293
the lowest responsible qualified bidder only after a public invitation to 2294
bid, except for (A) school building projects for which the town or 2295
regional school district is using a state contract pursuant to subsection 2296
(d) of section 10-292, and (B) change orders, those contracts or orders 2297
costing less than ten thousand dollars and those of an emergency nature, 2298
as determined by the Commissioner of Administrative Services, in 2299
Bill No.
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which cases the contractor or vendor may be selected by negotiation, 2300
provided no local fiscal regulations, ordinances or charter provisions 2301
conflict. Any of the qualified bidders under this subdivision may be a 2302
cooperative purchasing contract offered through a regional educational 2303
service center or a council of government. 2304
(2) All orders and contracts for architectural services shall be 2305
awarded from a pool of [not more than the four] at least three of the 2306
most responsible qualified proposers after a public selection process. 2307
Such process shall, at a minimum, involve requests for qualifications, 2308
followed by requests for proposals, including fees, from the proposers 2309
meeting the qualifications criteria of the request for qualifications 2310
process. Following the qualification process, the awarding authority 2311
shall evaluate the proposals to determine [the four] at least three of the 2312
most responsible qualified proposers using those criteria previously 2313
listed in the requests for qualifications and requests for proposals for 2314
selecting architectural services specific to the project or school district. 2315
Such evaluation criteria shall include due consideration of the 2316
proposer's pricing for the project, experience with work of similar size 2317
and scope as required for the order or contract, organizational and team 2318
structure, including any subcontractors to be utilized by the proposer, 2319
for the order or contract, past performance data, including, but not 2320
limited to, adherence to project schedules and project budgets and the 2321
number of change orders for projects, the approach to the work required 2322
for the order or contract and documented contract oversight 2323
capabilities, and may include criteria specific to the project. Final 2324
selection by the awarding authority is limited to the pool of [the four] at 2325
least three of the most responsible qualified proposers and shall include 2326
consideration of all criteria included within the request for proposals. 2327
As used in this subdivision, "most responsible qualified proposer" 2328
means the proposer who is qualified by the awarding authority when 2329
considering price and the factors necessary for faithful performance of 2330
the work based on the criteria and scope of work included in the request 2331
for proposals. 2332
Bill No.
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(3) (A) All orders and contracts for construction management services 2333
shall be awarded from a pool of [not more than the four] at least three 2334
of the most responsible qualified proposers after a public selection 2335
process. Such process shall, at a minimum, involve requests for 2336
qualifications, followed by requests for proposals, including fees, from 2337
the proposers meeting the qualifications criteria of the request for 2338
qualifications process. Following the qualification process, the 2339
awarding authority shall evaluate the proposals to determine [the four] 2340
at least three of the most responsible qualified proposers using those 2341
criteria previously listed in the requests for qualifications and requests 2342
for proposals for selecting construction management services specific to 2343
the project or school district. Such evaluation criteria shall include due 2344
consideration of the proposer's pricing for the project, experience with 2345
work of similar size and scope as required for the order or contract, 2346
organizational and team structure for the order or contract, past 2347
performance data, including, but not limited to, adherence to project 2348
schedules and project budgets and the number of change orders for 2349
projects, the approach to the work required for the order or contract, 2350
and documented contract oversight capabilities, and may include 2351
criteria specific to the project. Final selection by the awarding authority 2352
is limited to the pool of [the four] at least three of the most responsible 2353
qualified proposers and shall include consideration of all criteria 2354
included within the request for proposals. As used in this subdivision, 2355
"most responsible qualified proposer" means the proposer who is 2356
qualified by the awarding authority when considering price and the 2357
factors necessary for faithful performance of the work based on the 2358
criteria and scope of work included in the request for proposals. 2359
(B) The construction manager's contract shall include a guaranteed 2360
maximum price for the cost of construction. Such guaranteed maximum 2361
price shall be determined not later than ninety days after the selection 2362
of the trade subcontractor bids. Each construction manager shall invite 2363
bids and give notice of opportunities to bid on project elements on the 2364
State Contracting Portal. Each bid shall be kept sealed until opened 2365
Bill No.
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publicly at the time and place set forth in the notice soliciting such bid. 2366
The construction manager shall, after consultation and approval by the 2367
town or regional school district, award any related contracts for project 2368
elements to the responsible qualified contractor submitting the lowest 2369
bid in compliance with the bid requirements, provided that (i) the 2370
construction manager shall not be eligible to submit a bid for any such 2371
project element, and (ii) construction shall not begin prior to the 2372
determination of the guaranteed maximum price. [, except work relating 2373
to site preparation and demolition may commence prior to such 2374
determination.] On and after July 1, 2024, the construction manager's 2375
contract shall include a requirement that the construction manager 2376
retain all documents and receipts relating to the school building project 2377
for a period of two years following the date of completion of an audit 2378
conducted by the Department of Administrative Services pursuant to 2379
this section, for such project. 2380
(C) The construction manager shall submit quarterly reports 2381
regarding the ineligible project costs for the school building project to 2382
date to the town or regional board of education. Upon submission of the 2383
notice of project completion pursuant to subsection (d) of this section, 2384
and prior to the audit conducted by the commissioner, the construction 2385
manager shall submit a final report on the total ineligible costs for such 2386
project to the town or regional school district. 2387
(D) The construction manager shall meet quarterly with the town or 2388
regional board of education to review any change orders for eligibility 2389
as the school building project progresses. 2390
(4) All orders and contracts for any other consultant services, 2391
including, but not limited to, consultant services rendered by an owner's 2392
representatives, construction administrators, program managers, 2393
environmental professionals, planners and financial specialists, shall 2394
comply with the public selection process described in subdivision (2) of 2395
this subsection. No costs associated with an order or contract for such 2396
consultant services shall be eligible for state financial assistance under 2397
Bill No.
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this chapter unless such order or contract receives prior approval from 2398
the Commissioner of Administrative Services in writing or through a 2399
written electronic communication. 2400
(c) If the Commissioner of Administrative Services determines that a 2401
building project has not met the approved conditions of the original 2402
application, the Department of Administrative Services may withhold 2403
subsequent state grant payments for said project until appropriate 2404
action, as determined by the commissioner, is taken to cause the 2405
building project to be in compliance with the approved conditions or 2406
may require repayment of all state grant payments for said project when 2407
such appropriate action is not undertaken within a reasonable time. 2408
(d) (1) Each town or regional school district shall submit a final grant 2409
application to the Department of Administrative Services [within] not 2410
later than one year from the date of completion and acceptance of the 2411
school building project by the town or regional school district. If a town 2412
or regional school district fails to submit a final grant application [within 2413
said period of time] on or before such one-year date, the commissioner 2414
may withhold ten per cent of the state reimbursement for such project. 2415
(2) (A) On and after July 1, [2022] 2024, each town or regional school 2416
district shall submit a notice of project completion [within three years] 2417
not later than one year from the date of the issuance of a certificate of 2418
occupancy for the school building project by the town or regional school 2419
district. If a town or regional school district fails to submit such notice 2420
of project completion [within said period of time] on or before such one-2421
year date, the commissioner shall deem such project completed and 2422
conduct an audit of such project in accordance with the provisions of 2423
this chapter. 2424
(B) For any school building project authorized by the General 2425
Assembly prior to July 1, 2022, the commissioner shall deem as complete 2426
any such project in which a certificate of occupancy has been granted, 2427
but for which a notice of project completion has not been submitted by 2428
Bill No.
LCO No. 6185 81 of 137
the town or regional school district on or before July 1, 2025. 2429
Sec. 33. Section 163 of public act 24-151 is repealed. (Effective from 2430
passage) 2431
Sec. 34. Section 1 of special act 77-98, as amended by section 5 of 2432
special act 99-12, section 2 of public act 02-85, section 1 of special act 13-2433
20, section 1 of special act 17-5 and section 1 of special act 24-7, is 2434
amended to read as follows (Effective from passage): 2435
It is found and declared as a matter of legislative determination that 2436
the creation of the South Central Connecticut Regional Water Authority 2437
for the primary purpose of providing and assuring the provision of an 2438
adequate supply of pure water and the safe disposal of wastewater at 2439
reasonable cost within the South Central Connecticut Regional Water 2440
District and such other areas as may be served pursuant to cooperative 2441
agreements and acquisitions authorized by section 11 of special act 77-2442
98, as amended by section 5 of special act 78-24, section 3 of special act 2443
84-46, section 7 of public act 02-85 and section 3 of special act 17-5, as 2444
amended by this act, and, to the degree consistent with the foregoing, of 2445
advancing water conservation and the conservation and compatible 2446
recreational use of land held by the authority, conducting or investing 2447
in noncore businesses, provided, at the time of any investment in such 2448
businesses, the authority's investment, less returns of or on such 2449
investments in such businesses made on and after June 30, 2013, shall 2450
not exceed the greater of five per cent of the authority's net utility plant 2451
devoted to its water and wastewater utility businesses or such higher 2452
amount approved by a majority of the total weighted votes of the 2453
membership of the representative policy board, excluding vacancies, 2454
except that the acquisition of the Aquarion Water Company or one or 2455
more of its subsidiaries shall have no such limitations, and the carrying 2456
out of its powers, purposes, and duties under sections 1 to 33, inclusive, 2457
of special act 77-98, as amended by special act 78-24, special act 84-46, 2458
sections 5 to 7, inclusive, of special act 99-12, sections 2 to 21, inclusive, 2459
of public act 02-85, special act 13-20, special act 17-5, special act 24-7 and 2460
Bill No.
LCO No. 6185 82 of 137
this act, and for the benefit of the people residing in the South Central 2461
Connecticut Regional Water District and the state of Connecticut, and 2462
for the improvement of their health, safety and welfare, that said 2463
purposes are public purposes, and that the authority will be performing 2464
an essential governmental function in the exercise of its powers under 2465
sections 1 to 33, inclusive, of special act 77-98, as amended by special act 2466
78-24, special act 84-46, sections 5 to 7, inclusive, of special act 99-12, 2467
section 2 of public act 02-85, special act 13-20, special act 17-5, special act 2468
24-7 and this act. The authority shall have the power to conduct or invest 2469
in noncore businesses authorized pursuant to this section, either directly 2470
or through an affiliated business entity. 2471
Sec. 35. Section 2 of special act 77-98, as amended by section 1 of 2472
special act 78-24, section 3 of public act 02-85, section 2 of special act 13-2473
20, section 2 of special act 17-5 and section 2 of special act 24-7, is 2474
amended to read as follows (Effective from passage): 2475
As used in sections 1 to 33, inclusive, of special act 77-98, as amended 2476
by special act 78-24, public act 02-85, special act 13-20, special act 17-5, 2477
special act 24-7 and this act, unless a different meaning appears in the 2478
context: "Authority" means the South Central Connecticut Regional 2479
Water Authority created by section 5 of special act 77-98, as amended by 2480
section 4 of special act 78-24, public act 02-85 and special act 13-20; 2481
"district" means the South Central Connecticut Regional Water District 2482
created by section 3 of special act 77-98, as amended by section 2 of 2483
special act 78-24; "representative policy board" means the representative 2484
policy board of the South Central Connecticut Regional Water District 2485
created by section 4 of special act 77-98, as amended by section 3 of 2486
special act 78-24; "chief executive officer" means that full time employee 2487
of the authority responsible for the execution of the policies of the 2488
authority and for the direction of the other employees of the authority; 2489
"treasurer" means the treasurer of the authority; "customer" means any 2490
person, firm, corporation, company, association or governmental unit 2491
furnished water or wastewater service by the authority or any owner of 2492
property who guarantees payment for water or wastewater service to 2493
Bill No.
LCO No. 6185 83 of 137
such property; "properties" means the water supply and distribution 2494
system or systems, wastewater collection and treatment systems and 2495
other real or personal property of the authority; "bonds" means bonds, 2496
notes and other obligations issued by the authority; "revenues" means 2497
all rents, charges and other income derived from the operation of the 2498
properties of the authority; "wastewater" means any substance, liquid 2499
or solid, which may contaminate or pollute or affect the cleanliness or 2500
purity of any water; "water supply system" means plants, structures and 2501
other real and personal property acquired, constructed or operated for 2502
the purpose of supplying water, including basins, dams, canals, 2503
aqueducts, standpipes, pumping stations, water distribution systems, 2504
including land, reservoirs, conduits, pipelines, mains, compensating 2505
reservoirs, waterworks or sources of water supply, wells, purification or 2506
filtration plants or other plants and works, connections, rights of 2507
flowage or diversion and other plants, structures, conveyances, real or 2508
personal property or rights therein and appurtenances necessary or 2509
useful and convenient for the accumulation, supply or distribution of 2510
water or for the conduct of water or environment related activities; 2511
"wastewater system" means plants, structures and other real and 2512
personal property acquired, constructed or operated for the purpose of 2513
collecting, treating and discharging or reusing wastewater, whether or 2514
not interconnected, including wastewater treatment plants, pipes and 2515
conduits for collection of wastewater, pumping stations and other 2516
plants, works, structures, conveyances, real or personal property or 2517
rights therein and appurtenances necessary or useful and convenient for 2518
the collection, transmission, treatment and disposition of wastewater; 2519
"subsidiary corporation" means a corporation organized under the 2520
general statutes or by special act which owns or operates all or part of a 2521
water supply system or a wastewater system within the district and all 2522
of the voting stock of which is owned by the authority; [,] "noncore 2523
business" means an activity, including an activity conducted outside the 2524
state of Connecticut, that is the acquisition of the Aquarion Water 2525
Company or one or more of its subsidiaries or an activity that is related 2526
to water, environment, agriculture, sustainable manufacturing support, 2527
Bill No.
LCO No. 6185 84 of 137
or an energy project consisting of either a class I renewable energy 2528
source, as defined in subdivision (20) of subsection (a) of section 16-1 of 2529
the general statutes, or a class III source, as defined in subdivision (38) 2530
of said section, but excluding wind sources located within the district 2531
and any activity located on property that is class I or class II land owned 2532
by the authority; and "affiliated business entity" means a corporation, a 2533
limited liability company or a limited partnership controlled directly or 2534
indirectly by the authority that conducts or invests in a noncore 2535
business. A reference in sections 1 to 33, inclusive, of special act 77-98, 2536
as amended by special act 78-24, special act 84-46, public act 02-85 and 2537
special act 13-20, to any general statute, public act or special act shall 2538
include any amendment or successor thereto. 2539
Sec. 36. Section 4 of special act 77-98, as amended by section 3 of 2540
special act 78-24, section 2 of special act 84-46, section 5 of public act 02-2541
85, section 2 of special act 03-11, section 10 of special act 13-20 and 2542
section 3 of special act 24-7, is amended by adding subsection (f) as 2543
follows (Effective from passage): 2544
(f) The members of the representative policy board shall have the 2545
authority to act on behalf of the Aquarion representative policy board, 2546
as defined in section 35 of section 41 of this act, until such time as the 2547
members of the Aquarion representative policy board are appointed. 2548
Sec. 37. Section 5 of special act 77-98, as amended by section 4 of 2549
special act 78-24 and section 4 of special act 24-7, is amended to read as 2550
follows (Effective from passage): 2551
(a) A public corporation, to be known as the "South Central 2552
Connecticut Regional Water Authority," constituting a public 2553
instrumentality and political subdivision, is created for the purposes, 2554
charged with the duties and granted the powers provided in sections 1 2555
to 33, inclusive, of special act 77-98, as amended by special act 78-24 and 2556
this act. On and before December 31, 2024, the authority shall consist of 2557
five members who shall be residents of the district and not be members 2558
Bill No.
LCO No. 6185 85 of 137
of the representative policy board. On and after January 1, 2025, except 2559
as provided in subsection (c) of this section, the authority shall consist 2560
of seven members who shall reside in Connecticut and not be members 2561
of the representative policy board, and not fewer than five such 2562
members shall be residents of the district. All members shall be 2563
appointed without regard to political affiliation by a majority of the total 2564
votes of those members of the representative policy board present at a 2565
meeting at which at least two-thirds of the weighted vote, excluding 2566
vacancies, is present, for terms of five years, not to exceed four 2567
consecutive full terms, and until their successors are appointed and 2568
have qualified, except that of the members first appointed, one shall be 2569
appointed for a term ending January 1, 1983, one for a term ending 2570
January 1, 1982, one for a term ending January 1, 1981, one for a term 2571
ending January 1, 1980, and one for a term ending January l, 1979. The 2572
sixth member first appointed shall be appointed for a three-year term 2573
ending January 1, 2028, and the seventh member first appointed shall be 2574
appointed for a five-year term ending January 1, 2030. Any vacancy 2575
occurring on the authority shall be filled in the same manner for the 2576
unexpired portion of the term. Any member of the authority may be 2577
removed from office by the representative policy board for cause. 2578
Members of the authority shall receive such compensation to be 2579
adjusted every three years by the Consumer Price Index factor, as 2580
described in section 4 of special act 77-98, as amended by special act 78-2581
24, special act 84-46, public act 02-85, special act 03-11, special act 13-20 2582
and this act, if approved by the majority of weighted votes of the 2583
membership of the representative policy board, excluding vacancies, 2584
and shall be reimbursed for their necessary expenses incurred in 2585
performance of their duties. 2586
(b) The members of the South Central Connecticut Regional Water 2587
Authority board shall have the authority to act on behalf of the 2588
Aquarion Water Authority, as described in section 35 of section 41 of 2589
this act, until such time as the members of the Aquarion Water 2590
Authority board are appointed. 2591
Bill No.
LCO No. 6185 86 of 137
(c) Notwithstanding the provisions of subsection (a) of this section, 2592
upon the Public Utilities Regulatory Authority's approval of the South 2593
Central Connecticut Regional Water Authority or the Aquarion Water 2594
Authority to own and operate the Aquarion Water Company or one or 2595
more of its subsidiaries, the authority board shall consist of eleven 2596
members who shall reside in Connecticut and not be members of the 2597
representative policy board, six of whom shall be residents of the South 2598
Central Connecticut Regional Water District appointed by the 2599
representative policy board, and five of whom shall be appointed by the 2600
representative policy board of the Aquarion Regional Water District, as 2601
described in section 35 of section 41 of this act, in accordance with 2602
section 38 of section 41 of this act. The six members appointed by the 2603
representative policy board of the authority shall have the authority to 2604
act on behalf of the Aquarion Water Authority until such time as the 2605
members of the Aquarion Water Authority are appointed. All such 2606
authority members shall be appointed without regard to political 2607
affiliation by a majority of the total votes of those members of the 2608
representative policy board present at a meeting at which at least two-2609
thirds of the weighted vote, excluding vacancies, is present, for terms of 2610
five years, not to exceed four consecutive full terms, and until their 2611
successors are appointed and have qualified. The sixth member first 2612
appointed shall be appointed for a three-year term ending January 1, 2613
2028, and the seventh member first appointed shall be appointed for a 2614
five-year term ending January 1, 2030. Any vacancy occurring on the 2615
authority shall be filled in the same manner for the unexpired portion of 2616
the term. Any member of the authority may be removed from office by 2617
the representative policy board for cause. Members of the authority 2618
shall receive such compensation to be adjusted every three years by the 2619
Consumer Price Index factor, as described in section 4 of special act 77-2620
98, as amended by special act 78-24, special act 84-46, public act 02-85, 2621
special act 03-11, special act 13-20, special act 24-7 and this act, if 2622
approved by the majority of weighted votes of the membership of the 2623
representative policy board, excluding vacancies, and shall be 2624
reimbursed for their necessary expenses incurred in performance of 2625
Bill No.
LCO No. 6185 87 of 137
their duties. 2626
Sec. 38. Section 9 of special act 77-98, as amended by section 5 of 2627
special act 24-7, is amended to read as follows (Effective from passage): 2628
The authority shall meet at least quarterly. Except as the bylaws of 2629
the authority may provide in emergency situations, the powers of the 2630
authority shall be exercised by the members at a meeting duly called 2631
and held. On and before December 31, 2024, three members shall 2632
constitute a quorum, and on and after January 1, 2025, four members 2633
shall constitute a quorum, provided that after the appointment of all 2634
authority members appointed by the representative policy board of the 2635
Aquarion Regional Water District, a quorum shall be six members, and 2636
no action shall be taken except pursuant to the affirmative vote of a 2637
quorum. The authority may delegate to one or more of its members, 2638
officers, agents or employees such powers and duties as it may deem 2639
proper. 2640
Sec. 39. Section 11 of special act 77-98, as amended by section 5 of 2641
special act 78-24, section 3 of special act 84-46, section 7 of special act 02-2642
85, and section 3 of special act 17-5, is amended to read as follows 2643
(Effective from passage): 2644
Subject to the provisions of sections 1 to 33, inclusive, of special act 2645
77-98, as amended by special act 78-24, special act 84-46 sections 5 to 7, 2646
inclusive, of special act 99-12, public act 02-85, special act 13-20, special 2647
act 17-5, special act 24-7 and this act, the authority shall have the power: 2648
(a) To sue and be sued; (b) to have a seal and alter the same at its 2649
pleasure; (c) to acquire in the name of the authority by purchase, lease 2650
or otherwise and to hold and dispose of personal property or any 2651
interest therein, including shares of stock of a subsidiary corporation; 2652
(d) to acquire in the name of the authority by purchase, lease or 2653
otherwise and to hold and dispose of any real property or interest 2654
therein, including water rights and rights of way and water discharge 2655
rights, which the authority determines to be necessary or convenient, 2656
Bill No.
LCO No. 6185 88 of 137
and to acquire any existing wastewater system or water supply system 2657
or parts thereof which are wholly or partially within the district as 2658
described under section 3 of special act 77-98, as amended by section 2 2659
of special act 78-24, section 1 of special act 84-46 and public act 02-85. As 2660
a means of so acquiring, the authority or a subsidiary corporation may 2661
purchase all of the stock or all of any part of the assets and franchises of 2662
any existing privately owned water or wastewater company, 2663
whereupon the authority or such subsidiary corporation shall succeed 2664
to all rights, powers and franchises thereof. Sections 16-43, 16-50c and 2665
16-50d of the general statutes shall not apply to any action by the 2666
authority or a subsidiary corporation or any action by any privately 2667
owned water company or sewage company, as defined in section 16-1 2668
of the general statutes, taken to effectuate the acquisition of the stock or 2669
all or any part of the assets and franchises of such water company or 2670
sewage company by the authority, provided section 16-43 of the general 2671
statutes shall apply to any action taken to effectuate the acquisition of 2672
the stock or all or any part of the assets and franchises of the Ansonia 2673
Derby Water Company by the authority. Notwithstanding any 2674
provision of section 25-32 of the general statutes, land may be 2675
transferred to the authority or a subsidiary corporation of the authority 2676
as part of such an acquisition. The commissioner of health services shall 2677
not grant a permit for a change in the use of any class I or class II land 2678
owned by the Ansonia Derby Water Company on the effective date of 2679
this section and not transferred to the authority or a subsidiary 2680
corporation or a permit for the sale, lease or assignment of any such class 2681
II land, unless (1) all provisions of section 25-32 of the general statutes 2682
are complied with, and (2) the commissioner of health services 2683
determines, after holding a hearing, notice of which shall be published 2684
not later than thirty days before the hearing in one or more newspapers 2685
having a substantial circulation in the municipalities in which the land 2686
is located, that such change in the use or sale, lease, or assignment of the 2687
land will not have a significant adverse impact upon present and future 2688
water supply needs of the authority or a subsidiary corporation of the 2689
authority; [:] (e) to construct and develop any water supply system or 2690
Bill No.
LCO No. 6185 89 of 137
any wastewater system; (f) to own, operate, maintain, repair, improve, 2691
construct, reconstruct, replace, enlarge and extend any of its properties; 2692
(g) any provision in any general statute, special act or charter to the 2693
contrary notwithstanding, but subject to the provisions of section 12 of 2694
special act 77-98, as amended by section 8 of public act 02-85, and section 2695
28 of special act 77-98, as amended by section 9 of special act 78-24, to 2696
sell water, however acquired, to customers within the district or to any 2697
municipality or water company; (h) any provisions in any general 2698
statute, special act or charter to the contrary notwithstanding, to 2699
purchase water approved by the commissioner of health from any 2700
person, private corporation or municipality when necessary or 2701
convenient for the operation of any water supply system operated by 2702
the authority; (i) to adopt and amend bylaws, rules and regulations for 2703
the management and regulation of its affairs and for the use and 2704
protection of the water and properties of the authority or a subsidiary 2705
corporation and, subject to the provisions of any resolution authorizing 2706
the issuance of bonds, rules for the sale of water, the collection and 2707
processing of wastewater and the collection of rents and charges for 2708
both water supply and wastewater functions. A copy of such bylaws, 2709
rules and regulations and all amendments thereto, certified by the 2710
secretary of the authority, shall be filed in the office of the secretary of 2711
the state and with the clerk of each town and city within the district. 2712
Any superior court located within the district shall have jurisdiction 2713
over any violation of such bylaws, rules or regulations and the authority 2714
may prosecute actions before the superior court to enforce such bylaws, 2715
rules and regulations; (j) to make contracts and to execute all necessary 2716
or convenient instruments, including evidences of indebtedness, 2717
negotiable or non-negotiable; (k) to borrow money, to issue negotiable 2718
bonds or notes, to fund and refund the same and to provide for the 2719
rights of the holders of the authority's obligations; (l) to open the 2720
grounds in any public street or way or public grounds for the purpose 2721
of laying, installing, maintaining or replacing pipes and conduits, 2722
provided upon the completion of such work the grounds shall be 2723
restored to the condition they were in previously; (m) to enter into 2724
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cooperative agreements with other water authorities, municipalities, 2725
water districts, water companies or water pollution control authorities 2726
within or without the district for interconnection of facilities, for 2727
exchange or interchange of services and commodities or for any other 2728
lawful purpose necessary or desirable to effect the purposes of sections 2729
1 to 33, inclusive, of special act 77-98, as amended by special act 78-24, 2730
special act 84-46 and sections 5 to 7, inclusive, of special act 99-12, special 2731
act 13-20, special act 17-5, special act 24-7 and this act, such agreements 2732
to be binding for a period specified therein; (n) to acquire, hold, develop 2733
and maintain land and other real estate and waters for conservation and 2734
for compatible active and passive recreational purposes and to levy 2735
charges for such uses, provided the state department of health finds that 2736
such uses will not harm the quality of water provided by the authority; 2737
(o) to apply for and accept grants, loans or contributions from the United 2738
States, the state of Connecticut or any agency, instrumentality or 2739
subdivision of either of them or from any person, and to expend the 2740
proceeds for any of its purposes; (p) to create programs and policies for 2741
the purpose of conserving water; (q) to do any and all things necessary 2742
or convenient to carry out the powers expressly given in sections 1 to 33, 2743
inclusive, of special act 77-98, as amended by special act 78-24, special 2744
act 84-76, sections 5 to 7, inclusive, of special act 99-12, public act 02-85, 2745
special act 13-20, special act 17-5, special act 24-7 and this act, including 2746
the powers granted by the general statutes to stock corporations, except 2747
the power to issue stock, and the powers granted by the general statutes 2748
to water pollution control authorities; and (r) to borrow money, to issue 2749
negotiable bonds or notes, to fund and refund the same and to provide 2750
for the rights of the holders of the authority's obligations for the specific 2751
purpose of acquiring the Aquarion Water Company or one or more of 2752
its subsidiaries. 2753
Sec. 40. Subsection (a) of section 15 of special act 77-98, as amended 2754
by section 8 of special act 99-12 and section 11 of special act 02-85, is 2755
amended to read as follows (Effective from passage): 2756
(a) The representative policy board shall establish an office of 2757
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consumer affairs to act as the advocate for consumer interests in all 2758
matters which may affect consumers, including without limitation 2759
matters of rates, water quality and supply and wastewater service 2760
quality. The costs of such office of consumer affairs, unless otherwise 2761
provided by the state, shall jointly be paid by the authority and the 2762
Aquarion Water Authority. 2763
Sec. 41. Special act 77-98, as amended by special act 78-24, special act 2764
84-46, special act 99-12, special act 02-85, special act 03-11, special act 13-2765
20, special act 17-5, special act 18-04 and special act 24-7, is amended by 2766
adding sections 34 to 65, inclusive, as follows (Effective from passage): 2767
Sec. 34. It is found and declared as a matter of legislative 2768
determination that the creation of the Aquarion Water Authority for the 2769
primary purpose of providing and assuring the provision of an 2770
adequate supply of pure water and the safe disposal of wastewater at 2771
reasonable cost within the Aquarion Regional Water District and such 2772
other areas as may be served pursuant to cooperative agreements and 2773
acquisitions and, to the degree consistent with the foregoing, of 2774
advancing water conservation and the conservation and compatible 2775
recreational use of land held by the authority, conducting or investing 2776
in noncore businesses, provided, at the time of any investment in such 2777
businesses, the authority's investment, less returns of or on such 2778
investments in such businesses, shall not exceed the greater of five per 2779
cent of the authority's net utility plant devoted to its water and 2780
wastewater utility businesses or such higher amount approved by a 2781
majority of the total weighted votes of the membership of the Aquarion 2782
representative policy board, excluding vacancies, and the carrying out 2783
of its powers, purposes, and duties under sections 34 to 65, inclusive, of 2784
this act and for the benefit of the people residing in the Aquarion 2785
Regional Water District and the state of Connecticut, and for the 2786
improvement of their health, safety and welfare, that said purposes are 2787
public purposes, and that the authority will be performing an essential 2788
governmental function in the exercise of its powers under sections 34 to 2789
65, inclusive, of this act. The authority shall have the power to conduct 2790
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or invest in noncore businesses authorized pursuant to this section, 2791
either directly or through an affiliated business entity. 2792
Sec. 35. As used in sections 34 to 65, inclusive, of this act unless a 2793
different meaning appears in the context: "Authority" means the 2794
Aquarion Water Authority; "district" means the Aquarion Regional 2795
Water District; "Aquarion representative policy board" means the 2796
representative policy board of the Aquarion Regional Water District; 2797
"chief executive officer" means that full time employee of the authority 2798
responsible for the execution of the policies of the authority and for the 2799
direction of the other employees of the authority; "treasurer" means the 2800
treasurer of the authority; "customer" means any person, firm, 2801
corporation, company, association or governmental unit furnished 2802
water or wastewater service by the authority or any owner of property 2803
who guarantees payment for water or wastewater service to such 2804
property; "properties" means the water supply and distribution system 2805
or systems, wastewater collection and treatment systems and other real 2806
or personal property of the authority; "bonds" means bonds, notes and 2807
other obligations issued by the authority; "revenues" means all rents, 2808
charges and other income derived from the operation of the properties 2809
of the authority; "wastewater" means any substance, liquid or solid, 2810
which may contaminate or pollute or affect the cleanliness or purity of 2811
any water; "water supply system" means plants, structures and other 2812
real and personal property acquired, constructed or operated for the 2813
purpose of supplying water, including basins, dams, canals, aqueducts, 2814
standpipes, pumping stations, water distribution systems, including 2815
land, reservoirs, conduits, pipelines, mains, compensating reservoirs, 2816
waterworks or sources of water supply, wells, purification or filtration 2817
plants or other plants and works, connections, rights of flowage or 2818
diversion and other plants, structures, conveyances, real or personal 2819
property or rights therein and appurtenances necessary or useful and 2820
convenient for the accumulation, supply or distribution of water or for 2821
the conduct of water or environment related activities; "wastewater 2822
system" means plants, structures and other real and personal property 2823
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acquired, constructed or operated for the purpose of collecting, treating 2824
and discharging or reusing wastewater, whether or not interconnected, 2825
including wastewater treatment plants, pipes and conduits for 2826
collection of wastewater, pumping stations and other plants, works, 2827
structures, conveyances, real or personal property or rights therein and 2828
appurtenances necessary or useful and convenient for the collection, 2829
transmission, treatment and disposition of wastewater; "subsidiary 2830
corporation" means a corporation organized under the general statutes 2831
or by special act which owns or operates all or part of a water supply or 2832
a wastewater system within the district and all of the voting stock of 2833
which is owned by the authority; "noncore business" means an activity, 2834
including an activity conducted outside the state of Connecticut, that is 2835
the acquisition of the Aquarion Water Company or one or more of its 2836
subsidiaries or an activity that is related to water, environment, 2837
agriculture, sustainable manufacturing support, or an energy project 2838
consisting of either a class I renewable energy source, as defined in 2839
subdivision (20) of subsection (a) of section 16-1 of the general statutes, 2840
or a class III source, as defined in subdivision (38) of said section, but 2841
excluding wind sources located within the district and any activity 2842
located on property that is class I or class II land owned by the authority; 2843
and "affiliated business entity" means a corporation, a limited liability 2844
company or a limited partnership controlled directly or indirectly by the 2845
authority that conducts or invests in a noncore business. A reference in 2846
sections 34 to 65, inclusive, of this act to any general statute, public act 2847
or special act shall include any amendment or successor thereto. 2848
Sec. 36. There is created a district to be known as the "Aquarion 2849
Regional Water District" which embraces the area and territory of the 2850
towns and cities of Beacon Falls, Bethel, Bridgeport, Brookfield, 2851
Burlington, Canaan, Cornwall, Danbury, Darien, East Derby, East 2852
Granby, East Hampton, Easton, Fairfield, Farmington, Goshen, Granby, 2853
Greenwich, Groton, Harwinton, Kent, Lebanon, Litchfield, Mansfield, 2854
Marlborough, Middlebury, Monroe, New Canaan, New Fairfield, New 2855
Hartford, New Milford, Newtown, Norfolk, North Canaan, Norwalk, 2856
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Norwich, Oxford, Plainville, Redding, Ridgefield, Salisbury, Seymour, 2857
Shelton, Sherman, Simsbury, Southbury, Southington, Stamford, 2858
Stonington, Stratford, Suffield, Torrington, Trumbull, Washington, 2859
Weston, Westport, Wilton, Wolcott, and Woodbury; provided, if the 2860
authority shall neither own land or properties nor sell water or provide 2861
wastewater services directly to customers in any city or town within the 2862
district, the area and territory of such city or town thereupon shall be 2863
excluded from the district. 2864
Sec. 37. (a) The Aquarion representative policy board shall consist of 2865
one elector from each city and town within the district who shall be 2866
appointed by the chief elected official of such city or town, with the 2867
approval of its legislative body, and one elector of the state who shall be 2868
appointed by the governor. The term of the initial members of the 2869
Aquarion representative policy board shall commence when each 2870
member is first appointed and each member shall serve for a term of 2871
three years, except that members first appointed from Beacon Falls, 2872
Bethel, Bridgeport, Brookfield, Burlington, Canaan, Cornwall, Danbury, 2873
Darien, East Derby, East Granby, East Hampton, Easton, Fairfield, 2874
Farmington, Goshen, Granby, Greenwich, Groton, and Harwinton shall 2875
serve until June 30, 2026, the members first appointed from Kent, 2876
Lebanon, Litchfield, Mansfield, Marlborough, Middlebury, Monroe, 2877
New Canaan, New Fairfield, New Hartford, New Milford, Newtown, 2878
Norfolk, North Canaan, Norwalk, Norwich, Oxford, Plainville, 2879
Redding, and Ridgefield shall serve until June 30, 2027, and the 2880
members first appointed from Salisbury, Seymour, Shelton, Sherman, 2881
Simsbury, Southbury, Southington, Stamford, Stonington, Stratford, 2882
Suffield, Torrington, Trumbull, Washington, Weston, Westport, Wilton, 2883
Wolcott, and Woodbury shall serve until June 30, 2028, and the member 2884
first appointed by the governor shall serve for a term commencing upon 2885
appointment and ending on the third June thirtieth thereafter; provided 2886
members shall continue to serve until their successors are appointed 2887
and have qualified. In the event of the resignation, death or disability of 2888
a member from any city or town or the state, a successor may be 2889
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appointed by the chief elected official of such city or town, or in the case 2890
of the member appointed by the governor, by the governor, for the 2891
unexpired portion of the term. Members shall receive two hundred fifty 2892
dollars, adjusted as provided in this subsection, for each day in which 2893
they are engaged in their duties and shall be reimbursed for their 2894
necessary expenses incurred in the performance of their duties. Such 2895
two-hundred-fifty dollar compensation amount shall be adjusted on 2896
January 1, 2027, and every third year thereafter to reflect changes in the 2897
Consumer Price Index for All Urban Consumers, Northeast Urban, All 2898
Items (1982-84=100) published by the United States Bureau of Labor 2899
Statistics or a comparable successor index. They shall elect a chairman 2900
and a vice-chairman, who shall be members of the Aquarion 2901
representative policy board, and a secretary. The chairman shall receive 2902
a per diem payment of one and one-half times the amount paid to 2903
members and provisional members. The Aquarion representative policy 2904
board shall meet at least quarterly with the authority and such members 2905
of the staff of the authority as the Aquarion representative policy board 2906
deems appropriate. 2907
(b) Notwithstanding the provisions of subsection (a) of this section, 2908
no members shall be appointed to the board of the authority or the 2909
Aquarion representative policy board until the date of the Public 2910
Utilities Regulatory Authority's approval of the South Central 2911
Connecticut Regional Water Authority or the Aquarion Water 2912
Authority to own and operate the Aquarion Water Company or one or 2913
more of its subsidiaries. The South Central Connecticut Regional Water 2914
Authority shall send written notice to each entity with appointment 2915
authority pursuant to subsection (a) of this section upon such approval. 2916
(c) In voting upon all matters before the Aquarion representative 2917
policy board, the vote of each member from a city or town shall be 2918
accorded a weight, determined as follows: The sum of (1) the quotient 2919
obtained by dividing the number of customers in the city or town from 2920
which such member is appointed by the total number of customers in 2921
all cities and towns from which members have been appointed, taken 2922
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twice, and (2) the quotient obtained by dividing the number of acres of 2923
land owned by the authority within the city or town from which such 2924
member is appointed by the total number of acres of land owned by the 2925
authority in all cities and towns from which members have been 2926
appointed, shall be divided by three, the quotient thereof multiplied by 2927
one hundred and the product thereof shall be rounded to the nearest 2928
whole number. The weighted vote of the member appointed by the 2929
governor shall be one. For the purposes of this section, "number of 2930
customers" means the number of premises or groups of premises treated 2931
as units for ordinary billing or other ordinary receipt of charges by the 2932
authority and shall be determined from the records of the authority on 2933
the last day of its preceding fiscal year and "number of acres of land" 2934
means the number of acres of land rounded to the nearest whole number 2935
as may appear on the records of the authority on the last day of its 2936
preceding fiscal year. Whenever a vote is taken on any matter by the 2937
Aquarion representative policy board, the vote shall be determined in 2938
accordance with this subsection. Members of the Aquarion 2939
representative policy board holding a majority of the votes so weighted 2940
shall constitute a quorum. 2941
(d) The Aquarion representative policy board shall adopt and may 2942
amend such rules of procedure and bylaws for the conduct of its affairs 2943
as it deems appropriate. It shall establish (1) a standing committee on 2944
land use and management to consult with the authority on all matters 2945
of land use and management, including acquisition and sale, 2946
recreational use, cutting of timber and other products, mining and 2947
quarrying; (2) a standing committee on finance to consult with the 2948
authority on matters relating to financial and budgetary matters and the 2949
establishment of rates; and (3) a standing committee on consumer affairs 2950
to consult with the authority and the officer of consumer affairs 2951
established pursuant to section 48 of this act on matters concerning the 2952
interests of people residing within the district. The Aquarion 2953
representative policy board may appoint such other committees as it 2954
considers convenient from time to time. 2955
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Sec. 38. (a) A public corporation, to be known as the "Aquarion Water 2956
Authority", constituting a public instrumentality and political 2957
subdivision, is created for the purposes, charged with the duties and 2958
granted the powers provided in section 34 to 65, inclusive, of this act. 2959
On and after December 31, 2025, the authority shall consist of eleven 2960
members. Five of the members shall be residents of the Aquarion 2961
Regional Water District who are appointed by the Aquarion 2962
representative policy board and shall not be members of the Aquarion 2963
representative policy board, and six of the members shall be members 2964
of the South Central Connecticut Regional Water Authority who are 2965
appointed by the South Central Connecticut Regional Water Authority 2966
representative policy board. The eleven members of the board for the 2967
Aquarion Water Authority shall be and remain the same eleven 2968
members of the board of the South Central Connecticut Water 2969
Authority. All authority board members shall be appointed without 2970
regard to political affiliation by a majority of the total votes of those 2971
members of the Aquarion representative policy board present at a 2972
meeting at which at least two-thirds of the weighted vote, excluding 2973
vacancies, is present, for terms of five years, not to exceed four 2974
consecutive full terms, and until their successors are appointed and 2975
have qualified, except that of the members first appointed, two shall be 2976
appointed for a term ending January 1, 2026, two for a term ending 2977
January 1, 2027, two for a term ending January 1, 2028, two for a term 2978
ending January 1, 2029, and three for a term ending January 1, 2030. Any 2979
vacancy occurring on the authority shall be filled in the same manner 2980
for the unexpired portion of the term. Any member of the authority may 2981
be removed from office by the Aquarion representative policy board for 2982
cause. Members of the authority shall receive such compensation, to be 2983
adjusted every three years by the Consumer Price Index factor, as 2984
described in section 37 of this act, if approved by the majority of 2985
weighted votes of the membership of the Aquarion representative 2986
policy board, excluding vacancies, and shall be reimbursed for their 2987
necessary expenses incurred in performance of their duties. 2988
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(b) Notwithstanding the provisions of subsection (a) of this section, 2989
no members shall be appointed to the board of the authority or the 2990
Aquarion representative policy board until the date of the Public 2991
Utilities Regulatory Authority's approval of the South Central 2992
Connecticut Regional Water Authority or the Aquarion Water 2993
Authority to own and operate the Aquarion Water Company or one or 2994
more of its subsidiaries. 2995
Sec. 39. The duration of the Aquarion representative policy board and 2996
of the authority shall be perpetual unless terminated or altered by act of 2997
the General Assembly, provided the General Assembly shall not 2998
terminate the existence of the authority until all of its liabilities have 2999
been met and its bonds have been paid in full or such liabilities and 3000
bonds have otherwise been discharged. 3001
Sec. 40. The officers of the authority shall be a chairman and a vice-3002
chairman, who shall be members of the authority, and a treasurer and a 3003
secretary, who may be members of the authority. The first chairman and 3004
vice-chairman shall be the chairman and vice-chairman of the South 3005
Central Connecticut Regional Water Authority, who shall each serve for 3006
two-year terms, and each subsequent chairman and vice-chairman shall 3007
be elected by the authority for two-year terms. All other officers shall be 3008
elected by the authority for one-year terms. The treasurer shall execute 3009
a bond conditioned upon the faithful performance of the duties of his 3010
office, the amount and sufficiency of which shall be approved by the 3011
authority and the premium therefor shall be paid by the authority. The 3012
authority shall, from time to time, appoint an agent for the service of 3013
process, and shall notify the secretary of the state of the same and 3014
address of said agent. 3015
Sec. 41. The authority may employ such persons as it may determine 3016
to be necessary or convenient for the performance of its duties and may 3017
fix and determine their qualifications, duties and compensation, 3018
provided the chief executive officer shall be the chief executive officer of 3019
the South Central Connecticut Regional Water Authority. The authority 3020
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shall establish a position with ongoing responsibilities for the use and 3021
management of its land resources and such other senior managerial 3022
positions as it deems appropriate, which shall be filled by appointment 3023
by the chief executive officer with the approval of the authority. The 3024
authority may also, from time to time, contract for professional services. 3025
Sec. 42. The authority shall meet at least quarterly. Except as the 3026
bylaws of the authority may provide in emergency situations, the 3027
powers of the authority shall be exercised by the members at a meeting 3028
duly called and held. On and after December 31, 2025, six members shall 3029
constitute a quorum, and no action shall be taken except pursuant to the 3030
affirmative vote of a quorum. The authority may delegate to one or more 3031
of its members, officers, agents or employees such powers and duties as 3032
it may deem proper. 3033
Sec. 43. Except in the event of an emergency, whenever a public 3034
hearing is required under sections 34 to 65, inclusive, of this act, notice 3035
of such hearing shall be published by the Aquarion representative 3036
policy board at least twenty days before the date set therefor, in a 3037
newspaper or newspapers having a general circulation in each city and 3038
town comprising the district. In the event of an emergency, notice of 3039
such hearing shall be authorized by the chairman of the Aquarion 3040
representative policy board and published in such newspaper or 3041
newspapers at least seven days before the date set therefor. If there is no 3042
such newspaper, such notice shall be published in one or more 3043
electronic media, including, without limitation, the authority's Internet 3044
web site, as are likely to reach a broad segment of persons within the 3045
district. Such notice shall set forth the date, time and place of such 3046
hearing and shall include a description of the matters to be considered 3047
at such hearing. A copy of the notice shall be filed in the office of the 3048
clerk of each such city and town and shall be available for inspection by 3049
the public. At such hearings, all the users of the water supply system or 3050
the wastewater system, owners of property served or to be served and 3051
other interested persons shall have an opportunity to be heard 3052
concerning the matter under consideration. When appropriate, the 3053
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chairman of the Aquarion representative policy board may convene 3054
more than one hearing on any matter and direct such hearings to be held 3055
in suitable locations within the district so as to assure broader 3056
participation by the general public in discussion of the matters under 3057
consideration, provided in the case of the sale or transfer of real 3058
property pursuant to section 51 of this act, a public hearing shall be held 3059
in the city or town in which such real property is situated. Any decision 3060
of the Aquarion representative policy board on matters considered at 3061
such public hearing shall be in writing and shall be published in a 3062
newspaper or newspapers having a general circulation in each city and 3063
town comprising the district within thirty days after such decision is 3064
made. For purposes of this section, "emergency" means a determination 3065
by the chief executive officer of the authority, the chairman of the 3066
authority and the chairman of the Aquarion representative policy board, 3067
or their designees, that (1) delay in the award of a contract or the 3068
expenditure of capital funds may threaten the public's safety or place 3069
property at risk, (2) immediate action is necessary to respond to or 3070
recover from a natural disaster or invasion or other hostile action, or (3) 3071
immediate action is necessary to respond to an event threatening or 3072
compromising the integrity of the authority's information systems and 3073
associated infrastructure. 3074
Sec. 44. Subject to the provisions of sections 34 to 65, inclusive, of this 3075
act, the authority shall have the power: (a) To sue and be sued; (b) to 3076
have a seal and alter the same at its pleasure; (c) to acquire in the name 3077
of the authority by purchase, lease or otherwise and to hold and dispose 3078
of personal property or any interest therein, including shares of stock of 3079
a subsidiary corporation; (d) to acquire in the name of the authority by 3080
purchase, lease or otherwise and to hold and dispose of any real 3081
property or interest therein, including water rights and rights of way 3082
and water discharge rights, which the authority determines to be 3083
necessary or convenient, and to acquire any existing wastewater system 3084
or water supply system or parts thereof which are wholly or partially 3085
within the district as described under section 36 of this act. As a means 3086
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of so acquiring, the authority or a subsidiary corporation may purchase 3087
all of the stock or all of any part of the assets and franchises of any 3088
existing privately owned water or wastewater company, whereupon the 3089
authority or such subsidiary corporation shall succeed to all rights, 3090
powers and franchises thereof. Sections 16-43, 16-50c and 16-50d of the 3091
general statutes shall not apply to any action by the authority or a 3092
subsidiary corporation or any action by any privately owned water 3093
company or sewage company, as defined in section 16-1 of the general 3094
statutes, taken to effectuate the acquisition of the stock or all or any part 3095
of the assets and franchises of such water company or sewage company 3096
by the authority. Notwithstanding any provision of section 25-32 of the 3097
general statutes, land may be transferred to the authority or a subsidiary 3098
corporation of the authority as part of such an acquisition; (e) to 3099
construct and develop any water supply system or any wastewater 3100
system; (f) to own, operate, maintain, repair, improve, construct, 3101
reconstruct, replace, enlarge and extend any of its properties; (g) 3102
notwithstanding any provision of the general statutes, special acts or 3103
this charter, but subject to the provisions of section 45 of this act, to sell 3104
water, however acquired, to customers within the district or to any 3105
municipality or water company; (h) notwithstanding any provision of 3106
the general statutes, special acts or this charter, to purchase water 3107
approved by the Commissioner of Public Health from any person, 3108
private corporation or municipality when necessary or convenient for 3109
the operation of any water supply system operated by the authority; (i) 3110
to adopt and amend bylaws, rules and regulations for the management 3111
and regulation of its affairs and for the use and protection of the water 3112
and properties of the authority or a subsidiary corporation and, subject 3113
to the provisions of any resolution authorizing the issuance of bonds, 3114
rules for the sale of water, the collection and processing of wastewater 3115
and the collection of rents and charges for both water supply and 3116
wastewater functions. A copy of such bylaws, rules and regulations and 3117
all amendments thereto, certified by the secretary of the authority, shall 3118
be filed in the office of the Secretary of the State and with the clerk of 3119
each town and city within the district. Any superior court located within 3120
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the district shall have jurisdiction over any violation of such bylaws, 3121
rules or regulations and the authority may prosecute actions before the 3122
superior court to enforce such bylaws, rules and regulations; (j) to make 3123
contracts and to execute all necessary or convenient instruments, 3124
including evidences of indebtedness, negotiable or non-negotiable; (k) 3125
to borrow money, to issue negotiable bonds or notes, to fund and refund 3126
the same and to provide for the rights of the holders of the authority's 3127
obligations; (l) to open the grounds in any public street or way or public 3128
grounds for the purpose of laying, installing, maintaining or replacing 3129
pipes and conduits, provided upon the completion of such work the 3130
grounds shall be restored to the condition they were in previously; (m) 3131
to enter into cooperative agreements with other water authorities, 3132
municipalities, water districts, water companies or water pollution 3133
control authorities within or without the district for interconnection of 3134
facilities, for exchange or interchange of services and commodities or for 3135
any other lawful purpose necessary or desirable to effect the purposes 3136
of sections 34 to 65, inclusive, of this act, such agreements to be binding 3137
for a period specified therein; (n) to acquire, hold, develop and maintain 3138
land and other real estate and waters for conservation and for 3139
compatible active and passive recreational purposes and to levy charges 3140
for such uses, provided the state department of health finds that such 3141
uses will not harm the quality of water provided by the authority; (o) to 3142
apply for and accept grants, loans or contributions from the United 3143
States, the state of Connecticut or any agency, instrumentality or 3144
subdivision of either of them or from any person, and to expend the 3145
proceeds for any of its purposes; (p) to create programs and policies for 3146
the purpose of conserving water; (q) to do any and all things necessary 3147
or convenient to carry out the powers expressly given in sections 34 to 3148
36, inclusive, of this act and sections 38 to 40, inclusive, of this act, 3149
including the powers granted by the general statutes to stock 3150
corporations, except the power to issue stock, and the powers granted 3151
by the general statutes to water pollution control authorities; and (r) to 3152
borrow money, to issue negotiable bonds or notes, to fund and refund 3153
the same and to provide for the rights of the holders of the authority's 3154
Bill No.
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obligations for the specific purpose of acquiring the Aquarion Water 3155
Company or one or more of its subsidiaries. 3156
Sec. 45. The authority shall not sell water to customers in any part of 3157
the district with respect to which any person, any firm or any 3158
corporation incorporated under the general statutes or any special act 3159
has been granted a franchise to operate as a water company, as defined 3160
in section 16-1 of the general statutes, or in which any town, city or 3161
borough or any district organized for municipal purposes operates a 3162
municipal water supply system, unless the legislative body of such 3163
town, city, borough or district, such person, or the governing board of 3164
such firm or corporation shall consent in writing to such sale by the 3165
authority. The authority shall not extend wastewater services into new 3166
areas previously unserved without the approval of either the legislative 3167
body of the town, city, borough or district in which such area is located 3168
or a duly authorized water pollution control authority. 3169
Notwithstanding the provisions of any town or district charter, any 3170
town or district may sell or transfer a wastewater system to the authority 3171
with the approval of the legislative body of such town or district after a 3172
public hearing. 3173
Sec. 46. (a) Except with respect to (1) any real or personal property or 3174
interest therein, the legal title to which is vested in the state or a political 3175
subdivision thereof, (2) any existing water supply system, or (3) any 3176
existing wastewater system, if such authority cannot agree with any 3177
owner upon the terms of acquisition by the authority of any real or 3178
personal property or interest therein which the authority is authorized 3179
to acquire, the authority may proceed, at its election, in the manner 3180
provided in subsection (b) of this section or in the manner provided in 3181
subsection (c) of this section, except that the authority may not proceed 3182
in the manner described in subsections (b) and (c) of this section with 3183
respect to property to be acquired for noncore businesses. 3184
(b) The authority may, after ten days' written notice to such owner, 3185
petition the superior court for the county or judicial district in which 3186
Bill No.
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such property is located, or, if said court is not then sitting, any judge of 3187
said court, and thereupon said court or such judge shall appoint a 3188
committee of three disinterested persons, who shall be sworn before 3189
commencing their duties. Such committee, after giving reasonable 3190
notice to the parties, shall view the property in question, hear the 3191
evidence, ascertain the value, assess just damages to the owner or 3192
parties interested in the property and report its doings to said court or 3193
such judge. Within fourteen days after such report is made to said court 3194
or such judge, any party may move for the acceptance thereof. Said court 3195
or such judge may accept such report or may reject it for irregular or 3196
improper conduct by the committee in the performance of its duties. If 3197
the report is rejected, the court or judge shall appoint another 3198
committee, which shall proceed in the same manner as did the first 3199
committee. If the report is accepted, such acceptance shall have the effect 3200
of a judgment in favor of the owner of the property against said 3201
authority for the amount of such assessment, and, except as otherwise 3202
provided by law, execution may issue therefor. Such property shall not 3203
be used by such authority until the amount of such assessment has been 3204
paid to the party to whom it is due or deposited for his use with the state 3205
treasurer and, upon such payment or deposit, such property shall 3206
become the property of the authority; provided, if at any stage of 3207
condemnation proceedings brought hereunder, it appears to the court 3208
or judge before whom such proceedings are pending that the public 3209
interest will be prejudiced by delay, said court or such judge may direct 3210
that the authority be permitted to enter immediately upon the property 3211
to be taken and devote it temporarily to the public use specified in such 3212
petition upon the deposit with said court of a sum to be fixed by said 3213
court or such judge, upon notice to the parties of not less than ten days, 3214
and such sum when so fixed and paid shall be applied so far as it may 3215
be necessary for the purpose of the payment of any award of damages 3216
which may be made, with interest thereon from the date of the order of 3217
said court or judge, and the remainder if any returned to the authority. 3218
If such petition is dismissed or no award of damages is made, said court 3219
or such judge shall direct that the money so deposited, so far as it may 3220
Bill No.
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be necessary, shall be applied to the payment of any damages that the 3221
owner of such property or other parties in interest may have sustained 3222
by such entry upon and use of such property, and of the costs and 3223
expenses of such proceedings, such damages to be ascertained by said 3224
court or such judge or a committee to be appointed for that purpose, and 3225
if the sum so deposited is insufficient to pay such damages and all costs 3226
and expenses so awarded, judgment shall be entered against the 3227
authority for the deficiency, to be enforced and collected in the same 3228
manner as a judgment by the superior court; and the possession of such 3229
property shall be restored to the owner or owners thereof. The expenses 3230
or costs of any such proceedings shall be taxed by said court or such 3231
judge and paid by the authority. 3232
(c) The authority, in its name, may proceed in the manner specified 3233
for redevelopment agencies in accordance with sections 8-128 to 8-133, 3234
inclusive, of the general statutes. 3235
Sec. 47. With the approval of the Aquarion representative policy 3236
board, the authority shall establish just and equitable rates or charges 3237
for the use of the water supply system and the wastewater system 3238
authorized herein, to be paid by any customer, including rates of 3239
interest on unpaid rates or charges, and may change such rates, charges 3240
or rates of interest from time to time. Such water supply system rates or 3241
charges shall be established so as to provide funds sufficient in each 3242
year, with other water supply related revenues, if any, (a) to pay the cost 3243
of maintaining, repairing and operating the water supply system and 3244
each and every portion thereof, to the extent that adequate provision for 3245
the payment of such cost has not otherwise been made, (b) to pay the 3246
principal of and the interest on outstanding water supply bonds of the 3247
authority as the same shall become due and payable, (c) to meet any 3248
requirements of any resolution authorizing, or trust agreement 3249
securing, such bonds of the authority, (d) to make payments in lieu of 3250
taxes as provided in section 54 of this act, as the same become due and 3251
payable, upon the water supply system properties of the authority or of 3252
a subsidiary corporation to the municipalities in which such properties 3253
Bill No.
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are situated, (e) to provide for the maintenance, conservation and 3254
appropriate recreational use of the land of the authority, and (f) to pay 3255
all other reasonable and necessary expenses of the authority and of the 3256
Aquarion representative policy board to the extent that such expenses 3257
are allocable to the water supply system activities of the authority and 3258
the Aquarion representative policy board. Such wastewater system 3259
rates or charges shall be established so as to provide funds sufficient in 3260
each year with other wastewater related revenues, if any, (1) to pay the 3261
cost of maintaining, repairing and operating the wastewater system and 3262
each and every portion thereof, to the extent that adequate provision for 3263
the payment of such cost has not otherwise been made, (2) to pay the 3264
principal of and the interest on outstanding wastewater bonds of the 3265
authority as the same shall become due and payable, (3) to meet any 3266
requirements of any resolution authorizing, or trust agreement 3267
securing, such bonds of the authority, and (4) to pay all other reasonable 3268
and necessary expenses of the authority and of the Aquarion 3269
representative policy board to the extent that such expenses are 3270
allocable to the wastewater activities of the authority and of the 3271
Aquarion representative policy board. No such rate or charge shall be 3272
established until it has been approved by the Aquarion representative 3273
policy board, after said board has held a public hearing at which all the 3274
users of the waterworks system or the wastewater system, the owners 3275
of property served or to be served and others interested have had an 3276
opportunity to be heard concerning such proposed rate or charge. The 3277
Aquarion representative policy board shall approve such rates and 3278
charges unless it finds that such rates and charges will provide funds in 3279
excess of the amounts required for the purposes described previously in 3280
this section, or unless it finds that such rates and charges will provide 3281
funds insufficient for such purposes. The rates or charge, so established 3282
for any class of users or property served, shall be extended to cover any 3283
additional premises thereafter served which are within the same class, 3284
without the necessity of a hearing thereon. Any change in such rates or 3285
charges shall be made in the same manner in which they were 3286
established. The rates or charges levied upon any customer of any water 3287
Bill No.
LCO No. 6185 107 of 137
supply system shall not be required to be equalized with the authority's 3288
existing rates, but may be set on a separate basis, provided such rates 3289
are just, equitable and nondiscriminatory. Such rates or charges, if not 3290
paid when due, shall constitute a lien upon the premises served and a 3291
charge against the owners thereof, which lien and charge shall bear 3292
interest not to exceed the maximum rate as would be allowed for unpaid 3293
taxes. Such lien shall take precedence over all other liens or 3294
encumbrances except taxes and may be foreclosed against the lot or 3295
building served in the same manner as a lien for taxes, provided all such 3296
liens shall continue until such time as they shall be discharged or 3297
foreclosed by the authority without the necessity of filing certificates of 3298
continuation, but in no event for longer than fifteen years. The amount 3299
of any such rate or charge that remains due and unpaid after twenty-3300
eight days, which number of days may be changed with the approval of 3301
the majority of the weighted votes of the membership of the Aquarion 3302
representative policy board, excluding vacancies, with interest thereon 3303
at a rate approved by the Aquarion representative policy board but not 3304
to exceed the maximum interest rate allowed pursuant to the 3305
Connecticut general statutes for unpaid property taxes and with 3306
reasonable attorneys' fees, be recovered by the authority in a civil action 3307
in the name of the authority against such owners. Any municipality 3308
shall be subject to the same rate or charges under the same conditions as 3309
other users of the water supply system or the wastewater system. The 3310
assets or the revenues of the water system shall not be available to 3311
satisfy debts, judgments or other obligations arising out of the operation 3312
of the wastewater system and the assets or the revenues of the 3313
wastewater system shall not be available to satisfy debts, judgments or 3314
other obligations arising out of the operation of the water system. 3315
Sec. 48. The office of consumer affairs established by the 3316
representative policy board of the South Central Connecticut Regional 3317
Water District shall act as the advocate for consumer interests in all 3318
matters which may affect consumers of the Aquarion Regional Water 3319
District, including without limitation matters of rates, water quality and 3320
Bill No.
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supply and wastewater service quality and shall have those powers and 3321
authorizations set forth in section 15 of special act 77-98, as amended by 3322
section 8 of special act 99-12 and section 11 of special act 02-85, as 3323
amended by this act. The costs of such office of consumer affairs, unless 3324
otherwise provided by the state, shall be jointly shared paid by the 3325
South Central Connecticut Regional Water Authority and the Aquarion 3326
Water Authority. 3327
Sec. 49. All contracts in excess of fifty thousand dollars for any 3328
supplies, materials, equipment, construction work or other contractual 3329
services shall be in writing and shall be awarded upon either sealed bids 3330
or proposals or electronic submission of bids or proposals, and in each 3331
case made in compliance with a public notice duly advertised by 3332
publication in one or more newspapers of general circulation or, if there 3333
are no such newspapers, in appropriate electronic media, including, 3334
without limitation, the authority's Internet web site, as are likely to reach 3335
a broad segment of potential vendors, at least ten days before the time 3336
fixed for review of said bids or proposals, except for (1) contracts for 3337
professional services, (2) when the supplies, materials, equipment or 3338
work can only be furnished by a single party, (3) when the authority 3339
determines by a two-thirds vote of the entire authority that the award 3340
of such contract by negotiation without public bidding will be in the best 3341
interest of the authority, or (4) when the procurement is made as a result 3342
of participation in a procurement group, alliance or consortium made 3343
up of other state or federal government entities in which the state of 3344
Connecticut is authorized to participate. The authority may in its sole 3345
discretion reject all such bids or proposals or any bids received from a 3346
person, firm or corporation the authority finds to be unqualified to 3347
perform the contract, and shall award such contract to the lowest 3348
responsible bidder qualified to perform the contract. 3349
Sec. 50. (a) If any member or employee of the Aquarion representative 3350
policy board or of the authority or any employee of a subsidiary 3351
corporation or an affiliated business entity is financially interested in or 3352
has any personal beneficial interest, directly or indirectly, in any 3353
Bill No.
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proposed contract or proposed purchase order for any supplies, 3354
materials, equipment or contractual services to be furnished to or used 3355
by the Aquarion representative policy board, the authority, a subsidiary 3356
corporation or an affiliated business entity such member or employee 3357
shall immediately so inform the Aquarion representative policy board, 3358
the authority, the subsidiary corporation or the affiliated business entity 3359
whichever he or she is a member or employee of, and shall take no part 3360
in the deliberations or vote concerning such contract or purchase order. 3361
The Aquarion representative policy board, as to its members and 3362
employees, and the subsidiary corporation or affiliated business entity 3363
as to its employees, the authority, as to its members and employees, may 3364
terminate the membership or employment of any person who violates 3365
this subsection. 3366
(b) No member or employee of the Aquarion representative policy 3367
board, the authority, a subsidiary corporation or an affiliated business 3368
entity shall accept or receive, directly or indirectly, from any person, 3369
firm or corporation to which any contract or purchase order may be 3370
awarded, by rebate, gift or otherwise, any promise, obligation or 3371
contract for future reward or compensation or any money or anything 3372
of value in excess of ten dollars, provided the aggregate value of all such 3373
things provided by a donor to a recipient in any calendar year shall not 3374
exceed fifty dollars and, excluding any food or beverage or food and 3375
beverage, costing less than fifty dollars in the aggregate per recipient in 3376
a calendar year, and consumed on an occasion or occasions at which the 3377
person paying, directly or indirectly, for the food or beverage, or his 3378
representative, is in attendance. Any person who violates any provision 3379
of this subsection shall be fined not more than five hundred dollars or 3380
imprisoned for not more than six months or both. 3381
Sec. 51. (a) Notwithstanding any provision of sections 34 to 65, 3382
inclusive, of this act, the authority shall not sell or otherwise transfer any 3383
unimproved real property or any interest or right therein, except for 3384
access or utility purposes, or develop such property for any use not 3385
directly related to a water supply function, other than for public 3386
Bill No.
LCO No. 6185 110 of 137
recreational use not prohibited by section 25-43c of the general statutes, 3387
until the land use standards and disposition policies required by 3388
subsection (b) of this section have been approved by the Aquarion 3389
representative policy board, unless the chief executive officer of the 3390
town or city in which such property is located has approved such sale, 3391
transfer or development in writing. The provisions of this section shall 3392
not apply to any portion of a wastewater system. 3393
(b) Within two years from the date it acquires all or part of a water 3394
supply system, the authority shall develop and submit to the Aquarion 3395
representative policy board for approval (1) standards for determining 3396
the suitability of its real property for categories of land use, including 3397
which, if any, of its real property may be surplus with regard to the 3398
purity and adequacy of both present and future water supply, which, if 3399
any, may be desirable for specified modes of recreation or open space 3400
use and which may be suitable for other uses, giving due consideration 3401
to the state plan of conservation and development, to classification and 3402
performance standards recommended in the final report of the council 3403
on water company lands pursuant to subsection (c) of section 16-49c of 3404
the general statutes and to such other plans and standards as may be 3405
appropriate, and (2) policies regarding the disposition of its real 3406
property including identification of dispositions which are unlikely to 3407
have any significant effect on the environment. Prior to approving any 3408
standards or policies specified in this subsection, the Aquarion 3409
representative policy board shall hold one or more public hearings to 3410
consider the proposed standards and policies. The proposed standards 3411
and policies shall be available for public inspection in the offices of the 3412
authority from the date notice of such hearing is published. The 3413
authority may amend such standards and policies from time to time 3414
with the approval of the Aquarion representative policy board, which 3415
shall hold public hearings if it deems such amendments substantial. 3416
(c) After approval of land use standards and disposition policies in 3417
the manner provided in subsection (b) of this section, the authority shall 3418
not: (1) Sell or otherwise transfer any real property or any interest or 3419
Bill No.
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right therein, except (A) for access, (B) for utility purposes, or (C) to 3420
dedicate land as open space by conveying a conservation restriction, as 3421
defined in section 47-42a of the general statutes, to the federal, state or a 3422
municipal government or a nonprofit land-holding organization, as 3423
defined in section 47-6b of the general statutes, or (2) develop such 3424
property for any use not directly related to a water supply function, 3425
other than for public recreational use not prohibited by section 25-43c of 3426
the general statutes, without the approval of a majority of the weighted 3427
votes of all of the members of the Aquarion representative policy board, 3428
excluding vacancies, in the case of a parcel of twenty acres or less, and 3429
by three-fourths of the weighted votes of all of the members of said 3430
board, excluding vacancies, in the case of a parcel in excess of twenty 3431
acres. The Aquarion representative policy board shall not approve such 3432
sale or other transfer or development unless it determines, following a 3433
public hearing, that the proposed action (A) conforms to the established 3434
standards and policies of the authority, (B) is not likely to affect the 3435
environment adversely, particularly with respect to the purity and 3436
adequacy of both present and future water supply, and (C) is in the 3437
public interest, giving due consideration, among other factors, to the 3438
financial impact of the proposed action on the customers of the 3439
authority and on the municipality in which the real property is located. 3440
(d) Each request by the authority for approval pursuant to subsection 3441
(c) of this section shall be accompanied by an evaluation of the potential 3442
impact of the proposed action for which approval is requested, which 3443
shall include: (1) A description of the real property and its environment, 3444
including its existing watershed function and the costs to the authority 3445
of maintaining such property in its current use, (2) a statement that the 3446
proposed action conforms to the land classification standards and 3447
disposition policies of the authority, (3) a detailed statement of the 3448
environmental impact of the proposed action and, if appropriate, of any 3449
alternatives to the proposed action, considering (A) direct and indirect 3450
effects upon the purity and adequacy of both present and future water 3451
supply, (B) the relationship of the proposed action to existing land use 3452
Bill No.
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plans, including municipal and regional land use plans and the state 3453
plan of conservation and development, (C) any adverse environmental 3454
effects which cannot be avoided if the proposed action is implemented, 3455
(D) any irreversible and irretrievable commitments of resources which 3456
would be involved should the proposed action be implemented, and (E) 3457
any mitigation measures proposed to minimize adverse environmental 3458
impacts; except that for a sale or transfer identified in accordance with 3459
subsection (b) of this section as being unlikely to have any significant 3460
effect on the environment, the authority may submit a preliminary 3461
assessment of the impact likely to occur in lieu of such detailed 3462
statement of environmental impact, and the Aquarion representative 3463
policy board may, on the basis of such preliminary assessment, waive 3464
or modify the requirements for such detailed statement, and (4) a 3465
summary of the final evaluation and recommendation of the authority. 3466
(e) The Aquarion representative policy board shall submit the 3467
evaluation required by subsection (d) of this section for comment and 3468
review, at least sixty days in advance of the public hearing, to the 3469
department of health, the department of planning and energy policy, 3470
the regional planning agency for the region, the chief executive officer 3471
of the city or town in which the real property is situated and other 3472
appropriate agencies, and shall make such evaluation available to the 3473
public for inspection. The decision of the Aquarion representative policy 3474
board approving or disapproving the proposed action shall be 3475
published in a newspaper or newspapers having a general circulation 3476
within the district and copies of such decision shall be filed with the 3477
clerk of each town and city in the district. 3478
(f) Whenever the authority intends to sell or otherwise transfer any 3479
unimproved real property or any interest or right therein after approval 3480
by the Aquarion representative policy board, the authority shall first 3481
notify in writing, by certified mail, return receipt requested, the 3482
Commissioner of Energy and Environmental Protection and the 3483
legislative body of the city or town in which such land is situated, of 3484
such intention to sell or otherwise transfer such property and the terms 3485
Bill No.
LCO No. 6185 113 of 137
of such sale or other transfer, and no agreement to sell or otherwise 3486
transfer such property may be entered into by the authority except as 3487
provided in this subsection. (1) Within ninety days after such notice has 3488
been given, the legislative body of the city or town or the Commissioner 3489
of Energy and Environmental Protection may give written notice to the 3490
authority by certified mail, return receipt requested, of the desire of the 3491
city, town or state to acquire such property and each shall have the right 3492
to acquire the interest in the property which the authority has declared 3493
its intent to sell or otherwise transfer, provided the state's right to 3494
acquire the property shall be secondary to that of the city or town. (2) If 3495
the legislative body of the city or town or the Commissioner of Energy 3496
and Environmental Protection fails to give notice as provided in 3497
subdivision (1) of this subsection or gives notice to the authority by 3498
certified mail, return receipt requested, that the city, town or state does 3499
not desire to acquire such property, the city or town or the state shall 3500
have waived its right to acquire such property in accordance with the 3501
terms of this subsection. (3) Within eighteen months after notice has 3502
been given as provided in subdivision (1) of this subsection by the city 3503
or town or the state of its desire to acquire such property, the authority 3504
shall sell the property to the city or town or the state, as the case may be, 3505
or, if the parties cannot agree upon the amount to be paid therefor, the 3506
city or town or the state may proceed to acquire the property in the 3507
manner specified for redevelopment agencies in accordance with 3508
sections 8-128 to 8-133, inclusive, of the general statutes, provided 3509
property subject to the provisions of subsections (b) and (c) of section 3510
25-32 of the general statutes shall not be sold without the approval of 3511
the department of health. (4) If the city or town or the state fails to 3512
acquire the property or to proceed as provided in said sections within 3513
eighteen months after notice has been given by the city or town or the 3514
state of its desire to acquire the property, such city or town or the state 3515
shall have waived its rights to acquire such property in accordance with 3516
the terms of this subsection. (5) Notwithstanding the provisions of 3517
section 54 of this section, the authority shall not be obligated to make 3518
payments in lieu of taxes on such property for the period from the date 3519
Bill No.
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the city or town gives notice of its desire to acquire such property. (6) 3520
Notwithstanding the provisions of subdivision (4) of this subsection, if 3521
the authority thereafter proposes to sell or otherwise transfer such 3522
property to any person subject to less restrictions on use or for a price 3523
less than that offered by the authority to the city or town and the state, 3524
the authority shall first notify the city or town and the Commissioner of 3525
Energy and Environmental Protection of such proposal in the manner 3526
provided in subdivision (1) of this subsection, and such city or town and 3527
the state shall again have the option to acquire such property and may 3528
proceed to acquire such property in the same manner and within the 3529
same time limitations as are provided in subdivisions (1) to (4), 3530
inclusive, of this subsection. (7) The provisions of this subsection shall 3531
not apply to transfers of real property from the authority to any public 3532
service company. (8) A copy of each notice required by this subsection 3533
shall be sent by the party giving such notice to the clerk of the town or 3534
city in which the real property is situated and such clerk shall make all 3535
such notices part of the appropriate land records. 3536
(g) Nothing contained in this section shall be construed to deprive the 3537
state Department of Public Health of its jurisdiction under section 25-32 3538
of the general statutes. The authority shall notify the state Commissioner 3539
of Public Health of any proposed sale or other transfer of land, or change 3540
or use, as required by said section. 3541
(h) The authority shall use the proceeds of any sale or transfer under 3542
this section solely for capital improvements to its remaining properties, 3543
acquisition of real property or any interest or right therein, retirement 3544
of debt or any combination of such purposes. 3545
(i) The provisions of this section shall apply to any unimproved real 3546
property or any interest or right therein related to the water supply 3547
system whether owned or possessed by the authority or by any 3548
subsidiary corporation. 3549
Sec. 52. The authority shall not (1) acquire, by purchase, lease or 3550
Bill No.
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otherwise any existing water supply system or parts thereof or any 3551
wastewater system or parts thereof, (2) commence any project costing 3552
more than three and one-half million dollars to repair, improve, 3553
construct, reconstruct, enlarge and extend any of its properties or 3554
systems, or (3) acquire or make a subsequent investment in any noncore 3555
business in an amount more than one and one-half million dollars 3556
without the approval, following a public hearing, of a majority of the 3557
total weighted votes of the membership of the Aquarion representative 3558
policy board, excluding vacancies. The dollar amounts specified in 3559
subdivisions (2) and (3) of this section shall be adjusted every three years 3560
by the Consumer Price Index factor, as described in section 37 of this act, 3561
with the approval of a majority of the weighted votes of the membership 3562
of the Aquarion representative policy board, excluding vacancies. 3563
Sec. 53. (a) The authority shall have an annual audit of its accounts, 3564
books and records by a certified public accountant selected by the 3565
Aquarion representative policy board. A copy of the audit shall be filed 3566
in the office of the town clerk in each town within the district and shall 3567
be available for public inspection during the ordinary business hours of 3568
the authority at the principal office of the authority. A concise financial 3569
statement shall be posted annually on the Aquarion Water Authority's 3570
web site. 3571
(b) The attorney general may examine the books, accounts and 3572
records of the authority. 3573
Sec. 54. (a) Neither the authority nor a subsidiary corporation or an 3574
"affiliated business entity" shall be required to pay taxes or assessments 3575
upon any of the properties acquired by it or under its jurisdiction, 3576
control or supervision, provided in lieu of such taxes or assessments the 3577
authority shall make annual payments to each municipality in which it 3578
or a subsidiary corporation owns property related to the water supply 3579
system equal to the taxes which would otherwise be due for the 3580
property of the authority or such subsidiary corporation in such 3581
municipality, excluding any improvements made to or constructed on 3582
Bill No.
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any such real property by the authority or such subsidiary corporation, 3583
provided land owned by the authority or a subsidiary corporation 3584
related to the water supply system shall be assessed in accordance with 3585
section 12-63 of the general statutes, and provided further payments for 3586
property acquired by the authority or a subsidiary corporation during 3587
any tax year shall be adjusted for such fractional year in accordance with 3588
the customary practice in such municipality for adjusting taxes between 3589
the buyer and seller of real property. In addition, the authority or a 3590
subsidiary corporation shall reimburse each such municipality for its 3591
expenses in providing municipal services to any improvements made to 3592
or constructed on any real property by the authority or such subsidiary 3593
corporation within such municipality. As used in this section, 3594
"improvements" does not include water pipes or improvements to water 3595
pipes. 3596
(b) The authority may contest the assessed valuation of any 3597
properties owned by the authority or a subsidiary corporation with 3598
respect to which any payment in lieu of taxes is determined in the same 3599
manner as any owner of real property in such municipality. Payments 3600
in lieu of taxes payable to any municipality shall be paid by the authority 3601
to the municipality upon the date and in the manner provided for the 3602
payment of real property taxes of the municipality. 3603
(c) In the event the authority in any year does not have sufficient 3604
funds to make such payments in lieu of taxes, or any portion of them, as 3605
the same become due and payable, the authority shall adjust its rates 3606
and charges and the Aquarion representative policy board shall 3607
approve such adjustment of rates and charges, after a public hearing 3608
thereon as provided in section 14 of special act 77-98, as amended by 3609
section 6 of special act 78-24, so as to provide funds within one year after 3610
the date on which such payment became due and payable to make such 3611
payment. Any municipality or any holder of bonds or notes of the 3612
authority aggrieved by the failure of the authority to make any payment 3613
in lieu of taxes or portion thereof as the same becomes due and payable 3614
may apply to the superior court for the county in which such 3615
Bill No.
LCO No. 6185 117 of 137
municipality is situated for an order directing the authority to 3616
appropriately increase its rates and charges. 3617
(d) Neither the authority nor a subsidiary corporation shall be 3618
required to pay taxes imposed upon or measured by the receipts or 3619
earnings derived by the authority or such subsidiary corporation 3620
through the ownership or operation of a water supply system, or 3621
imposed as a result of the income, powers, activities or items reflected 3622
on the balance sheet of the authority or such subsidiary corporation. 3623
Sec. 55. (a) The authority, subject to the approval of the Aquarion 3624
representative policy board, shall have the power and is authorized 3625
from time to time to issue its negotiable bonds for any of its corporate 3626
purposes, including incidental expenses in connection therewith, and to 3627
secure the payment of the same by a lien or pledge covering all or part 3628
of its contracts, earnings or revenues. The authority shall have power 3629
from time to time, without the approval of the Aquarion representative 3630
policy board, to refund any bonds by the issuance of new bonds within 3631
the terms of any refunding provisions of its bonds, whether the bonds 3632
to be refunded have or have not matured, and may issue bonds partly 3633
to refund bonds then outstanding and partly for any of its public 3634
purposes. Except as may be otherwise expressly provided by the 3635
authority every issue of bonds by the authority shall be preferred 3636
obligations, taking priority over all other claims against the authority, 3637
including payments in lieu of taxes to any municipality, and payable out 3638
of any moneys, earnings or revenues of the authority, subject only to 3639
any agreements with the holders of particular bonds pledging any 3640
particular moneys, earnings or revenues. Notwithstanding the fact that 3641
the bonds may be payable from a special fund, if they are otherwise of 3642
such form and character as to be negotiable instruments under the terms 3643
of the uniform commercial code, the bonds shall be negotiable 3644
instruments within the meaning of and for all the purposes of the 3645
uniform commercial code, subject only to the provisions of the bonds 3646
for registration. 3647
Bill No.
LCO No. 6185 118 of 137
(b) The bonds shall be authorized by resolution of the authority and 3648
shall bear such date or dates, mature at such time or times, bear interest 3649
at such rates per annum, not exceeding statutory limitations, be payable 3650
at such times, be in such denomination, be in such form, either coupon 3651
or registered, carry such registration privileges, be executed in such 3652
manner, be payable in lawful money of the United States of America, at 3653
such place or places, and be subject to such terms of redemption as such 3654
resolution or resolutions may provide. All bonds of the authority shall 3655
be sold through a negotiated sale or a public sale to the bidder who shall 3656
offer the lowest true interest cost to the authority, to be determined by 3657
the authority. 3658
(c) Any resolution or resolutions authorizing any bonds or any issue 3659
of bonds may contain provisions which shall be a part of the contract 3660
with the holders of the bonds thereby authorized as to (1) pledging all 3661
or any part of the moneys, earnings, income and revenues derived from 3662
all or any part of the properties of the authority to secure the payment 3663
of the bonds or of any issue of the bonds subject to such agreement with 3664
the bondholders as may then exist, (2) the rates, rentals, fees and other 3665
charges to be fixed and collected and the amounts to be raised in each 3666
year thereby, and the use and disposition of the earnings and other 3667
revenues, (3) the setting aside of reserves and the creation of sinking 3668
funds and the regulation and disposition thereof, (4) limitations on the 3669
rights of the authority to restrict and regulate the use of the properties 3670
in connection with which such bonds are issued, (5) limitations on the 3671
purposes to which, and the manner in which, the proceeds of sale of any 3672
issue of bonds may be applied, (6) limitations on the issuance of 3673
additional bonds, the terms upon which additional bonds may be issued 3674
and secured, and the refunding of outstanding or other bonds, (7) the 3675
procedure, if any, by which the terms of any contract with bondholders 3676
may be amended or abrogated, the amount of bonds the holders of 3677
which must consent thereto and the manner in which such consent may 3678
be given, (8) the creation of special funds into which any earnings or 3679
revenues of the authority may be deposited, (9) the terms and provisions 3680
Bill No.
LCO No. 6185 119 of 137
of any trust deed or indenture securing the bonds or under which bonds 3681
may be issued, (10) definitions of the acts or omission to act which shall 3682
constitute a default in the obligations and duties of the authority to the 3683
bondholders and providing the rights and remedies of the bondholders 3684
in the event of such default, including as a matter of right the 3685
appointment of a receiver, provided such rights and remedies shall not 3686
be inconsistent with the general laws of this state, (11) limitations on the 3687
power of the authority to sell or otherwise dispose of its properties, (12) 3688
any other matters, of like or different character, which in any way affect 3689
the security or protection of the bonds, and (13) limitations on the 3690
amount of moneys derived from the properties to be expended for 3691
operating, administrative or other expenses of the authority. 3692
(d) The authority may obtain from a commercial bank or insurance 3693
company a letter of credit, line of credit or other liquidity facility or 3694
credit facility for the purpose of providing funds for the payments in 3695
respect of bonds, notes or other obligations required by the holder 3696
thereof to be redeemed or repurchased prior to maturity or for 3697
providing additional security for such bonds, notes or other obligations. 3698
In connection therewith, the authority may enter into reimbursement 3699
agreements, remarketing agreements, standby bond purchase 3700
agreements and any other necessary or appropriate agreements. The 3701
authority may pledge all or any part of the moneys, earnings, income 3702
and revenues derived from all or any part of the properties of the 3703
authority and any other property which may be pledged to bondholders 3704
to secure its payment obligations under any agreement or contract 3705
entered into pursuant to this section subject to such agreements with the 3706
bondholders as may then exist. 3707
(e) In connection with or incidental to the carrying of bonds or notes 3708
or in connection with or incidental to the sale and issuance of bonds or 3709
notes, the authority may enter into such contracts to place the obligation 3710
of the authority, as represented by the bonds or notes, in whole or in 3711
part, on such interest rate or cash flow basis as the authority may 3712
determine, including without limitation, interest rate swap agreements, 3713
Bill No.
LCO No. 6185 120 of 137
insurance agreements, forward payment conversion agreements, 3714
contracts providing for payments based on levels of, or changes in, 3715
interest rates or market indices, contracts to manage interest rate risk, 3716
including, without limitation, interest rate floors or caps, options, puts, 3717
calls and similar arrangements. Such contracts shall contain such 3718
payment, security, default, remedy and other terms and conditions as 3719
the authority may deem appropriate and shall be entered into with such 3720
party or parties as the authority may select, after giving due 3721
consideration, where applicable, for the creditworthiness of the 3722
counterparty or counterparties, provided such parties or counterparties 3723
shall be a financial institution whose unsecured long-term obligations 3724
are rated within the top two rating categories of any nationally 3725
recognized rating service. The authority may pledge all or any part of 3726
the moneys, earnings, income and revenues derived from all or any part 3727
of the properties of the authority and any other property which may be 3728
pledged to bondholders to secure its payment obligations under any 3729
agreement or contract entered into pursuant to this section subject to 3730
such agreements with the bondholders as may then exist. 3731
(f) It is the intention of the general assembly that any pledge of 3732
earnings, revenues or other moneys made by the authority shall be valid 3733
and binding from the time when the pledge is made; that the earnings, 3734
revenues or other moneys so pledged and thereafter received by the 3735
authority shall immediately be subject to the lien of such pledge without 3736
any physical delivery thereof or further act, and that the lien of any such 3737
pledge shall be valid and binding as against all parties having claims of 3738
any kind in tort, contract or otherwise against the authority irrespective 3739
of whether such parties have notice thereof. Neither the resolution nor 3740
any other instrument by which a pledge is created need be recorded. 3741
(g) Neither the members of the authority nor any person executing 3742
the bonds shall be liable personally on the bonds or be subject to any 3743
personal liability or accountability by reason of the issuance thereof. 3744
(h) The authority shall have the power out of any funds available to 3745
Bill No.
LCO No. 6185 121 of 137
purchase, as distinguished from the power of redemption above, and all 3746
bonds so purchased shall be cancelled. 3747
(i) In the discretion of the authority, the bonds may be secured by a 3748
trust indenture by and between the authority and a corporate trustee, 3749
which may be any trust company or bank having the powers of a trust 3750
company. Such trust indenture may contain such provisions for 3751
protecting and enforcing the rights and remedies of the bondholders as 3752
may be reasonable and proper and not in violation of any law, including 3753
covenants setting forth the duties of the authority in relation to the 3754
construction, maintenance, operation, repair and insurance of the 3755
properties and the custody, safeguarding and application of all moneys, 3756
and may provide that the properties shall be constructed and paid for 3757
under the supervision and approval of consulting engineers. The 3758
authority may provide by such trust indenture or other depository for 3759
the methods of disbursement thereof, with such safeguards and 3760
restrictions as it may determine. All expenses incurred in carrying out 3761
such trust indenture may be treated as part of the cost of maintenance, 3762
operation and repair of the properties. If the bonds are secured by a trust 3763
indenture, bondholders shall have no authority to appoint a separate 3764
trustee to represent them. 3765
(j) Notwithstanding any other provision of sections 34 to 65, 3766
inclusive, of this act, any resolution or resolutions authorizing bonds or 3767
notes of the authority shall contain a covenant by the authority that it 3768
will at all times maintain rates, fees, rentals or other charges sufficient 3769
to pay, and that any contracts entered into by the authority for the sale 3770
and distribution of water or the collection of wastewater shall contain 3771
rates, fees, rentals or other charges sufficient to pay, the cost of operation 3772
and maintenance of the properties and the principal of and interest on 3773
any obligation issued pursuant to such resolution or resolutions as the 3774
same severally become due and payable, and to maintain any reserves 3775
or other funds required by the terms of such resolution or resolutions. 3776
(k) If any officer of the authority whose signature or a facsimile of 3777
Bill No.
LCO No. 6185 122 of 137
whose signature appears on any bonds or coupons ceases to be such 3778
officer before delivery of such bonds, such signature or such facsimile 3779
shall nevertheless be valid and sufficient for all purposes as if they had 3780
remained in office until such delivery. 3781
Sec. 56. The authority shall have the power and is authorized to issue 3782
negotiable notes and may renew the same from time to time, but the 3783
maximum maturity of any such note, including renewals thereof, shall 3784
not exceed eight years from date of issue of such original note. Such 3785
notes shall be paid from any moneys of the authority available therefor 3786
and not otherwise pledged or from the proceeds of the sale of the bonds 3787
of the authority in anticipation of which they were issued. The notes 3788
shall be issued and may be secured in the same manner as the bonds 3789
and such notes and the resolution or resolutions authorizing such notes 3790
may contain any provisions, conditions or limitations which the bonds 3791
or a bond resolution of the authority may contain. Such notes shall be as 3792
fully negotiable as the bonds of the authority. 3793
Sec. 57. The state of Connecticut does pledge to and agree with the 3794
holders of the bonds or notes of the authority that the state will not limit 3795
or alter the rights vested in the authority to acquire, construct, maintain, 3796
operate, reconstruct and improve the properties, to establish and collect 3797
the revenues, rates, rentals, fees and other charges referred to in sections 3798
34 to 66, inclusive, of this act and to fulfill the terms of any agreements 3799
made with the holders of the bonds or notes, or in any way impair the 3800
rights and remedies of the bondholders or noteholders until the bonds 3801
or notes together with interest thereon, interest on any unpaid 3802
installments of interest and all costs and expenses in connection with 3803
any action or proceeding by or on behalf of the bondholders or 3804
noteholders are fully met and discharged. 3805
Sec. 58. The bonds, notes or other obligations of the authority shall 3806
not be a debt of the state of Connecticut or of any municipality, and 3807
neither the state nor any municipality shall be liable therefor, nor shall 3808
they be payable out of funds other than those of the authority. 3809
Bill No.
LCO No. 6185 123 of 137
Sec. 59. The bonds and notes of the authority shall be securities in 3810
which all public officers and bodies of this state and all municipalities, 3811
all insurance companies and associations and other persons carrying on 3812
an insurance business, all banks, bankers, trust companies, savings 3813
banks, savings and loan associations, investment companies and other 3814
persons carrying on a banking business and all other persons whatever, 3815
except as hereinafter provided, who are now or may be authorized to 3816
invest in bonds or other obligations of the state, may properly and 3817
legally invest funds, including capital in their control or belonging to 3818
them; provided, notwithstanding the provisions of any other general 3819
statute or special act to the contrary, such bonds shall not be eligible for 3820
the investment of funds, including capital, of trusts, estates or 3821
guardianships under the control of individual administrators, 3822
guardians, executors, trustees or other individual fiduciaries. The bonds 3823
shall also be securities that may be deposited with and may be received 3824
by all public officers and bodies of this state and all municipalities and 3825
municipal subdivisions for any purpose for which the deposit of bonds 3826
or other obligations of this state is now or may be authorized. 3827
Sec. 60. The state of Connecticut covenants with the purchasers and 3828
with all subsequent holders and transferees of bonds or notes issued by 3829
the authority, in consideration of the acceptance of and payment for the 3830
bonds or notes, that the bonds and notes of the authority, the income 3831
therefrom and all moneys, funds and revenues pledged to pay or secure 3832
the payment of such bonds or notes shall at all times be free from 3833
taxation. 3834
Sec. 61. Nothing in sections 34 to 65, inclusive, of this act shall be 3835
construed to deprive the Commissioner of Energy and Environmental 3836
Protection, the Commissioner of Public Health or any successor 3837
commissioner or board of any jurisdiction which such commissioners or 3838
boards may now or hereafter have. Neither the Public Utilities 3839
Regulatory Authority nor any successor board or commissioner shall 3840
have jurisdiction of any kind over the authority, a subsidiary 3841
corporation, the Aquarion representative policy board or the rates fixed 3842
Bill No.
LCO No. 6185 124 of 137
or charges collected by the authority. 3843
Sec. 62. Insofar as the provisions of sections 34 to 65, inclusive, of this 3844
act are inconsistent with the provisions of any other general statute, 3845
special act or any municipal ordinance, the provisions of sections 34 to 3846
65, inclusive, of this act shall be controlling; provided nothing contained 3847
in sections 34 to 65, inclusive, of this act shall exempt the authority from 3848
compliance with zoning regulations lawfully established by any 3849
municipality, except that the plants, structures and other facilities of the 3850
water supply system or the wastewater system owned or operated by 3851
the authority shall be permitted uses in all zoning districts in every city, 3852
town or borough within the district; and provided further that the 3853
authority may not construct purification or filtration plants or 3854
wastewater treatment plants in any zoning district in which such use is 3855
not permitted under local zoning regulations without first obtaining 3856
approval of the proposed location of such facility from the Aquarion 3857
representative policy board following a public hearing. 3858
Sec. 63. (a) The authority or any person who is aggrieved by a 3859
decision of the Aquarion representative policy board with respect to the 3860
establishment of rates or charges, the establishment of land use 3861
standards and disposition policies, the sale or other transfer or change 3862
of use of real property, the location of purification, filtration or 3863
wastewater treatment plants, the commencement of any project costing 3864
more than three and one-half million dollars, and as adjusted by the 3865
Consumer Price Index factor, as described in section 37 of this act, and 3866
subject to the approval of a majority of the weighted votes of the 3867
membership of the Aquarion representative policy board, excluding 3868
vacancies, to repair, improve, construct, reconstruct, enlarge or extend 3869
any of the properties or systems of the authority or the acquisition by 3870
purchase, lease or otherwise of any existing water supply system, 3871
wastewater system or part thereof, other than the purchase of all or any 3872
part of the properties and franchises of the Aquarion Water Company, 3873
is entitled to review by the Superior Court as provided in this section. 3874
For the purposes of this section, the holders of any bonds or notes of the 3875
Bill No.
LCO No. 6185 125 of 137
authority and any trustee acting on behalf of such holders shall be 3876
deemed aggrieved persons with respect to any decision of the Aquarion 3877
representative policy board which violates any covenant or other 3878
provision of the resolution or resolutions authorizing such bonds or 3879
notes. 3880
(b) Proceedings for review shall be instituted by filing a petition in 3881
the superior court for the judicial district of Hartford within forty-five 3882
days after publication of the decision of the Aquarion representative 3883
policy board or, if a rehearing is requested, within forty-five days after 3884
the decision thereon. Copies of the petition shall be served upon the 3885
Aquarion representative policy board and published in a newspaper or 3886
newspapers having a general circulation in each town or city 3887
comprising the district. 3888
(c) The filing of the petition shall not of itself stay enforcement of the 3889
decision of the Aquarion representative policy board. The Aquarion 3890
representative policy board may grant, or the reviewing court may 3891
order, a stay upon appropriate terms, provided enforcement of a 3892
decision respecting the establishment of rates or charges may be stayed 3893
only after issuance of a judgment for the appellant by the reviewing 3894
court. 3895
(d) Within thirty days after service of the petition, or within such 3896
further time as may be allowed by the court, the Aquarion 3897
representative policy board shall transmit to the reviewing court the 3898
original or a certified copy of the entire record of the proceeding under 3899
review, which shall include the Aquarion representative policy board's 3900
findings of fact and conclusions of law, separately stated. By stipulation 3901
of all parties to the review proceedings, the record may be shortened. A 3902
party unreasonably refusing to stipulate to limit the record may be taxed 3903
by the court for the additional costs. The court may require or permit 3904
subsequent corrections or additions to the record. 3905
(e) If, before the date set for hearing, application is made to the court 3906
Bill No.
LCO No. 6185 126 of 137
for leave to present additional evidence, and it is shown to the 3907
satisfaction of the court that the additional evidence is material and that 3908
there were good reasons for failure to present it in the proceeding before 3909
the Aquarion representative policy board, the court may refer the case 3910
back to the board with instructions to take such evidence as the court 3911
directs. The Aquarion representative policy board may modify its 3912
findings and decision by reason of the additional evidence and shall file 3913
that evidence and any modifications, new findings, or decisions with the 3914
reviewing court. 3915
(f) The review shall be conducted by the court without a jury and 3916
shall be confined to the record. In cases of alleged irregularities in 3917
procedure before the Aquarion representative policy board, not shown 3918
in the record, proof thereon may be taken in the court. The court, upon 3919
request, shall hear oral argument and receive written briefs. 3920
(g) The court shall not substitute its judgment for that of the Aquarion 3921
representative policy board as to the weight of the evidence on 3922
questions of fact. The court shall affirm the decision of the Aquarion 3923
representative policy board unless the court finds that the substantial 3924
rights of the appellant have been prejudiced because the Aquarion 3925
representative policy board's findings, inferences, conclusions, or 3926
decisions are: (1) In violation of constitutional provisions, the general 3927
statutes or the provisions of this or another special act; (2) in excess of 3928
the authority of the Aquarion representative policy board; (3) made 3929
upon unlawful procedure; (4) affected by other error of law; (5) clearly 3930
erroneous in view of the reliable probative, and substantial evidence on 3931
the whole record; or (6) arbitrary or capricious or characterized by abuse 3932
of discretion or clearly unwarranted exercise of discretion. If the court 3933
finds such prejudice, it shall sustain the appeal and, if appropriate, may 3934
render a judgment under subsection (h) of this section or remand the 3935
case for further proceedings. 3936
(h) If a particular Aquarion representative policy board action is 3937
required by law, the court, on sustaining the appeal, may render a 3938
Bill No.
LCO No. 6185 127 of 137
judgment that modifies the Aquarion representative policy board 3939
decision, orders the Aquarion representative policy board action, or 3940
orders the Aquarion representative policy board to take such action as 3941
may be necessary to effect the particular action. 3942
(i) In any case in which an aggrieved party claims that he cannot pay 3943
the costs of an appeal under this section and will thereby be deprived of 3944
a right to which he is entitled, he shall, within the time permitted for 3945
filing the appeal, file with the clerk of the court to which the appeal is to 3946
be taken an application for waiver of payment of such fees, costs and 3947
necessary expenses, including the requirements of bond, if any. After 3948
such hearing as the court determines is necessary, the court shall enter 3949
its judgment on the application, which judgment shall contain a 3950
statement of the facts the court has found, with its conclusions thereon. 3951
The filing of the application for the waiver shall toll the time limits for 3952
the filing of an appeal until such time as a judgment on such application 3953
is entered. 3954
(j) Neither the authority nor the Aquarion representative policy 3955
board shall be construed to be an agency within the scope of chapter 54 3956
of the general statutes. 3957
Sec. 64. (a) Whenever the authority acquires the property and 3958
franchises of any private water company or companies operating a 3959
water supply system within its district, all employees of such company 3960
or companies who are necessary for the operation of the authority, 3961
except senior managerial officers, shall become employees of the 3962
authority and shall be credited by the authority with all rights that have 3963
accrued as of the date of such acquisition with respect to seniority, sick 3964
leave, vacation, insurance and pension benefits in accordance with the 3965
records, personnel policies or labor agreements of the acquired 3966
company or companies. 3967
(b) The authority shall assume and observe all accrued pension 3968
obligations of such acquired company or companies, and members and 3969
Bill No.
LCO No. 6185 128 of 137
beneficiaries of any pension, retirement or other employee benefit 3970
system established by the acquired company or companies shall 3971
continue to have such rights, privileges, benefits, obligations and status 3972
with respect to such established systems as have accrued as of the date 3973
of such acquisition. The authority may enter into agreements with 3974
representatives of its employees relative to the inclusion of its 3975
employees in any applicable state or municipal employee's retirement 3976
plan or plans, and the authority shall constitute a municipality eligible 3977
to participate in such retirement plans. The authority may enter into 3978
agreements with representatives of its employees relative to the transfer 3979
to or the establishment of pension trust funds under the joint control of 3980
such authority and representatives of its employees, and shall have all 3981
powers necessary to maintain and administer such trust funds jointly 3982
with representatives of its employees. 3983
(c) The authority shall assume and observe all labor contracts of such 3984
company or companies in existence at the time of transfer and all 3985
obligations incurred by such contracts regarding wages, salaries, hours, 3986
sick leave and other leave, working conditions, grievance procedures, 3987
collective bargaining and pension or retirement. 3988
(d) The authority shall assume and observe personnel policies of such 3989
company or companies in existence at the time of transfer relating to 3990
personnel not covered by labor contracts, and all obligations incurred 3991
through such personnel policies regarding wages, salaries, hours, sick 3992
leave, vacation, pension and retirement, subject to such modifications 3993
therein as the authority may subsequently adopt, provided such 3994
modifications shall not affect any rights of such employees which have 3995
vested prior to such modification. 3996
(e) Nothing in this section shall prevent the authority from hiring any 3997
senior managerial officers of such company on such terms as it may 3998
determine or be construed to prohibit the authority from exercising the 3999
normal prerogatives of management with respect to such matters as the 4000
promotion, demotion, assignment, transfer or discharge of its 4001
Bill No.
LCO No. 6185 129 of 137
employees, nor shall the authority be bound by any term of any 4002
personnel policy entered into by such company or companies in 4003
anticipation of acquisition by the authority. 4004
Sec. 65. The relations between the authority and its employees with 4005
respect to collective bargaining and the arbitration of labor disputes 4006
shall be governed by sections 7-467 to 7-477, inclusive, of the general 4007
statutes. 4008
Sec. 42. (Effective from passage) Sections 34 to 41, inclusive, of this act 4009
shall not be effective on and after December 31, 2027, unless the Public 4010
Utilities Regulatory Authority approves the South Central Connecticut 4011
Regional Water Authority or the Aquarion Water Authority to own and 4012
operate the Aquarion Water Company, or one or more of its 4013
subsidiaries, by said date. 4014
Sec. 43. (NEW) (Effective October 1, 2024) (a) As used in this section: 4015
(1) "Actions which may significantly affect the environment" has the 4016
same meaning as provided in section 22a-1c of the general statutes, but 4017
does not include any action that (A) is a major federal action under the 4018
National Environmental Policy Act, 42 USC 4321 et seq., as amended 4019
from time to time, (B) is an undertaking under the National Historic 4020
Preservation Act, 54 USC 300101 et seq., as amended from time to time, 4021
(C) affects an archaeological site, or (D) affects a sacred site; 4022
(2) "Archaeological site" has the same meaning as provided in section 4023
10-381 of the general statutes; 4024
(3) "Historic structures and landmarks" has the same meaning as 4025
provided in section 10-410 of the general statutes; 4026
(4) "Sacred site" has the same meaning as provided in section 10-381 4027
of the general statutes; 4028
(5) "Sponsoring agency" has the same meaning as described in 4029
sections 22a-1 to 22a-1h, inclusive, of the general statutes; 4030
Bill No.
LCO No. 6185 130 of 137
(6) "State entity" means a state department, institution or agency 4031
under sections 22a-1 to 22a-1h, inclusive, of the general statutes; 4032
(7) "State funding recipient" means any person that receives funds 4033
from the state to be used for an activity or a sequence of planned 4034
activities that are subject to the process established by sections 22a-1 to 4035
22a-1h, inclusive, of the general statutes; and 4036
(8) "State Historic Preservation Officer" means the individual 4037
appointed by the Governor pursuant to 54 USC 302301(1), as amended 4038
from time to time, to administer the state historic preservation program 4039
in accordance with 54 USC 302303, as amended from time to time. 4040
(b) Whenever a sponsoring agency requests an initial determination 4041
from the State Historic Preservation Officer, in accordance with sections 4042
22a-1 to 22a-1h, inclusive, of the general statutes, as to whether an 4043
individual activity or a sequence of planned activities proposed to be 4044
undertaken by the sponsoring agency, a state entity or a state funding 4045
recipient, as applicable, is within the category of actions which may 4046
significantly affect the environment because such activity or sequence 4047
of activities could have an impact on the state's historic structures and 4048
landmarks, the officer shall: 4049
(1) In making such initial determination, consider all information 4050
provided by the sponsoring agency, state entity or state funding 4051
recipient, as applicable; and 4052
(2) Make such initial determination not later than thirty days after the 4053
officer receives information the officer deems reasonably necessary to 4054
make such initial determination. 4055
(c) If the State Historic Preservation Officer makes an initial 4056
determination that such individual activity or sequence of planned 4057
activities will not have any effect on historic structures and landmarks, 4058
or is not within the category of actions which may significantly affect 4059
the environment because such activity or sequence of activities will not 4060
Bill No.
LCO No. 6185 131 of 137
have an impact on historic structures and landmarks, the officer shall 4061
provide such determination in writing to the sponsoring agency, state 4062
entity or state funding recipient, as applicable. Such written 4063
determination shall constitute a final determination by the officer for the 4064
purposes of this section. 4065
(d) (1) If the State Historic Preservation Officer makes an initial 4066
determination that such individual activity or sequence of planned 4067
activities will have an effect on historic structures and landmarks, or is 4068
within the category of actions which may significantly affect the 4069
environment because such activity or sequence of activities will have an 4070
impact on historic structures and landmarks, the officer shall, in 4071
collaboration with the sponsoring agency, state entity or state funding 4072
recipient, as applicable, propose a prudent or feasible alternative to such 4073
individual activity or sequence of planned activities to avoid such 4074
impact, if such alternative is possible. 4075
(2) If the State Historic Preservation Officer and the sponsoring 4076
agency, state entity or state funding recipient, as applicable, reach an 4077
agreement regarding such alternative, the officer shall provide to such 4078
sponsoring agency, state entity or state funding recipient, as applicable, 4079
a written determination that such alternative (A) will not have any effect 4080
on historic structures and landmarks, or (B) is not within the category of 4081
actions which may significantly affect the environment because such 4082
activity or sequence of activities will not have an impact on historic 4083
structures and landmarks. Such written determination shall constitute a 4084
final determination by the officer for the purposes of this section. 4085
(3) (A) If the State Historic Preservation Officer and the sponsoring 4086
agency, state entity or state funding recipient, as applicable, cannot 4087
reach an agreement regarding such alternative, the officer shall provide 4088
to such sponsoring agency, state entity or state funding recipient, as 4089
applicable, a written determination that such individual activity or 4090
sequence of planned activities (i) will have an effect on historic 4091
structures and landmarks, or (ii) is within the category of actions which 4092
Bill No.
LCO No. 6185 132 of 137
may significantly affect the environment because such activity or 4093
sequence of activities will have an impact on historic structures and 4094
landmarks. 4095
(B) (i) Notwithstanding subsection (c) of section 22a-1b of the general 4096
statutes, after the State Historic Preservation Officer provides a written 4097
determination under subparagraph (A) of this subdivision, the officer 4098
shall, in collaboration with the sponsoring agency, state entity or state 4099
funding recipient, as applicable, propose a mitigation plan requiring 4100
such sponsoring agency, state entity or state funding recipient, as 4101
applicable, to mitigate such impact. 4102
(ii) The sponsoring agency, state entity or state funding recipient, as 4103
applicable, shall, to the extent possible, submit to the State Historic 4104
Preservation Officer all pertinent information regarding such individual 4105
activity or sequence of planned activities that may affect such mitigation 4106
plan. Such information shall be considered by the officer in the 4107
development of the mitigation plan. 4108
(iii) In establishing the mitigation plan, the State Historic 4109
Preservation Officer shall consult with the Commissioner of Economic 4110
and Community Development, or the commissioner's designee, about 4111
the economic impact of (I) the individual activity or sequence of planned 4112
activities proposed to be undertaken by the sponsoring agency, state 4113
entity or state funding recipient, as applicable, and (II) the mitigation 4114
plan. Any information provided by the commissioner during such 4115
consultation shall be considered by the officer in the development of the 4116
mitigation plan. 4117
(iv) Not later than forty-five days after the State Historic Preservation 4118
Officer receives the information submitted under subparagraph (B)(ii) 4119
of this subdivision, the officer shall memorialize the mitigation plan in 4120
a proposed mitigation agreement that may be executed by the 4121
sponsoring agency, state entity or state funding recipient, as applicable. 4122
If the sponsoring agency, state entity or state funding recipient, as 4123
Bill No.
LCO No. 6185 133 of 137
applicable, executes such proposed mitigation agreement, the officer 4124
shall also execute such proposed mitigation agreement. The execution 4125
of such mitigation agreement shall constitute (I) a determination by the 4126
officer that the officer is satisfied the effect on historic structures and 4127
landmarks will be mitigated pursuant to the terms of such mitigation 4128
agreement, and (II) a final determination by the officer for the purposes 4129
of this section. 4130
(v) At the time the State Historic Preservation Officer provides the 4131
mitigation agreement proposed under subparagraph (B)(iv) of this 4132
subdivision to the sponsoring agency, state entity or state funding 4133
recipient, as applicable, the officer shall notify such sponsoring agency, 4134
state entity or state funding recipient, as applicable, that a request may 4135
be submitted in accordance with the provisions of subdivision (1) of 4136
subsection (e) of this section to the Commissioner of Economic and 4137
Community Development to review such proposed mitigation 4138
agreement. 4139
(e) (1) If the sponsoring agency, state entity or state funding recipient, 4140
as applicable, declines to execute the mitigation agreement proposed 4141
under subparagraph (B)(iv) of subdivision (3) of subsection (d) of this 4142
section, such sponsoring agency, state entity or state funding recipient, 4143
as applicable, may submit, not later than fifteen days after the State 4144
Historic Preservation Officer provides such proposed mitigation 4145
agreement to such sponsoring agency, state entity or state funding 4146
recipient, as applicable, a request to the Commissioner of Economic and 4147
Community Development to review the proposed mitigation agreement 4148
and make recommendations to revise such proposed mitigation 4149
agreement. Such request shall be in the form and manner prescribed by 4150
the commissioner and may include a request for a conference with the 4151
commissioner, the officer, the sponsoring agency, the state entity or the 4152
state funding recipient, as applicable, and any other interested party. 4153
(2) (A) Not later than thirty days after receiving such request, the 4154
commissioner shall (i) if such conference was requested, hold such 4155
Bill No.
LCO No. 6185 134 of 137
conference, and (ii) make recommendations, if any, for revisions to the 4156
proposed mitigation agreement. If such revisions are recommended, the 4157
commissioner's review pursuant to this subsection shall be concluded 4158
and the State Historic Preservation Officer shall include such revisions 4159
in a revised mitigation agreement. Such revised mitigation agreement 4160
may be executed by the sponsoring agency, state entity or state funding 4161
recipient, as applicable. If the sponsoring agency, state entity or state 4162
funding recipient, as applicable, executes such revised mitigation 4163
agreement, the officer shall also execute such revised mitigation 4164
agreement. The execution of such revised mitigation agreement shall 4165
constitute (I) a determination by the officer that the officer is satisfied 4166
the effect on historic structures and landmarks will be mitigated 4167
pursuant to the terms of such revised mitigation agreement, and (II) a 4168
final determination by the officer for the purposes of this section. 4169
(B) If the commissioner makes no recommendations for revisions to 4170
the mitigation agreement, the commissioner's review pursuant to this 4171
subsection shall be concluded. The sponsoring agency, state entity or 4172
state funding recipient, as applicable, may subsequently elect to execute 4173
the mitigation agreement proposed by the State Historic Preservation 4174
Officer under subparagraph (B)(iv) of subdivision (3) of subsection (d) 4175
of this section. If the sponsoring agency, state entity or state funding 4176
recipient, as applicable, executes such proposed mitigation agreement, 4177
the officer shall also execute such proposed mitigation agreement. The 4178
execution of such mitigation agreement shall constitute (i) a 4179
determination by the officer that the officer is satisfied the effect on 4180
historic structures and landmarks will be mitigated pursuant to the 4181
terms of such mitigation agreement, and (ii) a final determination by the 4182
officer for the purposes of this section. 4183
(f) If the State Historic Preservation Officer proposes a mitigation 4184
plan pursuant to subparagraph (B)(i) of subdivision (3) of subsection (d) 4185
of this section but a mitigation agreement is not executed, the 4186
sponsoring agency shall conduct an early public scoping process in 4187
accordance with subsection (b) of section 22a-1b of the general statutes. 4188
Bill No.
LCO No. 6185 135 of 137
(g) Not later than January first, annually, the State Historic 4189
Preservation Officer shall post on the Department of Economic and 4190
Community Development's Internet web site all mitigation agreements 4191
executed during the preceding fiscal year.4192
This act shall take effect as follows and shall amend the following
sections:
Section 1 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
14-33(a)(2)
Sec. 2 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-71d(b)
Sec. 3 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-63(b)
Sec. 4 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-41(b) and (c)
Sec. 5 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-53(a)
Sec. 6 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-71(a)(2)
Sec. 7 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-71(f)(2)
Sec. 8 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-71b
Bill No.
LCO No. 6185 136 of 137
Sec. 9 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-71c(b)
Sec. 10 July 1, 2024, and
applicable to assessment
years commencing on or
after October 1, 2024
12-81(74)
Sec. 11 July 1, 2024 7-152e(a)
Sec. 12 from passage 12-71(f)(7)(B)
Sec. 13 July 1, 2025 12-71e
Sec. 14 July 1, 2024 36a-2
Sec. 15 July 1, 2024 36a-65(e)
Sec. 16 July 1, 2024 36a-70(n) to (u)
Sec. 17 July 1, 2024 36a-139a(a) to (h)
Sec. 18 July 1, 2024 36a-139b(a) to (g)
Sec. 19 July 1, 2024 36a-215
Sec. 20 July 1, 2024 36a-220(a)
Sec. 21 July 1, 2024 36a-221a(a) to (c)
Sec. 22 July 1, 2024 36a-225
Sec. 23 July 1, 2024 36a-226a(a)
Sec. 24 July 1, 2024 36a-237(a) and (b)
Sec. 25 July 1, 2024 36a-237f
Sec. 26 July 1, 2024 36a-237g
Sec. 27 July 1, 2024 36a-237h(a) to (c)
Sec. 28 July 1, 2024 36a-333(a)(2)
Sec. 29 July 1, 2024 36a-609
Sec. 30 from passage New section
Sec. 31 October 1, 2025 38a-48
Sec. 32 July 1, 2024 10-287
Sec. 33 from passage Repealer section
Sec. 34 from passage SA 77-98, Sec. 1
Sec. 35 from passage SA 77-98, Sec. 2
Sec. 36 from passage SA 77-98, Sec. 4
Sec. 37 from passage SA 77-98, Sec. 5
Sec. 38 from passage SA 77-98, Sec. 9
Sec. 39 from passage SA 77-98, Sec. 11
Sec. 40 from passage SA 77-98, Sec. 15(a)
Sec. 41 from passage SA 77-98
Sec. 42 from passage New section
Bill No.
LCO No. 6185 137 of 137
Sec. 43 October 1, 2024 New section