LCO No. 391 1 of 1
General Assembly Proposed Bill No. 130
January Session, 2025
LCO No. 391
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
SEN. KISSEL, 7th Dist.
(By Request)
AN ACT AUTHORIZING BONDS OF THE STATE TO ESTABLISH A
CAPITAL LOAN PROGRAM FOR MUNICIPALITIES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That the State Bond Commission be empowered to authorize the 1
issuance of bonds of the state in accordance with section 3-20 of the 2
general statutes, in principal amounts not exceeding in the aggregate 3
thirty-five million dollars for the fiscal years ending June 30, 2026, and 4
June 30, 2027, the proceeds of which shall be used by the Office of Policy 5
and Management for the purpose of establishing an interest-free capital 6
loan program, to be known as the "Connecticut Bond Bank" for 7
municipalities to fund infrastructure projects. 8
Statement of Purpose:
To establish an interest-free capital loan program that allows small
municipalities with a high credit rating to access tax-exempt capital
through the state for infrastructure projects.