Senate Substitute Bill No. 10, identified as File No. 590, is a comprehensive legislative proposal that authorizes the State Bond Commission to issue bonds for a variety of projects and initiatives across Connecticut. The bill, effective July 1, 2024, allocates funds for environmental remediation, renovations, climate resiliency, educator professional development, and improvements to correctional facilities, among other purposes. It also increases the authorized principal amounts for bond issuance in certain areas, extends the UConn 2000 infrastructure program, and mandates repayment for grants-in-aid if the funded projects cease to be used for their intended purpose within ten years.

The bill further establishes the Legacy Investment Fund Board to oversee the allocation of bond proceeds for economic and community development projects, with a cap of $150 million per year from 2025 to 2029. It also includes provisions for the issuance of bonds for early childhood education and child care initiatives, as well as renovations to the State Capitol and Legislative Office Building. The bill mandates quarterly reporting by the Department of Housing on the use of bond funds and outlines the fiscal impact on the General Fund, Transportation Fund, and municipalities. Additionally, the bill amends existing statutes by inserting new legal language and deleting some provisions, reflecting changes in bond authorizations for various state agencies and projects.