Senate Bill No. 375 focuses on the establishment and funding of the "Mashantucket Pequot and Mohegan Fund," which is a separate nonlapsing fund created to manage the distribution of funds received from the Mashantucket Pequot Tribe and the Mohegan Tribe of Indians of Connecticut. The bill specifies the amounts to be transferred to this fund from the General Fund for fiscal years 2015 to 2025 and sets a fixed transfer amount of $139.38 million for fiscal year 2026 and each year thereafter. It also revises the grant payment process to municipalities and includes a mechanism for proportional reduction if the total grants exceed the available funds in the Mashantucket Pequot and Mohegan Fund.

The bill further outlines that transfers to the fund cannot be reduced unless the Governor certifies an emergency and a two-thirds majority of each house of the General Assembly approves the reduction. It adjusts the grants to certain municipalities, with Ledyard and Montville potentially receiving up to $600,000 each under specific conditions. The fiscal impact statement indicates that the bill will result in an annual revenue gain for various municipalities starting in fiscal year 2026, with a corresponding cost to the General Fund. The bill, identified as SB375 File No. 574, also notes that the appropriation for the Pequot grant in Fiscal Year 24 is approximately $52.5 million, maintaining the same level of funding as in Fiscal Year 20. The bill has passed the Appropriations Committee with a Joint Favorable vote. The summary does not mention specific insertions or deletions to the current law, suggesting that the bill's focus may be on appropriations for the specified fiscal year.

Statutes affected:
Raised Bill: 3-55i, 3-55j
APP Joint Favorable: 3-55i, 3-55j
File No. 574: 3-55i, 3-55j