Senate Bill 456 (sSB456 File No. 587) is a legislative proposal designed to combat concentrated poverty in Connecticut by initiating a pilot program that develops and implements 10-year plans in designated "concentrated poverty census tracts." These tracts are defined by a high percentage of households living below the federal poverty level. The bill establishes the Office of Neighborhood Investment and Community Engagement (ONICE) within the Department of Economic and Community Development (DECD) to oversee the program. It requires the creation of comprehensive plans that include measurable steps, target dates, and educational benchmarks, with the goal of reducing household poverty rates. The bill also mandates annual progress reports starting in 2027 and requires the Commissioner of Economic and Community Development to submit the plans to the General Assembly by January 1, 2026. It allows community development corporations (CDCs) to take legal action against state or municipal officials who fail to meet their responsibilities under the program.

The bill further establishes the Office of Community Economic Development Assistance (OCEDA) to assist organizations in becoming certified CDCs and to provide grants for projects in target areas. It authorizes the State Bond Commission to issue bonds up to fifty million dollars for the purposes of OCEDA and the associated grant program. The bill amends the definition of "high poverty-low opportunity census tract" to "concentrated poverty census tract," changing the focus from residents to households. It also outlines the application and review process for funding eligible projects, with a minimum grant amount of five hundred thousand dollars for a three-year period. The bill establishes the Community Investment Fund 2030 Board within DECD to review eligible projects for funding and sets a cap on bond issuance at $875 million over five fiscal years, with provisions for additional bonds subject to legislative resolution. The bill includes insertions regarding the file number and sections affected, and it provides a fiscal impact statement indicating an annualized cost of $1.8 million to the state for establishing the pilot program. The effective date of the bill is upon passage.

Statutes affected:
Raised Bill: 32-7s
FIN Joint Favorable Substitute: 32-7s