Substitute Senate Bill No. 1242 seeks to enhance small harbor infrastructure in Connecticut by authorizing the State Bond Commission to issue up to twenty million dollars in bonds. The bill introduces a new "small harbor improvement projects account" where the proceeds from these bonds will be deposited. This account will fund various initiatives, including dredging projects, and will support local and state matching requirements, cover environmental costs, and reimburse projects that began before funding was available. The bill also repeals Section 13b-55d and replaces it with a new framework that defines "small harbor" and establishes a competitive grant program managed by the Connecticut Port Authority, prioritizing municipal applications.

Furthermore, the bill expands the eligibility for grants to include private entities and allows for reimbursement of certain projects, which was not previously allowed. It reallocates an existing $20 million general obligation bond authorization to the small harbor improvement projects account, broadening the use of a separate $6.75 million bond authorization to include dredging reimbursements. The allocation process for these funds will now require approval from the State Bond Commission, and the Connecticut Port Authority is tasked with developing eligibility criteria for annual grant applications. The legislation aims to bolster the state's economy and infrastructure by ensuring that at least $5 million is dedicated to ports, harbors, and marinas outside of the major deep-water ports, with an effective date of July 1, 2025.

Statutes affected:
Raised Bill:
TRA Joint Favorable Substitute:
File No. 375: