Substitute Senate Bill No. 1242 aims to enhance small harbor improvement projects in Connecticut by authorizing the issuance of state bonds totaling up to twenty million dollars. The State Bond Commission is empowered to issue these bonds, with proceeds allocated to a newly created "small harbor improvement projects account." This account will fund various initiatives, including dredging and private maritime infrastructure improvements, contingent upon obtaining necessary permits. The bill establishes a competitive grant program managed by the Connecticut Port Authority, allowing municipalities and private entities to apply for funding.

Key changes in the bill include the deletion of prior requirements for a memorandum of understanding between the Connecticut Port Authority and the state, replaced by direct deposit provisions for bond proceeds. The definition of "small harbor" has been clarified, and the Connecticut Port Authority is tasked with developing eligibility criteria for grant applications, prioritizing municipalities. The bill also expands the scope of an existing $6.75 million general obligation bond authorization to include reimbursement for dredging projects at small harbors and modifies the bond authorization process to require approval from the State Bond Commission. These provisions are set to take effect on July 1, 2025.

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