Substitute Senate Bill No. 1242 seeks to enhance small harbor infrastructure in Connecticut by authorizing the State Bond Commission to issue bonds totaling up to twenty million dollars. The bill introduces new legal language that establishes a "small harbor improvement projects account" where the proceeds from these bonds will be deposited. This account will fund various initiatives, including federal and nonfederal dredging projects, support local and state matching requirements, cover costs related to environmental regulations, and reimburse expenses for projects that began prior to funding disbursement. The bill also repeals Section 13b-55d and replaces it with a framework that defines "small harbor" and creates 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 allowable uses of a separate $6.75 million bond authorization for port, harbor, and marina improvements to include dredging projects at small harbors. The Connecticut Port Authority is tasked with developing eligibility criteria and matching fund requirements for grant applicants. The legislation is set to take effect on July 1, 2025, and aims to bolster the state's maritime economy by improving small harbor infrastructure, thereby supporting local economies and commerce.

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