Governor's Bill No. 1247 authorizes the issuance of state bonds totaling up to $765,405,019 for various capital projects across multiple state departments, effective July 1, 2025. The State Bond Commission is empowered to issue these bonds in one or more series, with proceeds allocated for significant investments in information technology, renovations of state facilities, expansions of veterans' services, and upgrades to educational institutions. Specific allocations include $75 million for an IT capital investment program, $20 million for the Department of Veterans Affairs, and $113.7 million for a new Windham Technical High School. The bill also includes provisions for environmental improvements, energy efficiency projects, and infrastructure upgrades, while adopting existing provisions from section 3-20 of the general statutes to ensure consistency with new bond authorizations.

Additionally, the bill proposes amendments to existing statutes regarding bond issuance, including a repayment clause for grant-in-aid contracts to non-political entities if the funded premises cease to be used for their intended purpose within ten years. It allows for the issuance of special tax obligation bonds totaling up to $1,552,966,214 for transportation-related projects and increases the aggregate amount of bonds authorized by the State Bond Commission from $2,644,487,544 to $2,794,487,544. The bill emphasizes that all bonds will be general obligations of the state, backed by its full faith and credit, ensuring necessary appropriations for principal and interest payments. Key deletions from current law include reductions in previously authorized bond amounts and modifications to grant allocations, aiming to streamline the funding process while enhancing accountability and financial management for state projects.

Statutes affected:
Governor's Bill: 4-66g, 10-265t, 10-287d, 32-4q, 32-285a, 32-763, 32-765