The bill sSB1247 authorizes the State Bond Commission to issue bonds totaling up to $2.4 billion for various state projects, with specific allocations for fiscal years 2026, 2027, and 2028. The proceeds will primarily fund the Green Bond Fund, managed by the Public Utilities Regulatory Authority, and a public school district repair and improvement program. The bill includes provisions for the issuance of temporary notes and emphasizes that all bonds will be general obligations of the state, ensuring timely payment of principal and interest. Additionally, it mandates regular reporting from the Department of Administrative Services regarding the construction of facilities for the Office of the Chief Medical Examiner and requires the chancellor of the Connecticut State Colleges and Universities to submit a five-year capital plan.

The bill also introduces several new initiatives aimed at enhancing housing and economic development, including a greyfield revitalization program to repurpose economically nonviable commercial properties into multi-family housing, backed by $50 million in bond funds. It establishes a strategic supply chain program to support major industries, with similar funding structures, and authorizes $80 million in General Obligation bonds for the Office of Early Childhood to construct and renovate early childhood education facilities. The bill emphasizes the importance of detailed reporting on the use of funds for housing programs and modifies existing provisions to streamline funding processes while enhancing educational and economic opportunities in the state. Overall, the bill reflects a comprehensive approach to addressing infrastructure needs, environmental sustainability, and public health across Connecticut.

Statutes affected:
Governor's Bill: 4-66g, 10-265t, 10-287d, 32-4q, 32-285a, 32-763, 32-765
FIN Joint Favorable Substitute: 10-265t, 10-287d, 32-4q, 32-285a, 32-763, 32-765, 8-445
File No. 901: 10-265t, 10-287d, 32-4q, 32-285a, 32-763, 32-765, 8-445