The General Assembly Raised Bill No. 1397 mandates the Connecticut Housing Finance Authority to conduct a study on the status of homeownership loan programs within the state. The bill requires the authority to submit a report detailing the findings of this study to the relevant joint standing committee of the General Assembly by January 15, 2026. This initiative aims to assess and potentially improve homeownership loan programs available to residents.

The bill introduces new legal language, specifically stating that the study and report are to be conducted and submitted as outlined in Section 1, which is effective upon passage. There are no deletions from current law in this bill, as it primarily establishes new requirements for the Connecticut Housing Finance Authority. The overall purpose of the bill is to enhance understanding and oversight of homeownership loan programs in Connecticut.