Senate Bill No. 1397 mandates the Connecticut Housing Finance Authority (CHFA) to conduct a study on the status of homeownership loan programs within the state. The bill requires CHFA to submit a report detailing the findings of this study to the joint standing committee of the General Assembly that oversees banking matters by January 15, 2026. This new section is inserted into the law as Section 1, effective from the date of passage.

The bill does not impose any fiscal impact on the state or municipalities, as the CHFA possesses the necessary expertise to carry out the study without additional costs. There are no deletions from current law in this bill, and it has received a favorable report from the Banking Committee with a unanimous vote.