House Bill No. 7144 seeks to amend the distribution of funds from the Regional Planning Incentive Account to regional councils of governments (COGs) in Connecticut by repealing the existing Section 4-66k and introducing new provisions. The bill establishes a structured funding mechanism that guarantees each regional council a base payment of $400,000 starting from the fiscal year ending June 30, 2026. This funding is intended to support the hiring of three positions, including a regional building inspector, to bolster housing development efforts. Additionally, the bill allocates a total of $7 million annually, which will be distributed based on a formula that combines both a base payment and a per capita payment determined by the latest federal census data.

Furthermore, the bill mandates a review and update of the funding formula every five years to ensure its continued relevance and effectiveness. The fiscal impact is projected to cost the Office of Policy and Management approximately $3.6 million beginning in FY 2026, with ongoing costs anticipated in subsequent years. The effective date for the bill is set for July 1, 2025, and it is funded through a portion of the revenue from the room occupancy tax and the rental car tax. This legislation is also related to SB 1186, which aims to adjust the per-capita portion of the regional services grant based on changes in the consumer price index.

Statutes affected:
Raised Bill: 4-66k
PD Joint Favorable: 4-66k
File No. 623: 4-66k