The bill, Substitute Senate Bill No. 1562, proposes to amend the authorized use of a parcel of state land that was previously conveyed to the town of Newtown in 2004. Specifically, it releases the existing restriction that mandated the land be used solely for economic development purposes. Instead, the bill stipulates that the town of Newtown must use the parcel for open space or recreational purposes only. If the land is utilized for any other purpose, it will revert back to the state of Connecticut.

Additionally, the bill includes a provision for the State Treasurer to execute any necessary instruments to implement these changes. The bill does not have any fiscal impact on the state or municipal levels, as indicated in the fiscal note accompanying the legislation. The changes are effective upon passage, and the bill was reported favorably by the Government Oversight Committee with unanimous support.