House Bill No. 7288, also known as Public Act No. 25-174, authorizes the issuance of state bonds totaling up to $787,405,019 for various infrastructure and service improvement projects across multiple state departments. The bill specifies allocations for projects such as the construction of a new Windham Technical High School, renovations of state facilities, and environmental initiatives aimed at reducing greenhouse gas emissions. It mandates that all bond requests must be signed by the Secretary of the Office of Policy and Management, ensuring oversight by the State Bond Commission. The effective date for these bond issuances is set for July 1, 2025, with provisions allowing for the redirection of any excess bond proceeds to complete other projects or deposit into the General Fund.

Additionally, the bill introduces several amendments to existing laws regarding bond issuance and management, including the definition of "state moneys" and the requirement for bond requests to specify project details and potential external funding sources. It increases the maximum bond authorization limits for various programs and establishes new funding mechanisms for housing initiatives, educational infrastructure, and community development projects. The bill also emphasizes accountability by requiring municipalities to report on expenditures related to state grants and includes provisions for the establishment of a Community Investment Fund 2030 Board to oversee project funding. Overall, House Bill No. 7288 aims to enhance state infrastructure, support economic development, and ensure responsible financial management.

Statutes affected:
New Bill: 10-265t, 10-287d, 32-4q, 32-285a, 32-763, 32-765, 8-445, 10-285a, 10-66hh, 4-66p, 31-57e, 10-262h, 31-57s, 31-49e, 31-49h, 31-51kk, 31-51rr
Public Act No. 25-174: 10-265t, 10-287d, 32-4q, 32-285a, 32-763, 32-765, 8-445, 10-285a, 10-66hh, 4-66p, 31-57e, 10-262h, 31-57s, 31-49e, 31-49h, 31-51kk, 31-51rr