The proposed legislation, General Assembly Raised Bill No. 5298, aims to establish a grant program administered by the Department of Veterans Affairs to support municipalities and nonprofit veterans' organizations in funding capital expenditure projects related to veterans. This includes initiatives such as repairing or replacing mechanical systems in the homes of elderly, disabled, or low-income veterans, as well as the placement or maintenance of war or veterans' memorials. The program is set to begin on October 1, 2026, and will require the Department to develop eligibility criteria, application forms, and deadlines by January 1, 2027.

Additionally, the bill authorizes the State Bond Commission to issue bonds to fund these grants, with the proceeds specifically allocated for the aforementioned projects. The bonds will be general obligations of the state, ensuring that the full faith and credit of Connecticut is pledged for their repayment. The Department of Veterans Affairs is also mandated to submit an annual report detailing grant applications and awards to the relevant legislative committee, starting January 1, 2028. The bill does not propose any deletions from current law but introduces new provisions to facilitate the grant program.