The General Assembly Raised Bill No. 5243 aims to promote economic development in the greater Mystic area, specifically in the towns of Groton and Stonington. The bill authorizes the State Bond Commission to issue bonds totaling up to eight million dollars, which will be utilized by the Department of Economic and Community Development for various projects. These projects include the development and improvement of docks, piers, and breakwaters, the construction and renovation of parking garages, the establishment of a shuttle boat service, and enhancements to existing riverwalks.

The bill stipulates that all provisions of section 3-20 of the general statutes that are not inconsistent with this new section will apply to the bonds authorized. It also outlines that the bonds will be general obligations of the state, with the full faith and credit of Connecticut pledged for their repayment. The act is set to take effect on July 1, 2026, and introduces new legal language to facilitate these economic initiatives while deleting any conflicting provisions from current law.