The House Joint Resolution No. 31 seeks to reauthorize the Community Investment Fund 2030 Board and its associated program, which is responsible for reviewing applications for state bond funding for eligible economic and community development projects. Established under section 32-285a of the general statutes, the board plays a crucial role in recommending projects for funding to the Governor. The resolution is necessary for the State Bond Commission to authorize the issuance of bonds for the fiscal years ending June 30, 2028, to June 30, 2032, as mandated by subsection (e) of the same statute.

The resolution emphasizes the importance of reauthorizing the Community Investment Fund 2030 Board and program for the benefit of the state. If reauthorized, the program could lead to approximately $1.9 billion in costs to the General Fund over 20 years, with potential municipal revenue gains of up to $1.25 billion, depending on the distribution of funds to eligible projects. The resolution is one of two steps required for the reauthorization of $1.25 billion in General Obligation bonds, which will be available for use by the State Bond Commission only if both the Governor and the Community Investment Fund 2030 Board agree to the reauthorization.