Senate Bill No. 388 establishes the "Mashantucket Pequot and Mohegan Fund" as a separate nonlapsing fund, which will receive all funds from the Mashantucket Pequot Tribe and the Mohegan Tribe of Indians of Connecticut as per their respective memoranda of understanding with the state. The bill repeals the existing Section 3-55i and replaces it with new provisions that maintain current funding levels through fiscal year 2027 while increasing the grant total to approximately $152.4 million starting in fiscal year 2028. The bill also stipulates that the amount transferred from the General Fund to the Mashantucket Pequot and Mohegan Fund cannot be reduced unless the Governor submits an emergency certification to the General Assembly.

The bill outlines the distribution process for the grants, which will be managed by the Office of Policy and Management, and specifies that if the total grants exceed available funds, the grant amounts will be proportionately reduced. The new legal language includes provisions for the fiscal years ending June 30, 2028, and thereafter, ensuring a significant increase in funding for municipalities that receive these grants. The bill is set to take effect on July 1, 2026, and aims to enhance financial support for various municipalities in Connecticut.

Statutes affected:
Raised Bill: 3-55i
APP Joint Favorable Substitute: 3-55i
File No. 647: 3-55i