This bill, Senate Bill No. 1031, requires the Department of Banking to conduct a study on banking issues in the state of Connecticut. The department must submit a report on the results of the study to the joint standing committee of the General Assembly by January 15, 2024. The bill does not have any fiscal impact as the department has the expertise to complete the study.
The bill does not make any amendments to existing law, but it does insert a new section into the law that requires the Department of Banking to conduct the study. The bill also includes a fiscal impact statement and bill analysis, which state that the bill does not have any fiscal impact on the state or municipalities. The bill was reported favorably by the Banking Committee.