Connecticut 2026 Session Status: In Committee Bipartisan · 45 D · 1 R cosponsors

SB 8 — AN ACT SUPPORTING GRADUATE STUDENTS IN THE STATE.

Last action — FILE NO. 3

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 04, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 42% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 49 sponsors

    49 primary, 0 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (45 D · 1 R) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

332 added · 30 removed

Plain-language change summary

The updated version of Bill SB 8 has clarified the title to ensure that it is clearly labeled as a substitute bill and includes the proper identification, making it easier for lawmakers and the public to reference. This change is important as it adds transparency and organization to the legislative process, helping everyone involved to follow the bill's progress more effectively.

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Previous
Latest
General Assembly Committee Bill No.
Senate General Assembly File No.
8 February Session, 2026 LCO No.
3 February Session, 2026 Substitute Senate Bill No.
1192 Referred to Committee on HIGHER EDUCATION AND EMPLOYMENT ADVANCEMENT Introduced by:
8 Senate, March 9, 2026 The Committee on Higher Education and Employment Advancement reported through SEN.
(HED) AN ACT SUPPORTING GRADUATE STUDENTS IN THE STATE.
SLAP of the 5th Dist., Chairperson of the Committee on the part of the Senate, that the substitute bill ought to pass.
AN ACT SUPPORTING GRADUATE STUDENTS IN THE STATE.
(b) On and after July 1, 2026, the Connecticut Higher Education Supplemental Loan Authority shall establish, subject to available funding pursuant to subsection (d) of this section, a Supplemental Graduate Student Loan Program for the purpose of providing authority loans to any student enrolled in an eligible graduate program who meets the eligibility criteria established by the authority.
(b) On and after July 1, 2026, the Connecticut Higher Education Supplemental Loan Authority shall establish, subject to available funding pursuant to subsection (d) of this section, a Supplemental Graduate Student Loan Program for the purpose of providing authority loans to any student enrolled in an eligible graduate program who sSB8 / File No.
(c) The Connecticut Higher Education Supplemental Loan Authority LCO No.
3 1 sSB8 File No.
1192 1 of 8 Committee Bill No.8 shall establish the eligibility criteria and administrative guidelines for the Supplemental Graduate Student Loan Program in accordance with the written procedures adopted pursuant to subdivision (6) of subsection (f) of section 10a-224 of the general statutes.
3 meets the eligibility criteria established by the authority.
(c) The Connecticut Higher Education Supplemental Loan Authority shall establish the eligibility criteria and administrative guidelines for the Supplemental Graduate Student Loan Program in accordance with the written procedures adopted pursuant to subdivision (6) of subsection (f) of section 10a-224 of the general statutes.
Moneys in the account shall be used (1) for reasonable and necessary expenses for the administration of the Supplemental Graduate Student Loan Program, and (2) for the issuance of authority loans for said program.
Moneys in the account shall be used for (1) reasonable and necessary expenses for the administration of the Supplemental Graduate Student Loan Program, and (2) the issuance of authority loans for said program.
(Effective July 1, 2026) (a) For the purposes described in subsection (b) of this section, the State Bond Commission shall have the power from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate ten million dollars.
(Effective July 1, 2026) (a) For the purposes described in subsection (b) of this section, the State Bond Commission shall have the power from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate thirty million dollars, provided twenty million dollars of said authorization shall be effective July 1, 2027.
Temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with section 3-20 of the general statutes and from time to time renewed.
Temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in sSB8 / File No.
Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided LCO No.
3 2 sSB8 File No.
1192 2 of 8 Committee Bill No.8 in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds.
3 accordance with section 3-20 of the general statutes and from time to time renewed.
Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds.
At least ten per cent of bonds allocated under subparagraph (A) of this subdivision shall be used for multifamily residential housing in the calendar year commencing January 1, 2008.
At least ten per cent of bonds allocated under subparagraph (A) of this subdivision shall be sSB8 / File No.
In each calendar year commencing LCO No.
3 3 sSB8 File No.
1192 3 of 8 Committee Bill No.8 January 1, 2009, fifteen per cent of such bonds shall be used for multifamily residential housing.
3 used for multifamily residential housing in the calendar year commencing January 1, 2008.
In each calendar year commencing January 1, 2009, fifteen per cent of such bonds shall be used for multifamily residential housing.
(b) Notwithstanding the foregoing, (1) the constituent units of the state system of higher education may participate in one or more education loan programs with the authority and may incur indebtedness pursuant to authority loans, and (2) the authority may create and establish one or more reserve funds to be known as special capital reserve funds and may fund such special capital reserve funds with (A) any moneys appropriated and made available by the state for the purposes of such funds, (B) any proceeds of the sale of notes or bonds, to the extent provided in the resolution of the authority authorizing the issuance thereof, (C) any other moneys that may be made available to the authority for the purpose of such funds from any other source or sources, and (D) any surety policy or other similar instrument valued at par and payable or available to be drawn upon on LCO No.
(b) Notwithstanding the foregoing, (1) the constituent units of the state system of higher education may participate in one or more education loan programs with the authority and may incur indebtedness pursuant to authority loans, and (2) the authority may create and establish one or more reserve funds to be known as special capital reserve funds and may fund such special capital reserve funds with (A) any moneys appropriated and made available by the state for the purposes of such funds, (B) any proceeds of the sale of notes or bonds, to the extent provided in the resolution of the authority authorizing the issuance thereof, (C) any other moneys that may be made available to the authority for the purpose of such funds from any other source or sources, and (D) any surety policy or other similar sSB8 / File No.
1192 4 of 8 Committee Bill No.8 or before any date by which debt service on the bonds secured thereby is required to be paid and issued by a financial institution that, at the time of issuance of such surety policy or similar instrument, is rated "AA" or better by any nationally recognized statistical rating organization and approved by the State Treasurer.
3 4 sSB8 File No.
3 instrument valued at par and payable or available to be drawn upon on or before any date by which debt service on the bonds secured thereby is required to be paid and issued by a financial institution that, at the time of issuance of such surety policy or similar instrument, is rated "AA" or better by any nationally recognized statistical rating organization and approved by the State Treasurer.
The authority may provide that it shall not issue bonds at any time if the required minimum capital reserve on outstanding bonds secured by a special capital reserve fund and the bonds then to be issued and secured by a special capital reserve fund will exceed the amount of such special capital reserve fund at the time of issuance, unless the authority, at the time of the issuance of such bonds, shall deposit in such special capital reserve fund from the proceeds of the bonds so to be issued, or otherwise, an amount which, together with the amount then in such special capital reserve fund, will be not less than the required minimum LCO No.
The authority may provide that it shall not issue bonds at any time if the required minimum capital reserve on outstanding bonds secured by a special capital reserve fund and the bonds then to be issued and secured by a special capital reserve fund will exceed the amount of such special capital reserve fund at the time of issuance, unless the authority, at the time of the issuance of such bonds, shall deposit in such special capital reserve fund from the proceeds of the bonds so to be issued, or otherwise, an amount which, together with the amount then in such special capital reserve fund, will be not less than the required minimum sSB8 / File No.
1192 5 of 8 Committee Bill No.8 capital reserve.
3 5 sSB8 File No.
3 capital reserve.
Notwithstanding any other provisions contained in this chapter, the aggregate amount of bonds outstanding at any time secured by such special capital reserve fundsauthorizedto becreatedandestablished by this section shall not exceed [three] seven hundred fifty million dollars and no such bonds shall be issued to pay program costs unless the authority is of the opinion and determines that the revenues to be derived from the program shall be sufficient (i) to pay the principal of and interest on the bonds issued to finance the program, (ii) to establish, increase and maintain any reserves deemed by the authority to be LCO No.
Notwithstanding any other provisions contained in this chapter, the aggregate amount of bonds outstanding at any time secured by such special capital reserve fundsauthorizedto becreatedandestablished by this section shall not exceed [three] seven hundred fifty million dollars and no such bonds shall be issued to pay program costs unless the authority is of the opinion and determines that the revenues to be derived from the program shall be sufficient (i) to pay the principal of and interest on the bonds issued to finance the program, (ii) to establish, increase and maintain any reserves deemed by the authority to be advisable to secure the payment of the principal of and interest on such sSB8 / File No.
1192 6 of 8 Committee Bill No.
3 6 sSB8 File No.
8 advisable to secure the payment of the principal of and interest on such bonds, (iii)to pay thecost ofmaintaining andservicing theprogramand keeping it properly insured, and (iv) to pay such other costs of the program as may be required.
3 bonds, (iii)to pay thecost ofmaintaining andservicing theprogramand keeping it properly insured, and (iv) to pay such other costs of the program as may be required.
4 July 1, 2026 10a-232 Statement of Purpose:
4 July 1, 2026 10a-232 HED Joint Favorable Subst.
To establish the Supplemental Graduate Student Loan Program, allow up to ten million dollars in state bonds for said program, allocate not less than sixty million dollars in annual private activity bonds for the Connecticut Higher Education Supplemental Loan Authority and increase the authority's bonding authorization cap.
sSB8 / File No.
[Proposed deletions are enclosed in brackets.
3 7 sSB8 File No.
Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.] Co-Sponsors:
3 The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose.
SEN.
In general, fiscal impacts are based upon a variety of informational sources, including the analyst’s professional knowledge.
LOONEY, 11th Dist.;
Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.
SEN.
OFA Fiscal Note State Impact:
DUFF, 25th Dist.
Agency Affected Fund-Effect FY 27 $ Out Years $ Treasurer, Debt Serv.
SEN.
GF - Cost None See Below Note:
ANWAR, 3rd Dist.;
GF=General Fund Municipal Impact:
SEN.
None Explanation The bill authorizes $30 million in General Obligation bonds ($10 million in FY 27, $20 million in FY 28) for the Supplemental Graduate Student Loan Program, to be administered by the Connecticut Higher Education Supplemental Loan Authority (CHESLA).
CABRERA, 17th Dist.
To the extent bonds are fully allocated and expended, total debt service is expected to be approximately $45.8 million over the 20-year duration of the bonds.
Show all 92 changed rows (52 more)
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SEN.
Additionally,thebillincreasesCHESLA'sspecialcapitalreservefund (SCRF) bond authorization from $300 million to $750 million.
COHEN, 12th Dist.;
To the extent that additional bonds are issued, there is a potential minimal impact to the state’s debt service going forward through the life of any bonds issued.
SEN.
As of February 2025, CHESLA had outstanding SCRF- backed debt of $145.4 million.
FLEXER, 29th Dist.
1 In order to issue SCRF-backed bonds, CHESLA must get approval from the State Treasurer.
SEN.
The State Treasurer is not expected to approve the issuance of SCRF-backed bonds unless CHESLA can show that it will be able to generate sufficient revenue from its activities to pay the 1Source:
GADKAR-WILCOX, 22nd Dist.;
September 2025 General Obligation Bonds Official Statement sSB8 / File No.
SEN.
3 8 sSB8 File No.
GASTON, 23rd Dist.
3 debt service on the bonds.
SEN.
Background SCRF-backed bonds are a contingent liability of the state.
HARTLEY, 15th Dist.;
The SCRF provides a higher level of repayment security, which results in a lower rate of interest onthe bond issuance than the relevant market rate.
SEN.
Inthe event that the SCRF is drawn down in part or completely, a draw on the General Fund is authorized and the SCRF is fully restored.
HOCHADEL, 13th Dist.
The draw on the General Fund is deemed to be appropriated and is not subject to the constitutional or statutory appropriations cap.
SEN.
If draws on a SCRF continue, the annual draws on the General Fund required to refill it also continue until the fund is replenished by the bond issuer or the underlying debt is repaid.
HONIG, 8th Dist.;
The Out Years The annualized ongoing fiscal impact identified above would continue into the future subject to the terms of any bonds issued.
SEN.
Contingent liabilities do not count against the state’s statutory limits on General Obligation bonds.
KUSHNER, 24th Dist.
sSB8 / File No.
SEN.
3 9 sSB8 File No.
LESSER, 9th Dist.;
3 OLR Bill Analysis sSB 8 AN ACT SUPPORTING GRADUATE STUDENTS IN THE STATE.
SEN.
SUMMARY Starting July 1, 2026, this bill requires the Connecticut Higher Education Supplemental Loan Authority (CHESLA) to create, subject to available funding, a Supplemental Graduate Student Loan Program to provide loans to graduate students.
LOPES, 6th Dist.
It also:
SEN.
1.
MAHER, 26th Dist.;
authorizes $30 million in state general obligation bonds for the program ($10 million in FY 27 and $20 million in FY 28);
SEN.
2.
MARONEY, 14th Dist.
carves out at least $60 million from the state’s private activity bond cap for CHESLA;
SEN.
and 3.
MARX, 20th Dist.;
increases, from $300 million to $750 million, the maximum amount of CHESLA’s bonds backed by a special capital reserve fund (SCRF) that can be outstanding at any time.
SEN.
EFFECTIVE DATE:
MCCRORY, 2nd Dist.
July 1, 2026 SUPPLEMENTAL GRADUATE STUDENT LOAN PROGRAM The bill makes Supplemental Graduate Student Loan Program loans available to students in or from the state who are in CHESLA- designated advanced academic or professional degree programs that require a bachelor’s degree prior to enrollment.
SEN.
The bill requires CHESLA to adopt eligibility criteria and administrative guidelines for the new loan program under its board of directors’ existing authority to adopt written procedures for CHESLA’s loans.
MILLER P., 27th Dist.;
The bill requires CHESLA to have a separate, nonlapsing program account to contain program funds, including appropriations and bond proceeds.
SEN.
The account must beusedto issueloansandfor theprogram’s sSB8 / File No.
NEEDLEMAN, 33rd Dist.
3 10 sSB8 File No.
SEN.
3 reasonable and necessary administrative expenses.
OSTEN, 19th Dist.;
PRIVATE ACTIVITY BOND CAP Generally, private activity bonds are bonds issued by quasi-public authorities (such as CHESLA) or municipalities that are not a state obligation because the quasi-public authority or municipality pays the bond’s debt service out of a dedicated revenue stream.
SEN.
These bonds wouldnormallybetaxableexceptwhentheyareusedtofinanceprojects that serve a significant public benefit, such as housing, economic development, student loans, and energy conservation.
RAHMAN, 4th Dist.
The federal government classifies a bond as private activity if more than 10% of its proceeds are used by a private party (such as a quasi-public authority) and more than 10% of the debt service is backed by private resources.
SEN.
A federal formula caps each state’s annual private activity bonding capacity and for 2026 Connecticut’s cap is about $498 million.
SLAP, 5th Dist.
Current law allocates the state’s cap as follows:
S.B.
1.
8 LCO No.
60% for the Connecticut Housing Finance Authority;
1192 7 of 8 Committee Bill No.
2.
8 LCO No.
12.5% for Connecticut Innovations, Incorporated;
1192 8 of 8
and 3.
27.5% for CHESLA, municipalities, and the Connecticut Green Bank, and thenfor theConnecticut Student LoanFoundationand then for contingencies.
The bill requires allocating to CHESLA at least $60 million out of the 27.5% portion of the cap that it shares with others.
By law, the State Bond Commission can change an allocation described above during a calendar year when it is in the state’s best interest and the General Assembly is not in session (CGS § 32-142).
MAXIMUM AMOUNT OF CHESLA’S OUTSTANDING SCRF-BACKED BONDS ThelawauthorizesCHESLAtocreateSCRFsthatcontainassets(such as state appropriations, bond proceeds, and surety policies) that can be sSB8 / File No.
3 11 sSB8 File No.
3 used to pay bondholders.
The bill increases, from $300 million to $750 million, the maximum amount of CHESLA’s bonds that are backed by a SCRF that may be outstanding at any time.
COMMITTEE ACTION Higher Education and Employment Advancement Committee Joint Favorable Substitute Yea 18 Nay 0 (02/24/2026) sSB8 / File No.
3 12
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Action History

  1. FILE NO. 3

  2. SENATE CALENDAR NUMBER 37

  3. FAV. RPT., TAB. FOR CAL., SEN.

  4. RPTD. OUT OF LCO

  5. REFERRED TO Office of Legislative Research AND Office of Fiscal Analysis 03/09/26

  6. FILED WITH LCO

  7. Joint Favorable Substitute

  8. PUBLIC HEARING 0217

  9. REF. TO JOINT COMM. ON Higher Education and Employment Advancement

  10. DRAFTED BY COMMITTEE

  11. Vote to Draft

  12. REF. TO JOINT COMM. ON Higher Education and Employment Advancement

Sponsors

Sponsorship breakdown

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49 sponsors · 0 co-sponsors · 138 not signed on

Sponsors (49)

Co-sponsors (0)

None.

Not signed on (138)

138 members have not signed on to this bill.

Show all 138 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Frequently asked questions

Who sponsors SB 8?
SB 8 is sponsored by Collins Main, Mccarthy Vahey, Sanchez, J., Daniel Gaiewski (Democratic), Hubert D. Delany (Democratic), Tom Delnicki (Republican), John-Michael Parker (Democratic), Aimee Berger-Girvalo (Democratic), Michael "MJ" Shannon (Democratic), Kara Rochelle (Democratic), Jane M. Garibay (Democratic), Frank Smith (Democratic), Mary Fortier (Democratic), Geraldo C. Reyes (Democratic), Laurie Sweet (Democratic), Michael D. Quinn (Democratic), Sarah Keitt (Democratic), Josh Elliott (Democratic), Nicholas Menapace (Democratic), Rebecca Martinez (Democratic), Travis Simms (Democratic), Corey P. Paris (Democratic), Anne M. Hughes (Democratic), Gary A. Turco (Democratic), Nick Gauthier (Democratic), Kaitlyn Shake (Democratic), Derek Slap (Democratic), MD Rahman (Democratic), Catherine A. Osten (Democratic), Norman Needleman (Democratic), Patricia Billie Miller (Democratic), Douglas McCrory (Democratic), Martha Marx (Democratic), James J. Maroney (Democratic), Ceci Maher (Democratic), Rick Lopes (Democratic), Matthew L. Lesser (Democratic), Julie Kushner (Democratic), Paul Honig (Democratic), Jan Hochadel (Democratic), Joan V. Hartley (Democratic), Herron Gaston (Democratic), Sujata Gadkar-Wilcox (Democratic), Mae Flexer (Democratic), Christine Cohen (Democratic), Jorge Cabrera (Democratic), Saud Anwar (Democratic), Bob Duff (Democratic), and Martin M. Looney (Democratic).
What is the current status of SB 8?
This bill is in committee in the Senate. Introduced February 04, 2026. It must pass committee before a floor vote.
Where can I track SB 8?
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