Connecticut 2026 Session Status: In Committee Bipartisan · 2 R · 1 D cosponsors

SB 216 — AN ACT CONCERNING THE COMMUNITY BANK AND CREDIT UNION INVESTMENT PROGRAM ESTABLISHED BY THE STATE TREASURER.

Last action — FILE NO. 120

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  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 18, 2026. It must pass committee before a floor vote.

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

Prognosis

Advancing 36% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 3 sponsors

    3 primary, 0 co-sponsors signed on.

  • Bipartisan support

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

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

68 added · 10 removed

Plain-language change summary

The updated version of Bill SB 216 includes the addition of a detailed report from the Committee on Banking and clarifies the fiscal impact statement regarding potential effects on state funds. Specifically, it highlights that the financial outcomes are uncertain and could vary across different agencies. This change is important because it provides clearer guidance for lawmakers on the financial implications of the bill, helping them make more informed decisions.

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Previous
Latest
General Assembly Raised Bill No.
Senate General Assembly File No.
216 February Session, 2026 LCO No.
120 February Session, 2026 Senate Bill No.
1065 Referred to Committee on BANKING Introduced by:
216 Senate, March 23, 2026 The Committee on Banking reported through SEN.
(BA) AN ACT CONCERNING THE COMMUNITY BANK AND CREDIT UNION INVESTMENT PROGRAM ESTABLISHED BY THE STATE TREASURER.
MILLER of the 27th Dist., Chairperson of the Committee on the part of the Senate, that the bill ought to pass.
AN ACT CONCERNING THE COMMUNITY BANK AND CREDIT UNION INVESTMENT PROGRAM ESTABLISHED BY THE STATE TREASURER.
Such asset limit shall provide that:
Such asset SB216 / File No.
(A) During the period beginning July 1, 2023, and ending September 29, 2024, no community bank or community LCO 1065 1 of 3 Raised Bill No.
120 1 SB216 File No.
216 credit union with assets exceeding two billion dollars may participate in such program;
120 limit shall provide that:
(A) During the period beginning July 1, 2023, and ending September 29, 2024, no community bank or community credit union with assets exceeding two billion dollars may participate in such program;
(e)The State Treasurermay establishcapital standardsfor suchbanks LCO 1065 2 of 3 Raised Bill No.
SB216 / File No.
216 and credit unions wishing to participate in said program.
120 2 SB216 File No.
120 (e)The State Treasurermay establishcapital standardsfor suchbanks and credit unions wishing to participate in said program.
Section 1 October 1, 2026 3-24k BA Joint Favorable LCO 1065 3 of 3
Section 1 October 1, 2026 3-24k BA Joint Favorable SB216 / File No.
120 3 SB216 File No.
120 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.
In general, fiscal impacts are based upon a variety of informational sources, including the analyst’s professional knowledge.
Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.
OFA Fiscal Note State Impact:
Agency Affected Fund-Effect FY 27 $ FY 28 $ Various Various - See Below See Below Uncertain Note:
Various=Various Municipal Impact:
None Explanation The bill allows the Treasurer to accept lower investment return rates as part of the Community Bank and Community Credit Union programs, instead of using the competitive bid process under current law.
The impact of this change is uncertain, as it will depend on the amount and timing of investment received from offerings under the new system versus the current, as well as any difference between investment returns generated by these programs compared to other short term cash flow investments.
Any impacts would be to various funds that are invested within the short-term investment markets.
The Out Years The annualized ongoing fiscal impact identified above would continue into the future subject to the terms and results of short term investment.
SB216 / File No.
120 4 SB216 File No.
120 OLR Bill Analysis SB 216 AN ACT CONCERNING THE COMMUNITY BANK AND CREDIT UNION INVESTMENT PROGRAM ESTABLISHED BY THE STATE TREASURER.
SUMMARY This bill sets the minimum interest rate that the state treasurer may accept for investment-related services under the Community Bank and CreditUnionInitiative.Specifically,itsetstheminimumrateat 100basis points (one percentage point) below the previous day’s yield for a comparable U.S.
Treasury security with the same maturity date as the one applicable to the investment-related services, as determined by the treasurer.
The bill also requires that the treasurer select banks and credit unions to participate in the program through an application process, rather than a competitive bidding process as current law requires.
Under this initiative, the treasurer may invest up to $300 million in Connecticut-based banks and credit unions that meet the applicable asset limits and capital standards’.
The financial institutions participating in the initiative make loans to people and small-to- medium sized companies and provide banking services in underserved markets.
EFFECTIVE DATE:
October 1, 2026 COMMITTEE ACTION Banking Committee Joint Favorable Yea 13 Nay 0 (03/10/2026) SB216 / File No.
120 5
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How this bill changes current law

6 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill repeals and substitutes Section 3-24k, establishing a community bank and credit union investment program with specific eligibility criteria and investment procedures.

  • Section 3-24k

    Section 3-24k of the general statutes is repealed and the following is substituted in lieu thereof → The State Treasurer may establish a program under which the State Treasurer may, based on cash availability, make available a pool of funds not exceeding three hundred million dollars for investment with eligible community banks and community credit unions.

    This change creates a new program allowing investment with community banks and credit unions.

  • Section 3-24k

    competitive bidding → application

    This change modifies the procedure terminology for how banks and credit unions can seek investment-related services.

  • Section 3-24k

    compete → apply

    This change clarifies the process for banks and credit unions to request investment-related services.

  • Section 3-24k

    investment-related services under said program. → investment-related services under said program.

    This maintains the context while emphasizing the application process for obtaining investment-related services.

  • Section 3-24k

    thatarenotgreaterthanonehundredbasispointsbelow → that are not greater than one hundred basis points below

    This change corrects the formatting of the text for clarity.

  • Section 3-24k

    capital standardsfor suchbanks → capital standards for such banks

    This change corrects spacing for readability.

Action History

  1. FILE NO. 120

  2. SENATE CALENDAR NUMBER 93

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

  4. RPTD. OUT OF LCO

  5. REFERRED TO Office of Legislative Research AND Office of Fiscal Analysis 03/23/26

  6. FILED WITH LCO

  7. Joint Favorable

  8. PUBLIC HEARING 0224

  9. REF. TO JOINT COMM. ON Banking

Sponsors

Sponsorship breakdown

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3 sponsors · 0 co-sponsors · 184 not signed on

Sponsors (3)

Co-sponsors (0)

None.

Not signed on (184)

184 members have not signed on to this bill.

Show all 184 →

"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 216?
SB 216 is sponsored by Eric C. Berthel (Republican), Tom Delnicki (Republican), and Antonio Felipe (Democratic).
What is the current status of SB 216?
This bill is in committee in the Senate. Introduced February 18, 2026. It must pass committee before a floor vote.
Where can I track SB 216?
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