SB 959 — AN ACT CONCERNING THE CONNECTICUT GREEN BANK'S ELIGIBILITY AS A BORROWER FOR FEDERAL PROGRAMS AND MEMBERS OF THE CONNECTICUT GREEN BANK'S BOARD OF DIRECTORS.

General Assembly SubstituteRaised Bill No.

959 January Session, 2019 ANLCO ACTNo. CONCERNING THE CONNECTICUT GREEN BANK'S ELIGIBILITY AS A BORROWER FOR FEDERAL PROGRAMS AND MEMBERS OF THE CONNECTICUT GREEN BANK'S BOARD OF DIRECTORS.

5048 Referred to Committee on ENERGY AND TECHNOLOGY Introduced by:

(ET) AN ACT CONCERNING THE CONNECTICUT GREEN BANK'S ELIGIBILITY AS A BORROWER FOR FEDERAL PROGRAMS.

Sec.LCO No.

2.5048 1 of 2 Raised Bill No.

Subdivision959 (1)This ofact subsectionshall (e)take ofeffect sectionas 16-245nfollows ofand theshall generalamend statutes is repealed and the following issections: substituted in lieu thereof (Effective October 1, 2019):

LCOfrom \\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00959-R01passage ofSection 31 SB.docx16-245n(d)(2)(A) SubstituteStatement Billof No.Purpose:

959To (e)allow (1) The powers of the Connecticut Green Bank shall be vested in and exercisedits bysubsidiaries ato boardseek of directors, which shall consist of eleven voting and [two] one nonvoting [members] member each with knowledge and expertise in matters related to thequalify purposeas andeligible activitiesborrowers of saidfederal bankfunding. appointed as follows:

The[Proposed Treasurerdeletions orare theenclosed Treasurer's designee, the Commissioner of Energy and Environmental Protection or the commissioner's designee and the Commissioner of Economic and Community Development or the commissioner's designee, each serving ex officio, one member who shall represent a residential or low-income group appointed by the speaker of the House of Representatives for a term of four years, one member who shall have experience in investmentbrackets. fund management appointed by the minority leader of the House of Representatives for a term of three years, one member who shall represent an environmental organization appointed by the president pro tempore of the Senate for a term of four years, and one member who shall have experience in the finance or deployment of renewable energy appointed by the minority leader of the Senate for a term of four years.

Thereafter,Proposed suchadditions membersare ofindicated theby Generalunderline, Assemblynot shallunderlined.] appoint members of the boardentire totext succeedof sucha appointeesbill whoseor termsresolution expireor and each member so appointed shall hold office for a periodsection of foura yearsbill fromor theresolution firstis daynew, ofit Julyis inLCO theNo. year of his or her appointment.

The5048 Governor2 shallof appoint2 four members to the board as follows:

Two for two years who shall have experience in the finance of renewable energy;

one for four years who shall be a representative of a labor organization;

and one who shall have experience in research and development or manufacturing of clean energy.

Thereafter, the Governor shall appoint members of the board to succeed such appointees whose terms expire and each member so appointed shall hold office for a period of four years from the first day of July in the year of his or her appointment.

The president of the Connecticut Green Bank shall be elected by the members of the board.

The president of the Connecticut Green Bank shall serve on the board in an ex-officio, nonvoting capacity.

The Governor shall appoint the chairperson of the board.

The board shall elect from its members a vice chairperson and such other officers as it LCO {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00952 of 3 R01-SB.docx } Substitute Bill No.

959 deems necessary and shall adopt such bylaws and procedures it deems necessary to carry out its functions.

The board may establish committees and subcommittees as necessary to conduct its business.

This act shall take effect as follows and shall amend the following sections:

Section 1 from passage 16-245n(d)(2)(A) Sec.

2 October 1, 2019 16-245n(e)(1) ET Joint Favorable Subst.

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