SB 12 — AN ACT AUTHORIZING AND ADJUSTING BONDS OF THE STATE FOR CAPITAL IMPROVEMENTS AND OTHER PURPOSES AND CONCERNING THE CONNECTICUT BABY BOND TRUST PROGRAM AND GRANTS FOR CERTAIN LAW ENFORCEMENT EQUIPMENT AND HOMELESSNESS PREVENTION AND RESPONSE.

TheSuch Statebonds BondCommissionshallhaveshall power,inaccordancemature withtheat provisionssuch oftime thisor sectiontimes andnot sectionsexceeding 21twenty toyears 26, inclusive, of public act 21-111, from timetheir torespective timedates toas authorizemay thebe issuanceprovided ofsSB12 bonds/ ofFile theNo. state in one or more series and in principal amounts in the aggregate not exceeding [$241,565,000] $316,565,000.

609 5 sSB12 File No.

609 in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds.

(Effective July 1, 2022) None of the bonds described in sections 8 to 15, inclusive, of this act shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization, which is signed by the Secretary of the Office of Policy and Management or by or on behalf of such state officer, department or agency and stating such terms and conditions as said commission, in its discretion, may require.

Sec.

12.

(Effective July 1, 2022) For the purposes of sections 8 to 15, inclusive, of this act, "state moneys" means the proceeds of the sale of bonds authorized pursuant to said sections 8 to 15, inclusive, or of temporary notesissuedinanticipationof the moneysto bederivedfrom the sale of such bonds.

Each request filed as provided in section 11 of this act for an authorization of bonds shall identify the project for which the proceeds of the sale of such bonds are to be used and expended and, in addition to any terms and conditions required pursuant to said section 11, include the recommendation of the person signing such request as to the extent to which federal, private or other moneys then available or thereafter to be made available for costs in connection with any such project should be added to the state moneys available or becoming available under said sections 8 to 15, inclusive, for such project.

If the request includes a recommendation that some amount of such federal, private or other moneys should be added to such state moneys, then, if and to the extent directed by the State Bond Commission at the time of authorization of such bonds, such amount of such federal, private or other moneys then available or thereafter to be made available for costs in connection with such project may be added to any state moneys available or becoming available hereunder for such project and be used for such project.

Any other federal, private or other moneys then available or thereafter to be made available for costs in connection with such project upon receipt shall, in conformity with applicable federal and state law, be used by the State Treasurer to meet the principal of outstanding bonds issued pursuant to said sections 8 to sSB12 / File No.

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609 15, inclusive, or to meet the principal of temporary notes issued in anticipation of the money to be derived from the sale of bonds theretofore authorized pursuant to said sections 8 to 15, inclusive, for the purpose of financing such costs, either by purchase or redemption and cancellation of such bonds or notes or by payment thereof at maturity.

Whenever any of the federal, private or other moneys so received with respect to such project are used to meet the principal of such temporary notes or whenever the principal of any such temporary notes is retired by application of revenue receipts of the state, the amount of bonds theretofore authorized in anticipation of which such temporary noteswere issued,andtheaggregate amount ofbondswhich may be authorizedpursuant to section 8of this act shall each be reduced by the amount of the principal so met or retired.

Pending use of the federal, private or other moneys so received to meet the principal as directed in this section, the amount thereof may be invested by the State Treasurer in bonds or obligations of, or guaranteed by, the state or the United States or agencies or instrumentalities of the United States, shall be deemed to be part of the debt retirement funds of the state, and net earnings on such investments shall be used in the same manner as the moneys so invested.

Sec.

13.

(Effective July 1, 2022) The bonds issued pursuant to sections 8 to 15, inclusive, of this act shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on said bonds as the same become due, andaccordingly andas part ofthecontract ofthestate with the holders of said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due.

Sec.

14.

(Effective July 1, 2022) In accordance with section 9 of this act, the state, through the state agencies specified in said section 9, may provide grants-in-aid and other financings to or for the agencies for the purposes and projects as described in said section 9.

All financing shall be made in accordance with the terms of a contract at such time or times sSB12 / File No.

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609 as shall be determined within authorization of funds by the State Bond Commission.

Sec.

15.

(Effective July 1, 2022) In the case of any grant-in-aid made pursuant to subsection (a), (b) or (c) of section 9 of this act that is made to any entity which is not a political subdivision of the state, the contract entered into pursuant to section 9 of this act shall provide that if the premises for which such grant-in-aid was made ceases, within ten years of the date of such grant, to be used as a facility for which such grant was made, an amount equal to the amount of such grant, minus ten per cent per year for each full year which has elapsed since the date of such grant, shall be repaid to the state and that a lien shall be placed on such land in favor of the state to ensure that such amount shall be repaid in the event of such change in use, provided if the premises for which such grant-in-aid was made are owned by the state, a municipality or a housing authority, no lien need be placed.

Sec.

16.

Section 3-36b of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(a) There is established the Connecticut Baby Bond Trust.

The trust shall constitute an instrumentality of the state and shall perform essential governmental functions as provided in sections 3-36a to 3-36h, inclusive, as amended by this act.

The trust shall receive and hold all payments and deposits or contributions intended for the trust, as well as gifts, bequests, endowments or federal, state or local grants and any other funds from any public or private source and all earnings until disbursed in accordance with section 3-36c, as amended by this act, 3- 36d or 3-36g, as amended by this act.

(b) The amounts on deposit in the trust shall not constitute property of the state and the trust shall not be construed to be a department, institution or agency of the state.

Amounts on deposit in the trust shall not be commingled with state funds and the state shall have no claim to or against, or interest in, suchfunds.

Any contract enteredinto by or any obligationofthetrust shallnot constitute adebt orobligationofthestate sSB12 / File No.

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609 and the state shall have no obligation to any designated beneficiary or any other person on account of the trust and all amounts obligated to be paid from the trust shall be limited to amounts available for such obligation on deposit in the trust.

The amounts on deposit in the trust may only be disbursed in accordance with the provisions of section 3- 36c, as amended by this act, 3-36d or 3-36g, as amended by this act.

The trust shall continue in existence as long as it holds any deposits or has any obligations and until its existence is terminated by law and upon termination any unclaimed assets shall return to the state.

Property of the trust shall not be governed by section 3-61a.

(c) The Treasurer shall be responsible for the receipt, maintenance, administration, investing and disbursements of amounts from the trust.

The trust shall not receive deposits in any form other than cash.

Sec.

17.

Section 3-36c of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

The Treasurer, on behalf of the trust and for purposes of the trust, may:

(1) Receive and invest moneys in the trust in any instruments, obligations, securities or property in accordance with section 3-36d;

(2) Enter into one or more contractual agreements, including contracts for legal, actuarial, accounting, custodial, advisory, management, administrative, advertising, marketing and consulting services for the trust and pay for such services from the assets of the trust;

(3) Procure insurance in connection with the trust's property, assets, activities or deposits to the trust;

(4) Apply for, accept and expend gifts, grants or donations from public or private sources to enable the trust to carry out its objectives;

(5) Adopt regulations in accordance with chapter 54 for purposes of sSB12 / File No.

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609 [public act 21-111] sections 3-36b to 3-36i, inclusive, as amended by this act;

(6) Sue and be sued;

(7) Establish one or more funds within the trust;

and (8) Take any other action necessary to carry out the purposes of [public act 21-111] sections 3-36b to 3-36i, inclusive, as amended by this act, and incidental to the duties imposed on the Treasurer pursuant to [public act 21-111] said sections.

Sec.

18.

Section 3-36e of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

[The property of the trust and the earnings on] Disbursements from the trust shall be exempt from all taxation by the state and all political subdivisions of the state.

Sec.

19.

Section 3-36f of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(a) Notwithstanding any provision of the general statutes, to the extent permitted by federal law, no [moneys invested in] disbursements from the Connecticut Baby Bond Trust shall be considered to be an asset or income for purposes of determining an individual's eligibility for assistance under any program administered by the [Department of Social Services] state.

(b) Notwithstanding any provision of the general statutes, no [moneys invested in] disbursements from the trust shall be considered to be an asset for purposes of determining an individual's eligibility for need-based, institutional aid grants offered to an individual at the public eligible educational institutions in the state.

Sec.

20.

Section 3-36g of the 2022 supplement to the general statutes sSB12 / File No.

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609 is repealed and the following is substituted in lieu thereof (Effective from passage):

[(a) The Treasurer shall establish in the Connecticut Baby Bond Trust an accounting for each designated beneficiary.

Each such accounting shall include the amount transferred to the trust pursuant to section 3- 36h, plus the designated beneficiary's pro ratashare of totalnet earnings from investments of sums held in the trust.] [(b)] (a) Upon a designated beneficiary's eighteenth birthday and completion of a financial literacy requirement as prescribed by the Treasurer, such beneficiary shall become eligible to [receive] request an amount, to be used for payment of an eligible expenditure, of up to the total sum of the [accounting under subsection (a) of this section to be used for an eligible expenditure.

The Treasurer may adopt regulations, in accordance with the provisions of chapter 54, to carry out the purposes of this section] amount transferred on behalf of the designated beneficiary pursuant to section 3-36h, as amended by this act, and adjusted, if applicable, in accordance with said section, plus the designated beneficiary's pro rata share of total net earnings from investments of sums held in the trust at the time of disbursement.

[(c)] (b) A designated beneficiary may submit a claim [for such accounting] pursuant to subsection (a) of this section, in such form and manner as prescribed by the Treasurer, until his or her thirtieth birthday, [as prescribed by the Treasurer,] provided such designated beneficiary is a resident of the state at the time of such claim.

If a designated beneficiary (1) is deceased before submitting a valid claim, or (2) fails to submit a valid claim, as determined by the Treasurer, before his or her thirtieth birthday, [such accounting] the sum such designated beneficiary was eligible to claim shall be [credited back to the assets of] retained by the trust to credit to designated beneficiaries born in subsequent years.

[(d)] (c) Subject to obtaining adequate consent authorizing the disclosure of confidential information related to designated beneficiaries in accordance with all applicable state or federal laws, the sSB12 / File No.

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609 Treasurer and the Department of Social Services shall enter into a memorandum of understanding to establish information sharing practicesinordertocarryoutthepurposesof [publicact21-111]sections 3-36b to 3-36h, inclusive, as amended by this act.

Sec.

21.

Section 3-36h of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

[Upon] After the birth of a designated beneficiary, the Treasurer may transfer up to three thousand two hundred dollars [from the bond proceeds issued pursuant to section 3-36i] to the trust.

[to be credited toward the accounting of such designated beneficiary as described in section 3-36g.] For any year in which the funds [made available] authorized pursuant to section 3-36i, as amended by this act, [is] are insufficient to provide such amount per designated beneficiary, the amount so transferred shall be reduced pro rata and the Treasurer shall adjust the shares of each designated beneficiary accordingly.

For any year in which such funds are in excess of the amount sufficient to provide such amount per designated beneficiary, the excess funds shall be retained by the trust to credit to designated beneficiaries born in subsequent years.

Sec.

22.

Section 3-36i of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(a) The State Bond Commission may authorize the issuance of bonds of the state, in accordance with the provisions of section 3-20, in principal amounts not exceeding in the aggregate six hundred million dollars.

The proceeds of the sale of bonds described in this section shall be used for the purpose of funding the transfers provided for under section 3-36h, as amended by this act.

The amount authorized for the issuance andsale ofsuchbondsineachofthefollowing fiscalyearsshall not exceed the following corresponding amount for each such fiscal year, except that, to the extent the State Bond Commission does not provide for the use of all or a portion of such amount in any such fiscal sSB12 / File No.

609 12 sSB12 File No.

609 year, such amount not provided for shall be carried forward and added to the authorized amount for the next two succeeding fiscal years, and provided further, the costs of issuance, including expenses of implementing the provisions of sections 3-36b to 3-36h, inclusive, as amended by this act, and capitalized interest, if any, may be added to the capped amount in each fiscal year, and each of the authorized amounts shall be effective on July first of the fiscal year indicated as follows:

T1 Fiscal Year Ending Amount T2 June Thirtieth T3 [$50,000,000] $100,000,000 T4 2024 $50,000,000 T5 2025 $50,000,000 T6 2026 $50,000,000 T7 2027 $50,000,000 T8 2028 $50,000,000 T9 2029 $50,000,000 T10 2030 $50,000,000 T11 $50,000,000 T12 2032 $50,000,000 T13 2033 $50,000,000 T14 [2034 $50,000,000] (b) [On or before the first day of September ineach year, commencing September 1, 2022] Commencing with the fiscal year ending June 30, 2023, not later than the first day of September of each fiscal year, the Department of Social Services shall inform the Treasurer of the number of designated beneficiaries born in the prior fiscal year.

Promptly thereafter, the Treasurer shall submit to the Governor and the Secretary of the Office of Policy and Management, by certified mail, a report of sSB12 / File No.

609 13 sSB12 File No.

609 anda calculationofthetotalamount requiredto [deposit]betransferred to the trust [for crediting] to credit three thousand two hundred dollars [for the account of] to each such designated beneficiary born in the prior fiscal year.

[as described in section 3-36g.] (c) All provisions of section 3-20, or the exercise of any right or power granted thereby which are not inconsistent with the provisions of this section, are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section, and 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 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.

All such bonds, notes or other obligations shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on such bonds, notes or other obligations as the same shall become due, and accordingly and as part of the contract of the state with the holders of such bonds, notes or other obligations, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the Treasurer shall pay such principal and interest as the same become due.

[All such bonds, notes or other obligations shall be sold at not less than par and accrued interest in such manner and on such terms as the Treasurer may determine is in the best interest of the state, and shall be signed in the name of the state and on its behalf by the Treasurer.

All such bonds, notes or other obligations shall mature at such time or times not later than twenty years after their respective issuance, in such principal amounts and at such times, bear such date or dates, be payable at such place or places, bear interest at such rate or different or varying rates, payable at such time or times, be in such denominations, be in such form with or without interest coupons attached, carry such registration and transfer privileges, be payable in such medium of payment, be subject to such terms of redemption with or without premium and have such additional security, covenant or contract sSB12 / File No.

609 14 sSB12 File No.

609 provisions, as appropriate or necessary to improve their marketability, as the Treasurer shall determine prior to their issuance.

In connection with such bonds, notes or other obligations, the Treasurer may enter into such paying agent agreements, indentures of trust, escrow agreements or other agreements, with such parties and with such provisions as the Treasurer determines are appropriate or necessary.

(d) The Treasurer may obtain from a commercial bank or insurance company authorized to do business within or without this state a letter of credit, line of credit or other liquidity facility or credit facility for the purpose of providing funds for the payments in respect of bonds, notes or other obligations required by the holder thereof to be redeemed or repurchased prior to maturity or for providing additional security for such bonds, notes or other obligations.

In connection with any such liquidity facility or credit facility, the Treasurer may enter into any reimbursement agreements,remarketing agreements,standby purchase agreements or any other necessary or appropriate agreements on behalf of the state in connection with securing, insuring or remarketing such bonds, notes or other obligations, on such terms and conditions as the Treasurer determines to be in the best interest of the state.

The Treasurer is authorized to pledge the full faith and credit of the state to the state's payment obligations under any such agreement and the Treasurer is authorized to include such pledge in any such agreement as part of the contract with the provider of such liquidity facility or credit facility.

The Treasurer shall apply any appropriation for the payment of such bonds, notes or other obligations to such reimbursement repayment if such liquidity facility or credit facility is drawn upon.

As part of the contract of the state with the other parties to any agreement entered into pursuant to this subsection for which the full faith and credit of the state is pledged to the state's payment obligations under such agreement, appropriation of all amounts necessary for the punctual payment of the obligations of the state under any such agreement is hereby made and the Treasurer shall pay such amounts as the same become due.

(e) In connection with or incidental to the carrying of such bonds, notes or other obligations, or in connection with or incidental to the sale sSB12 / File No.

609 15 sSB12 File No.

609 and issuance of such bonds, notes or other obligations, the Treasurer may enter into such contracts as the Treasurer may determine to be necessary or appropriate to place the obligation of the state, as represented by the bonds, notes or other obligations, in whole or in part, on such interest rate or cash flow basis as the Treasurer may determine, including without limitation, interest rate swap agreements, insurance agreements, forward payment conversion agreements, futures contracts, contracts providing for payments based on levels of, or changes in, interest rates or market indices, contracts to manage interest rate risk, including without limitation, interest rate floors or caps, options, puts, calls and similar arrangements.

Such contracts shall contain such payment, security, default, remedy and other terms and conditions as the Treasurer may deem appropriate and shall be entered into with such party or parties as the Treasurer may select, after giving due consideration, where applicable, for the creditworthiness of the counter party or counter parties, including any rating by a nationally recognized rating agency, the impact on any rating on outstanding bonds, notes or other obligations or any other criteria as the Treasurer may deem appropriate, provided the unsecured long-term obligations of the counter party or counter parties are rated the same or higher than the underlying rating of the state on the applicable bonds, notes or other obligations by at least one nationally recognized rating agency.

The Treasurer is authorized to pledge the full faith and credit of the state to the state's payment obligations under any contract entered into pursuant to this subsection.

As part of the contract of the state with the other parties to any agreement entered into pursuant to this subsection for which the full faith and credit of the state is pledged to the state's payment obligations under such agreement, appropriation of all amounts necessary for the punctual payment of the obligations of the state under any such agreement is hereby made and the Treasurer shall pay such amounts as the same become due.

(f) The Superior Court shall have jurisdiction to enter judgment against the state founded (1) upon any express contract between the state and the purchasers and subsequent owners and transferees of any bonds, notes or other obligations issued or contracted to be issued by sSB12 / File No.

609 16 sSB12 File No.

609 the state pursuant to this section, and (2) upon any agreement entered into pursuant to subsection (c) or (d) of this section.

Any action brought under this subsection shall be brought in the superior court for the judicial district of Hartford.

The jurisdiction conferred upon the Superior Court by this subsection includes any set-off, claim or demand onthepartofthestateagainst any plaintiffcommencing anactionunder this subsection.

Such action shall be tried to the court without a jury.

All legal defenses, except governmental immunity, shall be reserved to the state.

Any action brought under this subsection shall be privileged in respect to assignment for trial upon motion of either party.

(g) Any expense incurred in connection with the issuance or renewal of the bonds, notes or other obligations issued pursuant to this section shall be paid from the accrued interest and premiums on such bonds, notes or other obligations, from the proceeds of the sale of such bonds, notes or other obligations or otherwise from the General Fund.

The Treasurer is authorized to issue such bonds, notes or other obligations in such form and manner that the interest on such bonds, notes or other obligations may be includable or excludable under the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time, in the gross income of the holders or owners of such bonds, notes or other obligations.

The Treasurer may make representations and agreements for the benefit of the holders or owners of any such bonds, notes or other obligations which are necessary or appropriate to ensure the inclusion or exclusion of interest on such bonds, notes or other obligations of the state from taxation under the Internal Revenue Code of 1986 or any subsequent corresponding internal revenue code of the United States, as amended from time to time, including agreements to pay rebates to the federal government of investment earnings derived from the investment of the proceeds of bonds, notes or other obligations.

The Treasurer may make representations and agreements for the benefit of the holders or owners ofsuchbonds,notesor otherobligationsonbehalfofthestatetoprovide secondary market disclosure information.

Any such agreement may include:

(1) Covenants to provide secondary market disclosure information, (2) arrangements for such information to be provided with sSB12 / File No.

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609 the assistance of a paying agent, trustee or other agent, and (3) remedies for breach of such agreement, which remedies may be limited to specific performance.

The state shall protect and save harmless any official or former official of the state from financial loss and expense, including legal fees and costs, if any, arising out of any claim, demand, suit or judgment by reason of alleged negligence on the part of such official, while acting in the discharge of his or her official duties, in providing secondary market disclosure information or performing any other duties set forth in any agreement to provide secondary market disclosure information.

Nothing in this section shall be construed to preclude the defense of governmental immunity to any such claim, demand or suit.

For purposes of this subsection "official" means any person elected or appointed to office or any state employee.

This indemnity provisionshallnot applytocasesofwilfulandwantonfraud.

(h) All such bonds, notes or other obligations, their transfer and the income therefrom, including any profit on the sale or transfer thereof, shall at all times be exempt from all taxation by the state or under its authority, except for estate or succession taxes, but the interest on such bonds, notes or other obligations shall be included in the computation of any excise or franchise tax.

Such bonds, notes or other obligations are hereby made and declared to be (1) legal investments for savings banks and trustees unless otherwise provided in the instrument creating the trust, (2) securities in which all public officers and bodies, all insurance companies and associations and persons carrying on an insurance business,allbanks,bankers,trustcompanies,savingsbanksandsavings associations, including savings and loan associations, building and loan associations, investment companies and persons carrying on a banking or investment business, all administrators, guardians, executors, trustees and other fiduciaries and all persons who are or may be authorized to invest in bonds, notes or other obligations of the state, may properly and legally invest funds, including capital in their control or belonging to them, and (3) securities that may be deposited with and shall be received by all public officers and bodies for any purpose for which the deposit of bonds, notes or other obligations of the state is or may be authorized.] sSB12 / File No.

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609 Sec.

23.

Section 3-13c of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

[Trust funds as] As used in sections 3-13 to 3-13e, inclusive, and 3- 31b, [shall be construed to include] "trust funds" includes the Connecticut Municipal Employees' Retirement Fund A, the Connecticut Municipal Employees' Retirement Fund B, the Soldiers, Sailors and Marines Fund, the Family and Medical Leave Insurance Trust Fund, the State's Attorneys' Retirement Fund, the Teachers' Annuity Fund, the Teachers' Pension Fund, the Teachers' Survivorship and Dependency Fund, the School Fund, the State Employees Retirement Fund, the Hospital Insurance Fund, the Policemen and Firemen Survivor's Benefit Fund, any trust fund described in subdivision (1) of subsection (b) of section 7-450 that is administered, held or invested by the State Treasurer, the Connecticut Baby Bond Trust and all other trust funds administered, held or invested by the State Treasurer.

Sec.

24.

Subsection (a) of section 4a-10 of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022):

(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 [five hundred forty- six million one hundred thousand dollars, provided ten million dollars of said authorization shall be effective July 1, 2022] five hundred sixty- one million one hundred thousand dollars.

Sec.

25.

Subsection (c) of section 7-277c of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022):

(c) The Office of Policy and Management shall distribute grants-in- aid pursuant to this section during the fiscal years ending June 30, 2021, [and] June 30, 2022, and June 30, 2023.

Any such grant-in-aid shall be for sSB12 / File No.

609 19 sSB12 File No.

609 up to fifty per cent of the cost of such purchase of body-worn recording equipment, digital data storage devices or services or dashboard cameras with a remote recorder if the municipality is a distressed municipality, as defined in section 32-9p, or up to thirty per cent of the costofsuchpurchaseifthemunicipalityisnot adistressedmunicipality, provided the costs of such digital data storage services covered by a grant-in-aid shall not be for a period of service that is longer than one year.

Sec.

26.

Subsection (b) of section 8-37mm of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022):

(b) The proceeds of the sale of said bonds, to the extent of the amount stated in subsection (a) of this section shall be used by the Department of Housing for the purposes of a homelessness prevention and response fund to provide [forgivable loans or] grants to [(1) landlords to renovate multifamily homes, including performing building code compliance work and other major improvements, in exchange for the landlord's participation in a rapid rehousing program.

A landlord's participation in such program would include, but not be limited to, waiving security deposits and abatement of rent for a designated period;

and (2) landlords to renovate multifamily homes, including performing building code compliance work and other major improvements, fund ongoing maintenance and repair, or] capitalize operating and replacement reserves in [exchange for the abatement of rent by a landlord for scattered site] supportive housing units.

Sec.

27.

Section10-287dofthe2022supplement to thegeneralstatutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022):

For the purposes of funding (1) grants to projects that have received approval of the Department of Administrative Services pursuant to sections 10-287 and 10-287a, subsection (a) of section 10-65 and section 10-76e, (2) grants to assist school building projects to remedy safety and health violations and damage from fire and catastrophe, and (3) sSB12 / File No.

609 20 sSB12 File No.

609 technical education and career school projects pursuant to section 10- 283b, the State Treasurer is authorized and directed, subject to and in accordancewiththeprovisionsofsection3-20,toissuebondsofthestate from time to time in one or more series in an aggregate amount not exceeding thirteen billion [seven] six hundred twelve million one hundred sixty thousand dollars.

[, provided five hundred fifty million dollars of said authorization shall be effective July 1, 2022.] Bonds of eachseriesshallbearsuchdateordatesandmatureatsuchtimeortimes not exceeding thirty years from their respective dates and be subject to such redemption privileges, with or without premium, as may be fixed by the State Bond Commission.

They shall be sold at not less than par and accrued interest and the full faith and credit of the state is pledged for the payment of the interest thereon and the principal thereof as the same shall become due, and accordingly and as part of the contract of the state with the holders of said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due.

The State Treasurer is authorized to invest temporarily in direct obligations of the United States, United States agency obligations, certificates of deposit, commercial paper or bank acceptances such portion of the proceeds of such bonds or of any notes issued in anticipation thereof as may be deemed available for such purpose.

Sec.

28.

Subsection (a) of section 23-103 of the 2022 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022):

(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 principalamountsnotexceedingintheaggregate [nineteen]twenty-two million dollars.

[, provided three million dollars of said authorization shall be effective July 1, 2022.] Sec.

29.

Section 8 of public act 14-98, as amended by section 189 of sSB12 / File No.

609 21 sSB12 File No.

609 public act 16-4 of the May special session, section 517 of public act 17-2 of the June special session, section 28 of public act 18-178 and section 68 of public act 21-111, is amended to read as follows (Effective July 1, 2022):

The State BondCommissionshallhave power,inaccordance withthe provisions of this section and sections 9 to 15, inclusive, of public act 14- 98, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts in the aggregate, not exceeding [$172,765,800] $182,765,800.

Sec.

30.

Subdivision (4) of subsection (e) of section 9 of public act 14- 98, as amended by section 69 of public act 21-111, is amended to read as follows (Effective July 1, 2022):

(4) Grants-in-aid to nonprofit organizations sponsoring children's museums, aquariums and science-related programs, not exceeding [$27,100,000] $37,100,000, provided not more than [$10,500,000] $20,500,000 shall be used as a grant-in-aid to the Connecticut Science Center, not more than $6,600,000 shall be used as a grant-in-aid to the Maritime Aquarium in Norwalk and not more than $10,000,000 shall be used as a grant-in-aid to the Children's Museum in West Hartford;

Sec.

31.

Section 1 of public act 21-111 is amended to read as follows (Effective July 1, 2022):

The State BondCommissionshallhave power,inaccordance withthe provisionsofthissectionandsections2to7,inclusive,of [thisact]public act 21-111, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts in the aggregate not exceeding [$334,558,500] $334,058,500.

Sec.

32.

Subsection (e) of section 2 of public act 21-111 is repealed.

(Effective July 1, 2022) Sec.

33.

Section 20 of public act 21-111, as amended by section 472 of public act 21-2 of the June special session, is amended to read as follows (Effective July 1, 2022):

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609 22 sSB12 File No.

609 The State BondCommissionshallhave power,inaccordance withthe provisions of this section and sections 21 to 26, inclusive, of public act 21-111, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts in the aggregate not exceeding [$241,565,000] $286,565,000.

Sec.

34.

12.35.

Alterations, renovations, and improvements to existing state-owned buildings for inmate housing, programming and staff training space and additional inmate capacity, and for support facilities and off-site improvements, not exceeding [$10,000,000] $70,000,000.$40,000,000.

LCOSec. No.

63336. 5 of 6 Governor's Bill No.

12Section This31 actof shallpublic takeact effect21-111, as followsamended andby shallsection amend474 of public act 21-2 of the followingJune sections:special session, is amended to read as follows (Effective July 1, 2022):

The State BondCommissionshallhave power,inaccordance withthe provisions of this section and sections 32 to 38, inclusive, of public act 21-111, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts in the aggregate, not exceeding [$198,550,000] $203,550,000.

Sec.

37.

Subdivision (1) of subsection (b) of section 32 of public act 21- 111 is amended to read as follows (Effective July 1, 2022):

(1) Grants-in-aid to municipalities for open space land acquisition and development for conservation or recreational purposes, not exceeding [$10,000,000] $15,000,000;

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609 23 sSB12 File No.

609 Sec.

38.

(Effective July 1, 2022) (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.

(b) The proceeds of the sale of said bonds, to the extent of the amount stated in subsection (a) of this section, shall be used by the Connecticut State Colleges and Universities for the purpose of constructing, improving or equipping child care centers on or near college and university campuses, including, but not limited to, payment of associated costs for architectural, engineering or demolition services.

(c)Allprovisionsofsection3-20ofthegeneralstatutes,ortheexercise of any right or power granted thereby, which are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section, and 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 said section 3-20 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.

None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization which is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require.

Said bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on said bonds as the same become due, and accordingly and as part of the contract of the state with the holders of said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due.

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609 24 sSB12 File No.

609 Sec.

39.

(Effective July 1, 2022) (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 twenty million dollars.

(b) The proceeds of the sale of said bonds, to the extent of the amount stated in subsection (a) of this section, shall be used by the Department of Housing for the purpose of developing housing for health care workers, in collaboration with the Chief Workforce Officer.

(c)Allprovisionsofsection3-20ofthegeneralstatutes,ortheexercise of any right or power granted thereby, which are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section, and 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 said section 3-20 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.

None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization which is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require.

Said bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on said bonds as the same become due, and accordingly and as part of the contract of the state with the holders of said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due.

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

8 July 1, 2022 4a-10(a)New section Sec.

9 July 1, 2022 7-277c(c)New section Sec.

10 July 1, 2022 PANew 21-111,section Sec.

2011 July 1, 2022 New section Sec.

1112 July 1, 2022 PANew 21-111,section Sec.

13 July 1, 2022 New section Sec.

14 July 1, 2022 New section Sec.

15 July 1, 2022 New section Sec.

16 from passage 3-36b Sec.

17 from passage 3-36c Sec.

18 from passage 3-36e Sec.

19 from passage 3-36f Sec.

20 from passage 3-36g Sec.

21 from passage 3-36h Sec.

22 from passage 3-36i Sec.

23 from passage 3-13c Sec.

24 July 1, 2022 4a-10(a) Sec.

25 July 1, 2022 7-277c(c) Sec.

26 July 1, 2022 8-37mm(b) Sec.

27 July 1, 2022 10-287d Sec.

28 July 1, 2022 23-103(a) Sec.

29 July 1, 2022 PA 14-98, Sec.

8 Sec.

30 July 1, 2022 PA 14-98, Sec.

9(e)(4) Sec.

31 July 1, 2022 PA 21-111, Sec.

1 Sec.

32 July 1, 2022 PA 21-111, Sec.

2(e) Sec.

33 July 1, 2022 PA 21-111, Sec.

20 July 1, 2022 Sec.

34 PA 21-111, Sec.

1235 July 1, 2022 PA 21-111, Sec.

21(j) StatementSec. of Purpose:

To36 implementJuly the1, Governor's2022 budgetPA recommendations.21-111, Sec.

[Proposed31 deletionsSec. are enclosed in brackets.

Proposed37 additionsJuly are1, indicated2022 byPA underline,21-111, exceptSec. that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.] LCO No.

63332(b)(1) 6Sec. of 6

38 July 1, 2022 New section sSB12 / File No.

609 26 sSB12 File No.

609 Sec.

39 July 1, 2022 New section FIN Joint Favorable Subst.

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609 27 sSB12 File No.

609 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 23 $ Treasurer, Debt Serv.

GF - Cost See Below Resources of the General Fund GF - Precludes See Below Revenue Gain Note:

GF=General Fund Municipal Impact:

Municipalities Effect FY 23 $ Various Municipalities Potential See Below Revenue Gain Explanation BONDING Table 1 below summarizes the increases and reductions made to General Obligation (GO) bonds in FY 23.

1 Table 1:

FY 22 and FY 23 Increases and Reductions to GO, STO, and CWF Bond Authorizations (in millions) Description FY 23 $ General Obligation (GO) Bonds New Authorizations 337.8 Changes to Prior Authorizations 128.0 The fiscal impact is limited to just those bond authorizations changed in the bill and does not reflect the overall amount of bond authorizations effective under current law in FY 23.

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609 28 sSB12 File No.

609 Reductions to Current Authorizations (100.5) NET TOTAL GO BONDS 365.3 Table 2 indicates the eventual total General Fund fiscal impact of the bill,throughdebt service, ifallbondsauthorizedby thebillare allocated by the State Bond Commission and issued by the Office of the State Treasurer.

If newauthorizationsare fully allocated when effective, there would be a cost to the General Fund for debt service of approximately $18.3 million in FY 24.

The remaining debt service costs identified in Table 2 would be repaid after FY 24.

Table 2:

Net GO Bond Authorizations and Estimated Total Debt Service Cost (in millions) Fiscal Year Authorization Amount $ Total Estimated Debt Authorized Service Cost $ 365.3 522.6 1Debt service estimates based on market rates and repaid over 20 year terms.

Municipal Impact of Bonding Provisions To the extent authorized bonds are allocated by the State Bond Commission, new authorizations for multiple bond programs, including programs regarding municipal traffic signals, municipal purchase of electric buses, school HVAC construction, open space conservation, and clean water programs, will result in potential revenue gain to various municipalities.

Baby Bonds Program Changes Besides the $50 million increase in GO bonds for the Baby Bonds program reflected in the totals provided above, the bill eliminates the FY 34 authorization for the program of $50 million.

The bill also alters technical and administrative aspects of the program.

Future General Fund debt service costs may be incurred sooner under the bill to the degree that it causes future authorized GO bond funds to be available, expended, or to be expended more rapidly than they otherwise would sSB12 / File No.

609 29 sSB12 File No.

609 have been.

The bill also exempts disbursements from the fund from state and local taxes, which precludes a potential revenue gain to the state beginning in FY 40.

The Out Years To the extent that bonds are allocated and issued, debt service payments may extend up to 20 years from the time, and under of the terms, of issuance.

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609 30 sSB12 File No.

609 OLR Bill Analysis sSB 12 AN ACT AUTHORIZING AND ADJUSTING BONDS OF THE STATE FOR CAPITAL IMPROVEMENTS AND OTHER PURPOSES AND CONCERNING THE CONNECTICUT BABY BOND TRUST PROGRAM AND GRANTS FOR CERTAIN LAW ENFORCEMENT EQUIPMENT AND HOMELESSNESS PREVENTION AND RESPONSE.

SUMMARY This bill authorizes $465.8 million in new general obligation (GO) bonds for FY 23 for state projects and grant programs.

This includes grants for school air quality improvements ($100 million), traffic signal modernization ($75 million), and matching funds for federal Infrastructure Investment and Jobs Act projects and programs ($75 million).

It also cancels $100.5 million in existing GO bond authorizations.

The bill also does the following:

1.

makes various changes to the Connecticut Baby Bond Trust program, including modifying theprogram’sbondauthorization schedule andexempting thetrust’sdisbursements, ratherthanits property and earnings, from all state and local taxes;

2.

extends, to FY 23, the Office of Policy and Management (OPM) municipal grant program for costs associated with purchasing eligible police body cameras, digital data storage devices or services, and dashboard cameras;

and 3.

changes the purposes for which the Department of Housing (DOH) may use the bond-funded homelessness prevention and response fund.

EFFECTIVE DATE:

July 1, 2022, except the Baby Bond program sSB12 / File No.

609 31 sSB12 File No.

609 changes are effective upon passage.

§§ 1-15 & 38-39 — NEW BOND AUTHORIZATIONS FOR STATE AGENCY PROJECTS The bill authorizes state GO bonds in FY 23 for the state projects and grant programs listed in the table below.

The bonds are subject to standard issuance procedures and have a maximum term of 20 years.

The bill includes a standard provision requiring, as a condition of bond authorizations for grants to private entities, each granting agency to include repayment provisions in its grant contract if the facility for which the grant is made ceases to be used for the grant purposes within years of receipt.

(It exempts the Connecticut Higher Education SupplementalLoanAuthority(CHESLA)grantsfromthisrequirement.) The required repayment is reduced by 10% for each full year that the facility is used for the grant purpose.

Table 1:

GO Bond Authorizations for State Projects and Grant Programs (FY 23) § Agency For Amount STATE PROJECTS 2(a) OPM State matching funds for projects and programs $75,000,000 allowed under the federal Infrastructure Investment and Jobs Act 2(b) Agricultural Renovations and improvements to Jenkins 800,000 Experiment Laboratory greenhouses Station 2(c) Department of Assisting municipalities to modernize existing 75,000,000 Transportation traffic signal equipment and operations Matching funds necessary for municipalities, 20,000,000 school districts, and school bus operators to submit federal grant applications in order to maximize federal funding for purchasing or leasing zero-emission electric school buses and electric vehicle charging infrastructure Constructing, altering, renovating, and 5,000,000 improving noise barriers Connecticut State Constructing, improving, or equipping child care 10,000,000 Colleges and centers on or near college and university Universities campuses, including paying associated architectural, engineering, or demolition service costs sSB12 / File No.

609 32 sSB12 File No.

609 § Agency For Amount DOH Developing housing for health care workers i20,000,000 collaboration with the chief workforce officer GRANTS 9(a) OPM Grants to food resource organizations for ca10,000,000 improvements 9(b) Department of Grants for school air quality improvements,100,000,000 Administrative including upgrading, replacing, or installing Services (DAS) heating, ventilation, and air conditioning equipment 9(c) Department of Grants for farmland restoration and climate 7,000,000 Agriculture resiliency 9(d) CHESLA Grants to state residents who graduate from 15,000,000 state university or college for student loan reimbursement §§ 16-23 — CONNECTICUT BABY BOND TRUST PROGRAM TheConnecticut Baby BondTrust program,administeredby thestate treasurer, authorizes up to $600 million in bonds to provide designated beneficiaries (i.e., babies born on or after July 1, 2021, whose births were covered under HUSKY) up to $3,200 in a statetrust.

Once they reachage 18, designated beneficiaries that meet the program’s eligibility requirements may receive the funds, including any investment earnings, to be used for an eligible expenditure (e.g., education, buying a home or investing in a business in Connecticut, and personal financial investments).

The bill makes various changes to the program, as described below, including minor, technical, and conforming changes and corrections.

Amounts Transferred for Designated Beneficiaries Under current law, the state treasurer must establish an accounting for each designated beneficiary and may transfer up to $3,200 from the program’s bond proceeds to the trust to be credited to the beneficiary’s accounting at birth.

The bill eliminates the requirement that (1) each designated beneficiary have an accounting and (2) the transferred funds come from these bond proceeds (see Bond Authorization below).

It also allows the transfer to be made after the designated beneficiary’s birth, rather than at birth.

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609 33 sSB12 File No.

609 Under current law, if a designated beneficiary fails to submit a valid claim before his or her 30th birthday or dies before doing so,the amount of his or her accounting is credited back to the trust’s assets.

The bill instead requires that this amount be retained by the trust to credit to designated beneficiaries born in subsequent years.

Existing law requires the treasurer to proportionately reduce the transfer amount for any year in which the bond funds are insufficient to provide the $3,200 transfer to each beneficiary.

The bill also requires, for any year in which these funds exceed the amount required to provide the transfer, that any excess be kept by the trust to credit to designated beneficiaries born in later years.

It also makes technical and conforming changes.

Bond Authorization Current law authorizes the treasurer to issue up to $600 million in state general obligation bonds for the program, in amounts of up to $50 million per year from FYs 23-34.

The bill increases the FY 23 authorization to $100 million and eliminates the $50 million authorization for FY 34.

It also authorizes the program’s implementation expenses to be added to the capped amount of bonds authorized for each year of the program.

Current law requires the Baby Bonds program to be funded with bonds from a specific bond issuance and incorporates certain provisions relating to this issuance, including the treasurer’s powers in connection with the bond sale and certain legal actions related to the bonds.

The bill instead subjects the bonds authorized under the program to standard statutory bond procedures and repayment requirements.

State and Local Tax Exemption The bill exempts disbursements from the trust, rather than the trust’s property and earnings, from all state and local taxes.

Treasurer Oversight The bill explicitly subjects the treasurer’s trust investments to the same oversight and requirements that the law establishes for other treasurer-administered funds, such as the Teachers’ Pension Fund, the sSB12 / File No.

609 34 sSB12 File No.

609 State Employee Retirement Fund, and the Connecticut Municipal Employees’RetirementFund(e.g.,investmentreviewbytheInvestment Advisory Council).

Abandoned Property The bill exempts the trust’s property from the law for determining when property held by a fiduciary is presumed abandoned.

Impact on Assistance Programs and Need-Based Aid The bill prohibits disbursements from the trust from being considered assets or income when determining an individual’s eligibility for (1) state-administered assistance programs, to the extent allowed by federal law, or (2) need-based, institutional aid grants offered at the state’s public eligible educational institutions.

In doing so, it eliminates similar provisions in current law that applied to funds invested in the trust.

§§ 24 & 27-37 — CHANGES TO EXISTING AUTHORIZATIONS §§ 24, 28-30, 33 & 34 — Increases to Existing Authorizations The bill increases the amounts authorized for the existing bond authorizations, as shown in Table 2.

Table 2:

Increases to Existing Authorizations § Agency Purpose/Fund Current Bill’s Increase Authorization Authorization OPM Capital Equipment $10,000,000 $25,000,000 $15,000,000 Purchase Fund Department of Connecticut 3,000,000 6,000,000 3,000,000 Energy and bikeway, Environmental pedestrian Protection walkway, (DEEP) recreational trail, and greenway grant program Department of Grant to the 10,500,000 20,500,000 10,000,000 Economic and Connecticut Community Science Center Development DEEP Alterations, 15,000,000 30,000,000 15,000,000 renovations, and new construction sSB12 / File No.

609 35 sSB12 File No.

609 § Agency Purpose/Fund Current Bill’s Increase Authorization Authorization at state parks and other recreation facilities, including Americans with Disabilities Act improvements Department of Alterations, 10,000,000 40,000,000 30,000,000 Correction renovations, and improvements to existing state- owned buildings for inmate housing, programming and staff training space, additional inmate capacity, support facilities, and off-site improvements DEEP Grants to 10,000,000 15,000,000 5,000,000 municipalities for open space acquisition and development for conservation or recreational purposes §§ 27 & 31-32 — Cancellations and Reductions The bill cancels or reduces the authorizations shown in Table 3.

Table 3:

Bond Cancellations and Reductions § Agency Purpose/Fund Current Amount Authorization Cancelled DAS School construction $550,000,000 $100,000,000 projects Department of Development of a master 500,000 500,000 Motor Vehicles plan for department facilities § 25 — GRANT PROGRAM FOR PURCHASING ELIGIBLE BODY AND DASHBOARD CAMERAS AND RELATED EQUIPMENT AND SERVICES sSB12 / File No.

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609 The bill extends, to FY 23, the OPM-administered municipal grant program for costs associated with purchasing eligible police body cameras, digital data storage devices or services, and certain dashboard cameras.

By law, the grants are for up to 50% of the associated costs for distressed municipalities and 30% for all other municipalities.

§ 26 — HOMELESS PREVENTION AND RESPONSE FUND Existing law authorizes up to $30 million to DOH for a homelessness preventionandresponsefund.Undercurrentlaw,thefundistoprovide forgivable loans and grants to landlords (1) participating in a rapid rehousing program (e.g., waiting security deposits or abating rent for a designatedperiod)and(2)abating rent for scatteredsupportivehousing units, by among other things, capitalizing operating and replacement reserves for these units.

The bill limits the fund’s purposes to providing grants to capitalize operating and replacement reserves in supportive housing units.

BACKGROUND Related Bills sSB 384, favorably reported by the Finance, Revenue and Bonding Committee, contains the same changes to the Baby Bond program.

sSB 4 (File 406), favorably reported by the Transportation and Finance, Revenue and Bonding committees, authorizes (1) $75 million in GO bonds to assist municipalities with modernizing existing traffic signals and (2) $20 million in GO bonds for DEEP to provide matching funds necessary to maximize federal funding for buying or leasing zero- emission school buses.

sSB 428 (File 449), favorably reported by the Education Committee, requires the DAS to administer a reimbursement grant program beginning in FY 23 for the cost of school indoor air quality improvements, including the installation, replacement, or upgrading of heating, ventilation, and air-conditioning systems.

COMMITTEE ACTION Finance, Revenue and Bonding Committee sSB12 / File No.

609 37 sSB12 File No.

609 Joint Favorable Substitute Yea 49 Nay 2 (04/06/2022) sSB12 / File No.

609 38