CT HB05396

State Treasurer shall establish a program to invest up to $100 million in community banks and community credit unions, sourced from the state's operating cash.

State Treasurer shall develop a schedule for making these investments and establish a competitive bidding procedure for banks and credit unions to compete for investment-related services.

State Treasurer shall establish capital standards that banks and credit unions must meet to participate in the program.

State Treasurer shall adopt regulations in accordance with state law to implement the investment program.

All provisions take effect October 1, 2010.