CT HB05370

Increases grant percentage range for municipal bridge projects from 10-33% to 15-50%, based on each municipality's adjusted equalized net grand list per capita ranking.

Changes project loan cap from 50% of project costs to project costs less any state or federal grant money received by the municipality.

Modifies interest rate provision for project loans from a fixed 6% rate to a rate determined under section 3-20 of general statutes, capped at 6% per annum.

Exempts project loan agreements and grants from public works contract requirements and prevailing wage laws (chapters 58 and 814c).

Authorizes the State Bond Commission to issue $15 million in bonds for deposit into the Local Bridge Revolving Fund to finance local bridge removal, replacement, rehabilitation, and reconstruction projects.