CT SB00029

Establishes the Connecticut Higher Education Supplemental Loan Authority as a subsidiary of the Connecticut Health and Educational Facilities Authority, effective July 1, 2012, with powers to issue bonds and provide education loans to students and parents.

Expands the definition of "institution for higher education" under the authority to include any constituent unit as defined in section 10a-1, rather than limiting it to Connecticut State University.

Creates a 9-member board of directors for the subsidiary authority consisting of ex-officio members (State Treasurer, Secretary of Office of Policy and Management, President of Board of Regents for Higher Education) and four appointed members from the Connecticut Health and Educational Facilities Authority board, with staggered terms and political party balance requirements.

Grants the subsidiary authority tax exemptions, quasi-public agency status, and ability to issue bonds and pledge revenues for education loan financing, with liability limited solely to the subsidiary's own assets and resources without recourse to the parent authority.

Allows the Connecticut Health and Educational Facilities Authority to provide administrative services, space, equipment, supplies, and employees to support the subsidiary authority's operations and receive reimbursement for costs incurred.