SB 363 - An Act Concerning Economic Opportunity

• Establishes the Connecticut Infrastructure and Economic Development Bank as a subsidiary of the Connecticut Development Authority to provide financing for municipal, state, nonprofit, and private infrastructure projects effective July 1, 2012.

• Creates an Infrastructure and Economic Development Fund that may receive revenue from real property conveyance taxes and federal funds to support low-cost financing, credit enhancement, grants, and direct investments in infrastructure and economic development projects.

• Authorizes the Infrastructure and Economic Development Bank to issue bonds secured by fund assets and receipts, with bonds not constituting state debt or pledging the state's full faith and credit.

• Allows the Connecticut Development Authority to establish infrastructure and economic development bank subsidiaries with powers to enter into agreements, acquire property, create investment vehicles, and secure borrowing through special obligations payable only from subsidiary assets and revenues.

• Requires the Department of Economic and Community Development to establish a Connecticut Housing and Economic Development Collaborative by October 1, 2012 to coordinate development assistance requests and referrals among local, state, and nonprofit agencies.