SB 413 Summary

• Establishes bonding authority for the Connecticut Clean Energy Authority to issue negotiable bonds, notes, and other debt obligations for corporate purposes, with bonds payable from authority revenues rather than state funds.

• Authorizes issuance of "clean energy bonds" secured by the Clean Energy Fund without pledging state credit or taxing power, and caps aggregate bonds secured by special capital reserve funds at $100 million.

• Renames the "Clean Energy Finance and Investment Authority" to "Connecticut Clean Energy Authority" and establishes it as an independent public instrumentality within Connecticut Innovations, Incorporated for administrative purposes only.

• Allocates 27.5% of available private activity bonds to the Connecticut Clean Energy Authority alongside municipalities and political subdivisions for clean energy financing projects.

• Expands the definition of "clean energy" to include solar, wind, geothermal, fuel cells, alternative fuels, energy efficiency projects, and electric vehicle infrastructure; requires state approval before issuing bonds with state-contributed capital reserve funds.