HB 5569 Summary

• Establishes the Connecticut State-Wide Port Authority as a public instrumentality and political subdivision effective July 1, 2013, with a 15-member board including four ex officio state commissioners, eight appointed members from legislative and municipal leadership, and four members appointed by the Governor.

• Grants the authority broad powers to coordinate port development, secure federal and state funding for infrastructure improvements, market Connecticut ports, and develop capital projects and strategic initiatives for port operations.

• Authorizes the authority to issue revenue bonds, bond anticipation notes, and other obligations to finance port projects, with bonds payable solely from pledged revenues and not constituting state debt or obligating state taxation.

• Requires the authority to adopt written procedures for budgeting, hiring, property acquisition, professional services contracting, bond issuance, and loan/grant programs, subject to board approval for expenditures exceeding five thousand dollars.

• Designates the Connecticut State-Wide Port Authority as a quasi-public agency under state law, subjecting it to governance requirements including annual reporting to the Governor and General Assembly, independent audits, and State Treasurer approval for certain financial transactions.