CT HB05539

Increases state bond authorization from $1.359 billion to $1.360 billion for community development and urban revitalization projects, with $51 million effective July 1, 2014.

Adds $1 million in grants-in-aid to municipalities for a pilot program providing loans to property owners for housing revitalization in distressed municipalities.

Establishes a housing revitalization program for fiscal years 2015-2017 in distressed municipalities and community development block grant-eligible municipalities, providing loans for home repairs including siding, windows, furnaces, and roofs.

Requires municipalities to target loans to homeowners in census tracts with 25% or more individuals below poverty level, with repayment through special assessment on the property.

Mandates the Secretary of the Office of Policy and Management report on program status by February 1, 2017 to relevant legislative committees.