CT HB06851

Establishes the Connecticut Transit Corridor Development Authority as a public instrumentality to stimulate investment and transit-oriented development within half-mile radius districts around passenger railroad stations and Hartford-New Britain busway stations.

Creates an 11-member board of directors appointed by the Governor, legislative leaders, and state agency heads (Secretary of OPM, Commissioners of Transportation, Housing, and Economic and Community Development), with municipal officials and regional council representatives serving as ad hoc voting or non-voting members for projects in their areas.

Authorizes the authority to acquire and manage properties, enter into contracts, develop facilities, charge fees and rents, procure professional services, and issue bonds and notes not constituting state debt to finance transit corridor development projects.

Requires the authority to review and recommend on all state funding requests for authority development projects within 90 days and coordinate use of state, municipal, and quasi-public agency planning and financial resources.

Makes the Connecticut Transit Corridor Development Authority a quasi-public agency subject to reporting requirements including annual financial audits, compliance audits, and economic development statements, with all provisions effective October 1, 2015.