CT SB00458

Extends the maximum maturity date for municipal bonds issued with USDA loans to 40 years from the date of issue, removing previous restrictions on final maturity dates.

Applies to bonds issued by municipalities in conjunction with water, waste, or community facility loans from the United States Department of Agriculture authorized under 7 USC 1926 and successor programs.

Supersedes conflicting provisions in state statutes (sections 7-234, 7-236, 7-263, and 7-371) and any municipal charters, ordinances, or resolutions that impose shorter maturity limits.

References USDA loan programs authorized under 7 USC 1926 as amended, including any successor programs confirmed by the USDA Office of General Counsel, along with applicable regulations.