CT SB00366

Establishes the Connecticut Green Bank as an independent public instrumentality and political subdivision separate from Connecticut Innovations, Incorporated, with authority to develop financing programs for residential, municipal, small business, and commercial clean energy projects.

Grants the Connecticut Green Bank broad powers including forming subsidiaries, issuing bonds, making loans and grants, employing staff exempt from civil service, entering joint ventures, and investing in clean energy projects with financing up to 80% of project costs (or 100% for energy efficiency).

Restructures the Connecticut Green Bank board of directors to consist of 11 voting and 2 nonvoting members, including three ex-officio members (Treasurer, DEEP Commissioner, DECD Commissioner), members appointed by legislative leaders and the Governor, with conflict-of-interest provisions prohibiting board members from having financial interests in entities receiving bank support.

Modifies the benefit assessment lien under the Commercial Sustainable Energy Program to require written consent from existing mortgage holders for the lien to take precedence over mortgages, while maintaining priority over all other liens except municipal property tax liens.

Revises the Solar Home Renewable Energy Credit Program to remove the 20-kilowatt size limitation on qualifying residential solar systems, extend the program deadline to December 31, 2022 or 300 megawatts deployment, and establish an annual purchasing obligation for electric distribution companies to buy 15-year tranches of solar home renewable energy credits through master purchase agreements.