CT HB07160

Banking Commissioner, in consultation with Connecticut Housing Finance Authority, shall conduct a study on using $2 million from the Banking Fund to create a guarantee fund for private construction loans to property owners with pyrrhotite-affected foundations

Study must examine the feasibility of promoting private construction loans to real property owners dealing with crumbling foundations caused by pyrrhotite

Banking Commissioner must report study results to the joint standing committee on banking no later than July 1, 2018

Act takes effect upon passage