CT HB05500

Establishes the Connecticut Infrastructure Bank as a public instrumentality and political subdivision to finance infrastructure projects including highways, bridges, transit systems, water treatment facilities, airports, and telecommunications.

Creates a 14-member board of directors consisting of three ex-officio members (Commissioners of Transportation and Economic Development, and State Treasurer), seven legislative appointees (one each from House and Senate leadership), and five gubernatorial appointees serving two to four-year terms.

Authorizes the bank to issue bonds, borrow money, make loans, provide credit enhancements, acquire property, and enter into contracts necessary to support infrastructure investments across the state.

Establishes the Connecticut Infrastructure Bank Fund and appropriates $50 million from the General Fund for fiscal year 2018-2019 to support low-cost financing, operating expenses, and capital costs related to infrastructure projects.

Designates the Connecticut Infrastructure Bank as a quasi-public agency subject to state oversight procedures and requires approval from the State Treasurer before issuing state-guaranteed bonds or notes.