HB 6354 Summary

• Amends section 7-576j of the general statutes to reduce annual state aid to municipalities with debt service assistance agreements by the amount of debt service the state pays on their behalf each year

• Permits the General Assembly to approve an aggregate level of state aid provided to tier III and IV municipalities based on recommendations from the Municipal Accountability Review Board

• Requires approval from the joint standing committees of the General Assembly with cognizance over appropriations and finance before the Secretary of the Office of Policy and Management and State Treasurer can enter into debt service assistance agreements with tier III or IV municipalities

• Implements provisions of Public Act 18-157