Connecticut Infrastructure Bank Bill Summary

• Creates the Connecticut Infrastructure Bank as a public body within the Connecticut Green Bank to develop programs financing infrastructure improvements including roads, bridges, transit systems, airports, ports, and energy/telecommunications networks.

• Establishes an Infrastructure Improvement Fund that can receive state appropriations and federal funds to provide low-cost financing, credit enhancements, grants, and equity investments for infrastructure projects.

• Board consists of 11 voting and 1 nonvoting member appointed by state officials and legislative leaders, with requirements for expertise in finance, development, investment management, environmental organizations, labor, and business development.

• Authorizes the bank to issue bonds up to $100 million secured by special capital reserve funds, with State Treasurer approval required for bonds backed by state-guaranteed capital reserves.

• Designates the Connecticut Infrastructure Bank as a quasi-public agency subject to annual reporting requirements and audits, effective October 1, 2019.