SB 876 - State Bond Authorization Summary

• Authorizes the State Bond Commission to issue $204.45 million in general obligation bonds (effective July 1, 2019) for capital improvements across state agencies, including infrastructure, technology, and building renovations.

• Allocates funds for information technology capital investments ($95 million), State Capitol restoration and repairs ($16.7 million), asbestos removal ($10 million), and improvements to Connecticut State Colleges and Universities ($32 million for deferred maintenance and equipment).

• Authorizes $125 million in housing bonds (effective July 1, 2019) for residential development, rehabilitation, and housing for homeless and low-income persons, with prioritization for areas with low homeownership rates.

• Authorizes $213 million in grants-in-aid bonds (effective July 1, 2019) for municipalities, nonprofits, and school districts covering brownfield remediation, library improvements, water systems, and educational facility upgrades.

• Authorizes $776.6 million in special tax obligation bonds for Department of Transportation projects including highway improvements, bridge repairs, and public transit facilities, with a $750 million annual issuance cap for fiscal years 2019-2020.