SB 927 Summary

• Creates an Environmental Infrastructure Fund within the Connecticut Green Bank to finance projects related to water, waste and recycling, zero-emission vehicle refueling, climate adaptation and resiliency, agriculture, land conservation, parks and recreation, and other environmental markets.

• Authorizes the Connecticut Green Bank to provide low-cost financing, credit enhancement mechanisms, grants, and direct or equity investments for environmental infrastructure projects, with funding from federal sources, charitable contributions, and earnings from financing activities.

• Prohibits ratepayer funds and Regional Greenhouse Gas Initiative funds from being deposited into the Environmental Infrastructure Fund.

• Requires the Connecticut Green Bank to develop standards for loans and financing support, maintain annual audits of both the Clean Energy Fund and Environmental Infrastructure Fund, and issue annual reports to the Department of Energy and Environmental Protection.

• Effective dates: October 1, 2019 for Section 1 (fund creation) and January 1, 2020 for Section 2 (reporting requirements).