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CT SB00959
Bill
Status
2/28/2019
Primary Sponsor
Energy and Technology Committee
Click for details
AI Summary
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Connecticut Green Bank may seek qualification as a Community Development Financial Institution under Section 4702 of the United States Code, which would qualify it as a community development entity for federal tax credit purposes under Internal Revenue Code Sections 45D and 1400N(m).
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Connecticut Green Bank and its subsidiaries may seek to qualify as eligible borrowers for federal funding, including funding from the United States Department of Agriculture pursuant to 7 CFR 1720.
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Board of directors composition reduces nonvoting members from two to one, maintaining eleven voting members with expertise in renewable energy, finance, environmental protection, labor, and community development.
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Board appointment authority is distributed among the Governor, House Speaker, House Minority Leader, Senate President Pro Tempore, and Senate Minority Leader, with the Governor appointing the board chairperson.
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Section 1 takes effect upon passage; Section 2 takes effect October 1, 2019.
Legislative Description
An Act Concerning The Connecticut Green Bank's Eligibility As A Borrower For Federal Programs And Members Of The Connecticut Green Bank's Board Of Directors.
Last Action
File Number 169
3/26/2019