HB 6627 Summary

• Authorizes the State Bond Commission to issue state bonds in one or more series with an aggregate principal amount not exceeding $100 million, effective July 1, 2021.

• Bond proceeds shall be used by the Department of Housing for the bond-financed state housing program as defined in section 8-37qq of the general statutes.

• Bonds shall mature within twenty years from their respective dates and may be authorized only upon a finding by the State Bond Commission that a request signed by the Secretary of the Office of Policy and Management has been filed.

• Bonds issued under this section are general obligations of the state with full faith and credit pledged for payment of principal and interest, with all necessary appropriations automatically made and the State Treasurer authorized to pay amounts as due.