CT SB00150

Establishes the Connecticut Infrastructure Authority as a quasi-public agency effective July 1, 2021, with a 12-member voting board of directors plus a nonvoting president, to finance and support infrastructure improvement projects including roads, bridges, railways, ports, water systems, and green technology facilities

Creates an Infrastructure Improvement Fund with highway, rural projects, and municipal accounts to receive federal funds under 23 USC 610 and provide loans up to 100% of project costs (80% for rural projects), with repayment required within 30 years at or below market interest rates

Authorizes the Authority to issue bonds, enter public-private partnerships, and make loans or provide credit assistance to municipalities, transit districts, and private entities for infrastructure projects that generate revenue or stimulate economic growth

Requires the board to initiate discussions with the U.S. Department of Transportation by January 1, 2022 to enter a cooperative agreement for capitalization, and submit annual status reports to federal and state legislative committees by September 30, 2022

Limits administrative expenses to 2% of federal funds received and requires annual audits; municipalities may apply to undertake infrastructure projects on state-owned land with Department of Transportation approval within 30 days