CT SB01104

Establishes community development corporations in distressed municipalities to provide programs supporting early childhood education, school achievement, community asset rebuilding, homeownership, employment training, and transportation services.

Creates community development credit unions partnered with corporations to offer affordable financial services and products to low-income and moderate-income residents in designated community impact zones.

Establishes a Community Development Corporation Trust Fund funded by a 20% state excise tax on cannabis and cannabis products sales, with 100% of revenues deposited into the fund.

Creates an oversight council consisting of the Treasurer, Commissioner of Economic and Community Development, executive director of the Commission on Women, Children, Seniors, Equity and Opportunity, and four Governor-appointed members to designate and oversee corporations, credit unions, and community impact zones.

Imposes a 3% local cannabis sales tax on municipalities where cannabis retailers operate, with unallocated revenues transferred to the Community Development Corporation Trust Fund.