CT HB05496

Repeals and replaces subsection (e) of section 32-601 to prohibit board members from having financial interests in capital city projects, authority projects within the capital region, or related contracts, with an exception for private investments when board members recuse themselves.

Allows corporations or business entities to make private investments in authority projects despite a board member being an officer, director, or shareholder of that entity, provided the board member recuses themselves from any board consideration or action concerning such project.

Adds new subsection (h) to section 32-601 authorizing the authority to solicit private investment funds from corporations and business entities to finance capital city projects or other authority projects within the capital region.

Requires private investments to be provided under terms and conditions equivalent or substantially similar to the authority's own investment terms as determined by the board, though the authority may prioritize private investment.

Effective from passage of the act.