SB 980 Summary

• Authorizes $645.29 million in general obligation bonds (effective July 1, 2023) and $463.85 million (effective July 1, 2024) for state infrastructure projects including Capitol restoration, university improvements, transportation, education, and environmental initiatives.

• Establishes a $1.65 billion bond program (effective 2023-2032) to fund projects in high poverty-low opportunity census tracts (30%+ poverty rate) for mixed-income housing, workforce development, education, infrastructure, and gun violence prevention.

• Provides personal income tax exemption for qualifying residents (earning up to $125,000/$200,000) who have lived in high poverty-low opportunity census tracts for at least two years; exemption phases out over five years once poverty rates improve.

• Creates a municipal grant program awarding $3 million per year for three years to municipalities with qualifying census tracts that apply for projects to reduce poverty and increase opportunity.

• Requires quarterly reporting by Department of Administrative Services on Office of Chief Medical Examiner and Bridgeport Community Mental Health Center projects through completion.