CT SB00455

University of Connecticut and Connecticut State University System shall establish a program to issue investment instruments that pay returns to investors if specified performance metrics are achieved.

Performance metrics may include expansions in student enrollment, curriculum offerings, or infrastructure that drive economic indicators such as gross state product, employment, wages, business startups, technology transfer, patents, and workforce development in targeted industries including health care, bioscience, manufacturing, digital technology, and insurance.

Investment instruments provide no return to investors if specified metrics are not achieved.

State Treasurer shall issue the investment instruments upon agreement with the universities and make them available to investors.

Universities must submit reports by December 31, 2024, and annually thereafter to the joint standing committee on finance, revenue and bonding detailing program status, issued instruments, specified metrics, and return rates.