CT SB01255

Expands the definition of "community bank" to include both Connecticut-chartered banks and out-of-state banks as defined in section 36a-2, replacing the previous limitation to only state-chartered institutions

Simplifies the definition of "community credit union" by referencing Connecticut credit unions and federal credit unions as defined in section 36a-2, rather than listing specific organizational requirements

Effective date of July 1, 2025 for all changes to the Community Bank and Community Credit Union Investment Program

Amends Section 3-24j of the general statutes governing the State Treasurer's investment program in community financial institutions