CT SB01362

Authorizes the State Bond Commission to issue state bonds (amount unspecified in bill text) to fund a one-year pilot program administered by the Department of Housing, effective July 1, 2025

Finances construction projects that simultaneously create employment opportunities in the construction industry and develop affordable housing

Requires project sponsors to secure coinvestment from union pension funds with demonstrated records of successful affordable housing construction investment

Mandates project labor agreements and workforce training commitments adhering to state-registered apprenticeship standards and apprenticeship readiness programs

Requires all housing built through the program to remain permanently affordable via restrictive covenants, with a report due to the legislature within six months of program completion