CT HB05240

Modifies the Community Residential Facility Revolving Loan Fund program administered by the Department of Developmental Services, updating definitions and removing outdated references to facilities operating before July 1, 1985

Caps renovation costs for purchase-and-renovation loans at $100,000 above property acquisition cost, and increases the maximum loan amount for capital repairs and improvements from $40,000 to $100,000

Eliminates the separate "rehabilitation" loan category for existing facilities (previously capped at $60,000), consolidating loan types into construction, purchase/renovation, and capital repairs/improvements

Requires loan applicants to provide an independent appraisal by a state-certified appraiser and a structural survey by a state-licensed engineer

Requires any organization receiving a community residential facility loan to be a licensed or certified provider that owns and operates the facility for the duration of the loan