CT HB05243

Authorizes the State Bond Commission to issue up to $8 million in state bonds for economic development in the greater Mystic area (towns of Groton and Stonington)

Funds administered by the Department of Economic and Community Development may be used for docks, piers, and breakwaters; parking garage construction or renovation; shuttle boat service; and riverwalk improvements

Bonds are general obligations of the state backed by Connecticut's full faith and credit, with a maximum maturity of 20 years

Authorization requires a request signed by the Secretary of the Office of Policy and Management with terms approved by the State Bond Commission

Effective July 1, 2026