Colleges protect grant aid and direct private scholarships to unmet costs

A participating public college may not reduce a student's financial aid because the student received a private scholarship. This applies at public colleges that participate in the Roberta B. Willis Scholarship program. The student must receive a federal Pell grant or a Roberta B. Willis Scholarship grant. A college may reduce aid if the student's total aid meets or exceeds the cost of attendance, or if needed to meet an athletic association's or conference's aid limits. If total aid is below the cost of attendance, the college must apply the private scholarship first to unmet need, then to reduce student loans in the aid package. This provision takes effect July 1, 2026.

The Connecticut Small Business Boost program includes at least one Connecticut opportunity fund that provides loans to eligible small businesses. The program serves Connecticut small businesses with no more than 100 employees that operate in the state and are in good standing with state and local taxes and state agencies. Applicants must meet at least one eligibility test, such as operating or living in a concentrated poverty census tract, meeting the stated income limit, or being a first-time business owner or lacking access to traditional commercial lending. The commissioner must prioritize applicants in the order listed in the law. Loans may be $10,000 to $500,000, with a maximum 4% repayment rate and a term of no more than ten years. These program provisions take effect July 1, 2026. The department's stated goal is for the program to be self-funded by July 1, 2028.

A state agency may not award more than $25 million in financial assistance to an applicant or for a business project during any two-year period unless an act of the General Assembly specifically authorizes it. An applicant does not include a state political subdivision. The limit combines awards from one or more agencies. It does not apply to awards funded by bonds the State Bond Commission authorized before July 1, 1994. This provision takes effect July 1, 2026, and applies to income and tax years beginning on or after January 1, 2026.