ConnecticutState bond commission may fund Mystic area projects
Starting July 1, 2026, the State Bond Commission may authorize up to $8 million in bonds for economic development in Groton and Stonington, if it receives a required request.
What it does
The law allows the State Bond Commission to authorize up to $8 million in bonds for economic development in Groton and Stonington, after a required request is filed.
Argument forIf the commission approves bonds, the money could support better docks, parking garages, and riverwalks or a shuttle boat service in Groton and Stonington.
Argument againstState taxpayers could face debt payments for up to 20 years because Connecticut backs the bonds and pledges money to repay them.
More detail
The State Bond Commission may authorize up to $8 million in state bonds for the Department of Economic and Community Development. The money may support general economic development in Groton and Stonington, including docks, parking garages, a shuttle boat service, and riverwalks. The commission may authorize bonds only after finding it received a request signed by or for the Secretary of the Office of Policy and Management, with any terms the commission requires. This provision takes effect July 1, 2026. Bonds may mature no more than 20 years after their issue dates.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 2SIGNED BY Governor Ned LamontBecame Law
- May 29TRANSMITTED BY SECRETARY OF THE STATE TO GOVERNORTo Governor
- May 29TRANSMITTED TO SECRETARY OF THE STATE
- May 20SPECIAL ACT 26-30
- May 6ON CONSENT CALENDAR /IN CONCURRENCE
- Vote recorded Senate Roll Call Vote 399. Result: pass.Upper
- May 6SEN. PASSED, HO. AMEND. SCH. APassed Senate
- May 6SEN. ADOPTED HO. AMEND. SCH. AMajor
- Apr 28FILE NO. 730
- Apr 28SENATE CALENDAR NUMBER 473
- Apr 28FAV. RPT., TAB. FOR CAL., SEN.Minor
- Apr 27IMMEDIATE TRANSMITTAL TO THE SENATE
- Vote recorded House Roll Call Vote. Result: pass.Lower
- Vote recorded House Roll Call Vote 107. Result: pass.Lower
- Apr 27HOUSE PASSED, HOUSE AMEND. SCH. APassed House
- Apr 27HOUSE ADOPTED HOUSE AMEND. SCH. AMajor
- Apr 1FILE NO. 314
- Apr 1HOUSE CALENDAR NUMBER 233
- Apr 1FAV. RPT., TABLED FOR HOUSE CALENDARMinor
- Apr 1RPTD. OUT OF LCO
- Mar 26REFERRED TO Office of Legislative Research AND Office of Fiscal Analysis 03/31/26Minor
- Mar 17FILED WITH LCOMinor
- Mar 17Joint Favorable SubstituteMinor
- Feb 20PUBLIC HEARING 0224
- Feb 19REF. TO JOINT COMM. ON CommerceIntroduced
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