Bill > SB00230

This bill requires certain municipalities to establish community investment boards (CIBs) that will have two primary functions: identifying priorities for municipal revenue sharing grants and selecting grants for payment in lieu of taxes (PILOT), which are payments made by tax-exempt organizations to local governments to help offset lost property tax revenue. Additionally, the bill instructs the Office of Policy and Management (OPM) to solicit and accept proposals addressing urban area challenges, with the goal of creating pilot programs to implement innovative solutions. The legislation also calls for the creation of a task force dedicated to studying issues related to nonprofit providers, which could include examining their financial sustainability, community impact, and interactions with local government. By establishing these CIBs and the task force, the bill aims to enhance local community decision-making, promote more targeted urban development strategies, and provide a structured approach to understanding and supporting nonprofit organizations in municipal contexts.

Housing and Urban Affairs

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00230&which_year=2025