Bill > HB06313

This bill authorizes the State Bond Commission to issue up to $50 million in state bonds to support affordable housing development. The bonds will be issued according to existing state financial procedures (specifically section 3-20 of the general statutes), and the funds will be used by the Department of Housing to provide grants to nonprofit organizations and municipal housing authorities. These grants are specifically intended to help these organizations develop affordable housing developments, which typically means housing units that are priced to be accessible to lower-income residents or families who might struggle to find suitable housing in the private market. By providing this funding mechanism, the bill aims to increase the availability of affordable housing options in the state, addressing a critical need for housing accessibility for lower-income communities.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB06313&which_year=2025