Sec. 8-216a. Capitalized value of net rental income, basis for property valuation.
Sec. 8-240b. Bond authorization for retrofitting projects for multifamily residences.
Sec. 8-206j. Bond authorization for grant-in-aid program for supportive housing for persons with an intellectual disability or other developmental disabilities. (a) For the purposes described in subsection (b) of this section, the State Bond Commission shall have the power from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate twenty-five million dollars.
(b) The proceeds of the sale of such bonds, to the extent of the amount stated in subsection (a) of this section, shall be used by the Commissioner of Housing for the grant-in-aid program established pursuant to section 8-206i, for supportive housing for persons with an intellectual disability or other developmental disabilities, including, but not limited to, autism spectrum disorder.
(c) All provisions of section 3-20, or the exercise of any right or power granted thereby, that are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section. Temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with section 3-20 and from time to time renewed. Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds. None of such bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization that is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require. Such bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on such bonds as the same become due, and accordingly and as part of the contract of the state with the holders of such bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due.
(P.A. 23-205, S. 97; P.A. 24-151, S. 27; P.A. 25-174, S. 71.)
History: P.A. 23-205 effective July 1, 2023; this section was originally published as Sec. 17a-250 in the 2024 Supplement to the General Statutes; P.A. 24-151 amended Subsec. (b) to replace Commissioner of Developmental Services with Commissioner of Housing, effective June 6, 2024; P.A. 25-174 amended Subsec. (a) to increase aggregate authorization from $15,000,000 to $25,000,000 and amended Subsec. (b) to replace reference to Sec. 17a-249 with reference to Sec. 8-206i, effective July 1, 2025.
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Sec. 8-216a. Capitalized value of net rental income, basis for property valuation. (a) Notwithstanding any provision of the general statutes or special act, the present true and actual value of any real property used for housing solely for low or moderate-income persons or families, as defined in section 8-202, on which rents or carrying charges are limited by regulatory agreement with, or otherwise regulated by, the federal or state government or any department or agency thereof, shall be based upon and shall not exceed the capitalized value of the net rental income of such real property. For purposes of this section, “net rental income” means the gross income of any real property used for housing solely for low or moderate-income persons or families as limited by the schedule of rents or carrying charges, less reasonable operating expenses and property taxes.
(b) Any modification, amendment or replacement of a contract already in existence on or before October 1, 1973, shall not be subject to the provisions of subsection (a) of this section without the mutual consent of the parties thereto.
(P.A. 73-642, S. 3, 4; P.A. 24-143, S. 9; P.A. 25-133, S. 7.)
History: P.A. 24-143 substantially revised Subsec. (a) to apply net rental income assessment method to all real property used for housing solely for low or moderate-income persons or families; P.A. 25-133 made a technical change in Subsec. (b), effective July 1, 2025.
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Sec. 8-240a. Housing environmental improvement revolving loan and grant fund. Pilot program for retrofitting projects. Report. (a) As used in this section, “low-income resident” means, after adjustments for family size, individuals or families whose income is not greater than (1) sixty per cent of the state median income, (2) eighty per cent of the area median income for the area in which the resident resides, as determined by the United States Department of Housing and Urban Development, or (3) any other definition of “low-income resident” included in any program in the state that utilizes federal funding, as determined by the Commissioner of Energy and Environmental Protection.
(b) There is established a revolving loan and grant fund to be known as the “Housing Environmental Improvement Revolving Loan and Grant Fund”. The fund may be funded from the proceeds of bonds issued pursuant to section 8-240b or from any moneys available to the Commissioner of Energy and Environmental Protection or from other sources. Investment earnings credited to the fund shall become part of the assets of the fund. Any balance remaining in the fund at the end of any fiscal year shall be carried forward in the fund for the next fiscal year. Payments of principal or interest on a low interest loan made pursuant to this section shall be paid to the State Treasurer for deposit in the Housing Environmental Improvement Revolving Loan and Grant Fund. The fund shall be used to make grants or low interest loans pursuant to this section to pay reasonable and necessary fees incurred in administering loans under this section. The Commissioner of Energy and Environmental Protection may enter into contracts with quasi-public agencies, nonprofit corporations, or electric distribution or gas companies, as such terms are defined in section 16-1, to provide for the administration of the Housing Environmental Improvement Revolving Loan and Grant Fund by such entity or entities, provided no grant or low interest loan shall be made from the fund without the authorization of the commissioner as provided in this section.
(c) The Commissioner of Energy and Environmental Protection, in collaboration with the Commissioner of Housing, shall establish a pilot program or programs to provide financing or grants from the fund established in subsection (b) of this section for retrofitting projects for single and multifamily residences that (1) improve the energy efficiency of such residences, which may include, but need not be limited to, the installation of heat pumps, solar power generating systems, improved roofing, exterior doors and windows, improved insulation, air sealing, improved ventilation, appliance upgrades and any electric system or wiring upgrades necessary for such retrofit, (2) remediate health and safety concerns that are barriers to any such retrofit, including, but not limited to, mold, vermiculite, asbestos, lead and radon, (3) add resilience measures to such residences, which may include, but need not be limited to, flood mitigation, (4) provide services to assist residents and building owners to access and implement the programs established pursuant to this section or other available state or federal programs that enable the implementation of energy efficiency retrofitting, or (5) replace heating, ventilation and air conditioning equipment to residences impacted by extreme weather events.
(d) On and after July 1, 2025, the Commissioner of Energy and Environmental Protection, or any program administrator the commissioner may designate, shall accept applications, in a form specified by the commissioner, from any owner of a residential dwelling unit for financing or a grant under the program or programs. Any such financing or grant may be awarded to an owner of a residential dwelling unit, as defined in section 47a-1.
(e) The Commissioner of Energy and Environmental Protection shall limit the awarding of financing or grants to projects that benefit any resident or prospective resident who is a low-income resident.
(f) The Commissioner of Energy and Environmental Protection shall exclude from the program or programs any owner of a residential dwelling unit determined by the Commissioner of Housing to be in violation of chapter 830.
(g) On or before October 1, 2028, the Commissioner of Energy and Environmental Protection shall file a report, in accordance with the provisions of section 11-4a, with the joint standing committee of the General Assembly having cognizance of matters relating to housing (1) analyzing the success of the pilot program or programs, and (2) recommending whether a permanent program should be established in the state and, if so, any proposed legislation for such program.
(h) The pilot program or programs established pursuant to this section shall terminate on September 30, 2029.
(P.A. 23-205, S. 90; P.A. 24-143, S. 19; 24-151, S. 64; P.A. 25-125, S. 15.)
History: P.A. 24-143 amended Subsec. (a)(3) to redefine “low-income resident”, amended Subsec. (b) to replace “Housing Environmental Improvement Revolving Loan Fund” with “Housing Environmental Improvement Revolving Loan and Grant Fund”, replace “expenses” with “fees”, and allow Commissioner of Energy and Environmental Protection to enter into contracts with quasi-public agencies to administer the fund, amended Subsec. (d) to change date to accept applications from July 1, 2024, to July 1, 2025, and replace provision re residential dwelling unit with reference to Sec. 47a-1, amended Subsec. (g) to change report date from October 1, 2027, to October 1, 2028, amended Subsec. (h) to change pilot program terminate date from September 30, 2028, to September 30, 2029, and made technical and conforming changes throughout; P.A. 24-151 made identical changes as P.A. 24-143; P.A. 25-125 amended Subsec. (a) to delete definitions of “alliance district” and “environmental justice community” and make technical changes, amended Subsec. (b) to add reference to electric distribution or gas companies, amended Subsec. (c) to add reference to single family residences, delete references to alliance districts and environmental justice communities, add new Subdiv. (3) re resilience measures for residence, add Subdiv. (5) re replacement of heating, ventilation and air conditioning equipment of certain residences and redesignate existing Subdiv. (3) as Subdiv. (4), and amended Subsec. (e) to change the prioritization of funds and grants to the limiting of the award of such financing or grants to such low-income residents, effective July 1, 2025.
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Sec. 8-240b. Bond authorization for retrofitting projects for multifamily residences. (a) For the purposes described in subsection (b) of this section, the State Bond Commission shall have the power from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate two hundred twenty-five million dollars, provided one hundred million dollars of said authorization shall be effective July 1, 2026.
(b) The proceeds of the sale of such bonds, to the extent of the amount stated in subsection (a) of this section, shall be used by the Department of Energy and Environmental Protection for the purpose of financing and awarding grants for retrofitting projects for multifamily residences as provided in section 8-240a. Not more than twenty million dollars of the bonds issued pursuant to this section shall be utilized by said department for grants for such projects.
(c) All provisions of section 3-20, or the exercise of any right or power granted thereby, that are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section. Temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with section 3-20 and from time to time renewed. Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds. None of such bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization that is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require. Such bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on such bonds as the same become due, and accordingly and as part of the contract of the state with the holders of such bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due.
(P.A. 23-205, S. 91; P.A. 24-151, S. 18; P.A. 25-174, S. 72.)
History: P.A. 23-205 effective July 1, 2023; P.A. 24-151 amended Subsec. (b) to add provision re financing and awarding grants and provide that not more than $20,000,000 be used for grants, effective June 6, 2024; P.A. 25-174 amended Subsec. (a) to increase aggregate authorization from $125,000,000 to $225,000,000, of which $100,000,00 is effective July 1, 2026, effective July 1, 2025.
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