Connecticut’s State Bond Commission, chaired by Gov. Ned Lamont, on May 29 approved spending $652,674,141 for a variety of programs that cover areas such as early childhood education, housing, technology, public safety, and infrastructure. The State Bond Commission is a ten-member body that is empowered under the Connecticut General Statutes to allocate bond funds to finance specific projects and purposes. The State Bond Commission is made up of the governor, three state constitutional officers, four state legislators and two state agency heads.
“We continue making long-term commitments to Connecticut’s future, including major support for early childhood and K-12 education, housing, public safety, environmental protection, and modernizing state government,” Lamont said. “These actions will strengthen our communities, support families and businesses, and help make Connecticut more affordable and competitive.”
The Bond Commission approved $16.5 million for capital improvements at childcare facilities across Connecticut, helping providers expand and improve safe, high-quality spaces for children and families. Also approved was the Office of Early Childhood’s new One Entry Portal , which is designed to streamline the child care process for families by allowing them to search, apply, and register for child care programs in one place. The portal will also help providers market available spaces and manage applications more efficiently.
The commission also approved the new MyCHESLA Grad Loan, a Connecticut-based financing option designed to help fill the gap created by the federal government’s phase-out of the Grad PLUS loan program. The program is expected to support approximately 1,200 Connecticut graduate students in its first year by offering a lower-cost alternative to private loans. Fixed interest rates will range from 5.50% to 7.99%, significantly below the current federal Grad PLUS rate of 8.94%, which is scheduled to increase to 9.07% on July 1.
Nearly $60 million was approved to modernize information technology infrastructure across state government through the IT Capital Investment Program. This would include development of a State of Connecticut digital wallet enabling residents to securely store federally accepted mobile IDs that meet REAL ID and security requirements. The state’s goal is to roll out this technology by the end of the summer.
The Bond Commission approved $5 million for nonprofit security grants administered through the Department of Emergency Services and Public Protection. These grants will allow places of worship and other nonprofits to fortify security measures.
Also approved $6 million to support a program for wrong-way driver detection and prevention technology administered by the Department of Transportation. This technology has already successfully alerted and diverted 900 drivers since 2023 following 23 fatalities linked to 13 wrong-way crashes in 2022.
The commission approved $5 million for farmland preservation initiatives that protect Connecticut’s agricultural economy, preserve community character, and safeguard natural resources. An additional $15 million was approved for recreational trails statewide.
The Bond Commission approved the first bonding allocation for the Connecticut Municipal Development Authority, including $10 million to support the development of more than 150 new housing units near transit stations and in downtowns across the state. The commission also approved an additional $10 million for the Time to Own program, helping first-time homebuyers with down payment assistance and making homeownership more attainable for Connecticut residents.
