Connecticut General Statutes 8-240a – Housing environment improvement revolving loan fund. Pilot program for retrofitting projects for multifamily residences located in environmental justice communities or alliance districts. Report
(a) As used in this section:
Terms Used In Connecticut General Statutes 8-240a
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(1) “Alliance district” has the same meaning as provided in section 10-262u;
(2) “Environmental justice community” has the same meaning as provided in section 22a-20a; and
(3) “Low-income resident” means, after adjustments for family size, individuals or families whose income is not greater than (A) sixty per cent of the state median income, or (B) 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.
(b) There is established a revolving loan fund to be known as the “Housing Environmental Improvement Revolving Loan 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 Fund. The fund shall be used to make low interest loans pursuant to this section and to pay reasonable and necessary expenses incurred in administering loans under this section. The Commissioner of Energy and Environmental Protection may enter into contracts with nonprofit corporations to provide for the administration of the Housing Environmental Improvement Revolving Loan Fund by such nonprofit corporations, provided no 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 from the fund established in subsection (b) of this section for retrofitting projects for multifamily residences located in environmental justice communities or alliance districts 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, or (3) 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.
(d) On and after July 1, 2024, 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 under the program or programs. Any such financing may be awarded to an owner of a residential dwelling unit that is (1) not owner-occupied, and (2) occupied by a tenant or, if vacant, to be occupied by a tenant not more than one hundred eighty days after the award. If such dwelling unit is not occupied within one hundred eighty days of the award, the owner shall return any funds received by the owner to the commissioner.
(e) The Commissioner of Energy and Environmental Protection shall prioritize the awarding of financing for 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 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, 2027, 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, 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 established pursuant to this section shall terminate on September 30, 2028.