Connecticut SB 3: AN ACT CONCERNING 21ST CENTURY JOBS.

Status: PUBLIC HEARING 0317 (as of 2020-03-12)

State: Connecticut · Session: 2020 · Bill: SB 3

Subjects: MANUFACTURERS AND MANUFACTURING. see also HIGH TECHNOLOGY, Connecticut Employment and Training Commission (CETC), Connecticut Higher Education Supplemental Loan Authority, Connecticut Innovations, Incorporated, Continuing education, Corporation business tax credits, Corporation business tax credits for human capital investments, Corporation business tax credits for research and development expenses, Councils, Economic and Community Development, Department of, Economic development financial assistance, Gubernatorial appointments, Health care centers tax, Income tax credits (State), Inmate labor, Jobs, Labor Department, Reports, Small businesses, Studies, Task forces, Tax incentives, Tourism, Unemployed persons, Utility companies tax, Veterans, Vocational education equipment, Workforce Competitiveness, Office of, Workforce development, Ex-offenders, Technical Education and Career System

Sponsors: Anwar, Saud, Borer, Dorinda, Cassano, Steve, Cohen, Christine, Conley, Christine, Daugherty Abrams, Mary, Duff, Bob, Flexer, Mae, Fonfara, John W., Hartley, Joan V., Haskell, Will, Kushner, Julie, Leone, Carlo, Lesser, Matthew L., Looney, Martin M., Maroney, James J., Mccrory, Douglas, Moore, Marilyn V., Needleman, Norman, Osten, Catherine A., Rochelle, Kara, Slap, Derek, Winfield, Gary A.

Bill Text

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General Assembly Substitute Bill No. 3
February Session, 2026

AN ACT CONCERNING HEALTH CARE AFFORDABILITY.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. (NEW) (Effective July 1, 2026) (a) There is established the 1
Connecticut Affordable Health Care Trust Fund. Said fund may contain 2
any moneys required or permitted by law to be deposited in the fund 3
and shall receive and hold all payments and deposits for contributions 4
intended for said fund, as well as gifts, bequests, endowments or 5
federal, state or local grants and any other funds from any public or 6
private source and all earnings until disbursed in accordance with the 7
provisions of this section. 8
(b) The amounts on deposit in said fund shall not constitute property 9
of the state and said fund shall not be construed to be a department, 10
institution or agency of the state. Amounts on deposit in said fund shall 11
not be commingled with state funds and the state shall have no claim to 12
or against, or any interest in, such deposits. Any contract entered into 13
by or any obligation of said fund shall not constitute a debt or obligation 14
of the state and the state shall have no obligation to any person on 15
account of said fund and all amounts obligated to be paid from said 16
fund shall be limited to amounts available for such obligation on deposit 17
in said fund. Said fund shall continue in existence as long as it holds any 18
deposits or has any obligations and until its existence is terminated by 19
law. 20

Substitute Bill No. 3

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(c) Notwithstanding the provisions of sections 3-13 to 3-13h, 21
inclusive, of the general statutes, the Treasurer shall invest the amounts 22
on deposit in said fund in a manner reasonable and appropriate to 23
achieve the objectives of said fund, exercising the discretion and care of 24
a prudent person in similar circumstances with similar objectives. The 25
Treasurer shall give due consideration to rate of return, risk, term or 26
maturity, diversification of the total portfolio within said fund, liquidity, 27
the projected disbursements and expenditures and the expected 28
payments, deposits, contributions and gifts to be received. The 29
Treasurer shall not require said fund to invest directly in obligations of 30
the state or any political subdivision of the state or in any investment or 31
other endowment administered by the Treasurer. The assets of said 32
fund shall be continuously invested and reinvested in a manner 33
consistent with the objectives of said fund until expended in accordance 34
with the provisions of this section. 35
(d) The Treasurer, on behalf of said fund and for purposes of said 36
fund, may: 37
(1) Receive and invest moneys in said fund in any instruments, 38
obligations, securities or property in accordance with this section; 39
(2) Enter into one or more contractual agreements, including 40
contracts for legal, actuarial, accounting, custodial, advisory, 41
management, administrative, advertising, marketing and consulting 42
services for said fund and pay for such services from the assets of said 43
fund; 44
(3) Procure insurance in connection with said fund's property, assets, 45
activities or deposits to said fund; 46
(4) Apply for and accept gifts, grants or donations from public or 47
private sources to enable said fund to carry out its objectives; 48
(5) Adopt regulations in accordance with chapter 54 of the general 49
statutes for purposes of this section; 50

Substitute Bill No. 3

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(6) Sue and be sued; 51
(7) Establish one or more accounts within said fund; and 52
(8) Take any other action necessary to carry out the purposes of this 53
section and incidental to the duties imposed on the Treasurer pursuant 54
to this section. 55
(e) Amounts on deposit in the Connecticut Affordable Health Care 56
Trust Fund, if any, shall be used to implement the Connecticut Option 57
affordable health care program established pursuant to section 4 of this 58
act. 59
(f) The Treasurer shall ensure that sufficient liquidity exists within 60
the fund to allow for expenditures in each fiscal year. 61
Sec. 2. Section 3-13c of the 2026 supplement to the general statutes is 62
repealed and the following is substituted in lieu thereof (Effective July 1, 63
2026): 64
As used in sections 3-13 to 3-13e, inclusive, and 3-31b, "trust funds" 65
includes the Connecticut Municipal Employees' Retirement Fund A, the 66
Connecticut Municipal Employees' Retirement Fund B, the Soldiers, 67
Sailors and Marines Fund, the Family and Medical Leave Insurance 68
Trust Fund, the State's Attorneys' Retirement Fund, the Teachers' 69
Annuity Fund, the Teachers' Pension Fund, the Teachers' Survivorship 70
and Dependency Fund, the School Fund, the State Employees 71
Retirement Fund, the Hospital Insurance Fund, the Policemen and 72
Firemen Survivor's Benefit Fund, any trust fund described in 73
subdivision (1) of subsection

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