Connecticut SB 8: AN ACT SUPPORTING GRADUATE STUDENTS IN THE STATE.

Bill Text

LCO 1 of 7

General Assembly Substitute Bill No. 8
February Session, 2026

AN ACT SUPPORTING GRADUATE STUDENTS IN THE STATE.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. (NEW) (Effective July 1, 2026) (a) As used in this section: 1
(1) "Authority loans" has the same meaning as provided in section 2
10a-223 of the general statutes; and 3
(2) "Eligible graduate program" means an advanced academic or 4
professional degree program, as designated by the Connecticut Higher 5
Education Supplemental Loan Authority, that requires completion of a 6
bachelor's degree as a prerequisite to enrollment. 7
(b) On and after July 1, 2026, the Connecticut Higher Education 8
Supplemental Loan Authority shall establish, subject to available 9
funding pursuant to subsection (d) of this section, a Supplemental 10
Graduate Student Loan Program for the purpose of providing authority 11
loans to any student enrolled in an eligible graduate program who 12
meets the eligibility criteria established by the authority. 13
(c) The Connecticut Higher Education Supplemental Loan Authority 14
shall establish the eligibility criteria and administrative guidelines for 15
the Supplemental Graduate Student Loan Program in accordance with 16
the written procedures adopted pursuant to subdivision (6) of 17

Substitute Bill No. 8

LCO 2 of 7

subsection (f) of section 10a-224 of the general statutes. 18
(d) The Connecticut Higher Education Supplemental Loan Authority 19
shall maintain a separate, nonlapsing account to hold funds for the 20
Supplemental Graduate Student Loan Program. The account shall 21
contain any moneys required by law to be deposited in the account, 22
including, but not limited to, any state appropriation or the proceeds 23
from the sale of bonds issued for the purpose of the program. Moneys 24
in the account shall be used for (1) reasonable and necessary expenses 25
for the administration of the Supplemental Graduate Student Loan 26
Program, and (2) the issuance of authority loans for said program. 27
Sec. 2. (Effective July 1, 2026) (a) For the purposes described in 28
subsection (b) of this section, the State Bond Commission shall have the 29
power from time to time to authorize the issuance of bonds of the state 30
in one or more series and in principal amounts not exceeding in the 31
aggregate thirty million dollars, provided twenty million dollars of said 32
authorization shall be effective July 1, 2027. 33
(b) The proceeds of the sale of such bonds, to the extent of the amount 34
stated in subsection (a) of this section, shall be used by the Connecticut 35
Higher Education Supplemental Loan Authority for the purpose of the 36
Supplemental Graduate Student Loan Program established pursuant to 37
section 1 of this act. 38
(c) All provisions of section 3-20 of the general statutes, or the exercise 39
of any right or power granted thereby, that are not inconsistent with the 40
provisions of this section are hereby adopted and shall apply to all 41
bonds authorized by the State Bond Commission pursuant to this 42
section. Temporary notes in anticipation of the money to be derived 43
from the sale of any such bonds so authorized may be issued in 44
accordance with section 3-20 of the general statutes and from time to 45
time renewed. Such bonds shall mature at such time or times not 46
exceeding twenty years from their respective dates as may be provided 47
in or pursuant to the resolution or resolutions of the State Bond 48
Commission authorizing such bonds. None of such bonds shall be 49

Substitute Bill No. 8

LCO 3 of 7

authorized except upon a finding by the State Bond Commission that 50
there has been filed with it a request for such authorization that is signed 51
by or on behalf of the Secretary of the Office of Policy and Management 52
and states such terms and conditions as said commission, in its 53
discretion, may require. Such bonds issued pursuant to this section shall 54
be general obligations of the state and the full faith and credit of the state 55
of Connecticut are pledged for the payment of the principal of and 56
interest on such bonds as the same become due, and accordingly and as 57
part of the contract of the state with the holders of such bonds, 58
appropriation of all amounts necessary for punctual payment of such 59
principal and interest is hereby made, and the State Treasurer shall pay 60
such principal and interest as the same become due. 61
Sec. 3. Subdivision (2) of subsection (a) of section 32-141 of the general 62
statutes is repealed and the following is substituted in lieu thereof 63
(Effective July 1, 2026): 64
(2) The total amount of private activity bonds which may be issued 65
by state issuers in the calendar year commencing January 1, 2007, and 66
each calendar year thereafter, under the state ceiling in effect for each 67
such year, shall be allocated as follows: (A) Sixty per cent to the 68
Connecticut Housing Finance Authority;