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Read. Follow. Verify.Connecticut authorizes State Treasurer to set investment service rates and replace competitive bidding for community bank program
Last action · March 23, 2026: File Number 120Sponsors: Antonio Felipe and 2 others
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What This Bill Proposed
The State Treasurer is newly authorized to accept investment-related service rates up to one hundred below the previous day's comparative U.S. Treasury security yield, replacing the requirement for a competitive bidding process under the community bank and credit union investment program.
Changes how financial institutions qualify and price services for a state-managed investment pool of up to three hundred million dollars, shifting from competitive bidding to an application-based procedure with set rate parameters.
- The Community Bank and Community Credit Union investment program was established to support local financial institutions that provide loans and banking services in underserved markets across Connecticut. context
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
community banks
Participating community banks apply for investment-related services through a new application procedure rather than competitive bidding.
community credit unions
Participating credit unions apply for investment-related services through a new application procedure rather than competitive bidding.
State Treasurer
The State Treasurer is authorized to establish an application procedure and accept specific rate thresholds for investment-related services.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
How does the State Treasurer select banks and credit unions for investment-related services under the new bill?
What is the maximum amount of funds the State Treasurer can make available for the investment program?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · on the Senate floor.
Procedural history
9 actions- Mar 23, 2026Connecticut General AssemblyFile Number 120
- Mar 23, 2026SenateSenate Calendar Number 93
- Mar 23, 2026SenateFavorable Report, Tabled for the Calendar, Senate
- Mar 23, 2026Connecticut General AssemblyReported Out of Legislative Commissioners' Office
- Mar 16, 2026Connecticut General AssemblyReferred to Office of Legislative Research and Office of Fiscal Analysis 03/23/26 12:00 PM
- Mar 10, 2026Connecticut General AssemblyFiled with Legislative Commissioners' Office
Show 3 earlier actions
- Mar 10, 2026Connecticut General AssemblyJoint Favorable
- Feb 19, 2026Connecticut General AssemblyPublic Hearing 02/24
- Feb 18, 2026Connecticut General AssemblyCommitteeReferred to Joint Committee on Banking
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Shift from Competitive Bidding to Application Process
The legislation removes the statutory requirement for competitive bidding in selecting providers for investment-related services under the community bank program.
Connected Entities
Sources
cga.ct.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 50)
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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