Sen. Eric Berthel

Maddy summaryHB 5314 updates Connecticut's "Homes for CT" loan program to set a clear interest rate cap: loans from participating financial institutions must charge a rate not exceeding The Wall Street Journal's published prime rate (replacing a previous Federal Home Loan Bank reference). It also expands the Connecticut Housing Finance Authority's role, allowing it to provide additional loans or forgivable grants-in-aid to eligible borrowers beyond those from banks, with these new loans being subordinate to bank loans. The changes directly affect Connecticut homebuyers (particularly first-time buyers) who qualify for the program through participating lenders. The bill takes effect July 1, 2026, and aims to streamline program administration while maintaining affordability.

Maddy summaryHB 5325 restricts school seclusion to emergency situations only (to prevent immediate injury), banning its use for discipline, convenience, or as a planned intervention in student plans. It requires constant monitoring, cameras, and clear visibility (via windows) in all seclusion rooms. The bill also mandates annual reports on special education spending and updates contract rules for private service providers. These changes directly affect students in special education, school staff, and private providers offering these services.

Maddy summarySB 308 requires all local and regional school boards to post their approved curriculum online by July 1, 2026. Specifically, boards must make available the objectives and scope/sequence of all approved curriculum on their public websites each school year. This applies to every school district in the state and directly affects parents, students, and educators seeking transparency about course content. The law amends existing statute to mandate this annual online posting, building on existing requirements for curriculum materials under federal law.

Maddy summaryHB 5316 prohibits real estate investment trusts (REITs) from acquiring or increasing operational control over hospitals or health systems, and bans hospitals/health systems from entering into sale-leaseback transactions involving their main hospital campus property. "Operational control" is defined as influencing daily operations or appointing key leadership, while a "sale-leaseback" involves selling and leasing back the main campus. The law takes effect October 1, 2026, directly affecting REITs and hospitals/health systems that might engage in these transactions. It targets specific real estate financing practices without altering hospital ownership or care standards.

Maddy summaryHB 5318 requires Connecticut banking institutions to offer standard banking accounts specifically for candidate committees (used by local election candidates) starting October 1, 2026. These accounts must include basic features like debit cards, ATM access, check cashing, deposits, and monthly electronic statements. Banks must accept a candidate committee’s registration form from the State Elections Enforcement Commission plus a federal employer identification number (EIN) to open such an account. The Banking Commissioner will credit banks that comply when evaluating their performance under existing law. This bill directly affects candidate committees and their banking relationships, with no additional features like rewards programs required.

Maddy summaryHB 5210 establishes new data security requirements for financial institutions operating in Connecticut, including banks, credit unions, and out-of-state institutions with a presence in the state. It mandates that these institutions create written security programs to protect customer data and comply with federal data security standards under the Gramm-Leach-Bliley Act. The bill also requires institutions to report any data security incidents involving consumer information within three business days of discovery. These requirements take effect October 1, 2026, and apply to all covered financial institutions handling Connecticut consumer data.

Maddy summarySB 219 establishes that if Connecticut's Banking Commissioner finds a landlord violated rules about rental security deposits (specifically sections (b), (d), (h), or (i) of the law), the commissioner can order the landlord to pay a civil penalty of up to $100,000 per violation. The bill also requires landlords to stop violating these rules and comply with security deposit laws. This applies directly to landlords who fail to follow state deposit regulations, such as returning deposits or providing required notices. The law takes effect on October 1, 2026, and gives the commissioner enforcement authority under existing statutes.

Maddy summarySB 217 requires mortgage lenders (mortgagees) to accept monthly, semimonthly (twice monthly), or biweekly (every two weeks) payments for new mortgage loans originated on or after October 1, 2026. This applies directly to lenders and borrowers, changing how payment schedules can be structured for new loans. The bill mandates that lenders must accept these payment frequencies as standard options, without imposing additional fees or restrictions. It does not affect existing mortgages or require lenders to alter payment terms for current borrowers.

Maddy summarySB 216 establishes a program allowing Connecticut's State Treasurer to invest up to $300 million of state operating cash with eligible community banks and credit unions. It sets asset limits for participation: initially prohibiting institutions with over $2 billion in assets (July 2023-Sept 2024), then adjusting the limit annually based on the median loan growth of participating institutions. The bill requires the State Treasurer to report eligible institutions to the Department of Banking annually and mandates that investment rates for participating institutions cannot exceed 100 basis points below comparable Treasury yields. This program directly affects community financial institutions seeking to manage state funds through a structured investment process.

Maddy summarySB 215 changes how banks determine when certain accounts or funds are deemed abandoned. It presumes deposits, time deposits, investments, checks, and safe deposit box contents are abandoned if owners don’t show activity for 3 years (5 years for safe deposit boxes). Owners can prevent this presumption by making transactions, writing to the bank, or having tax forms (1099s) not returned by the postal service within the timeframe. The bill directly affects individuals or entities with dormant bank accounts in Connecticut, modifying existing abandonment rules effective October 1, 2026.