Conn. Gen. Stat. § 47a § 47a-56k
Authorization of state bonds for purposes of the Housing Receivership Revolving Fund.
Operative Text
(a) The State Bond Commission shall have power, in accordance with the provisions of this section, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate fifty million three hundred thousand dollars, the proceeds of the sale of which shall be used by the Department of Housing to provide funds for the Housing Receivership Revolving Fund established in accordance with section 47a-56i, provided twenty-five million dollars of said authorization shall be effective July 1, 2024. Not more than six million dollars may be expended from said fund in any single municipality per year. (b) All provisions of section 3-20 or the exercise of any right or power granted thereby which are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section, and temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with said section 3-20 and from time to time renewed. Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds. None of such bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization which is signed by or on behalf of the Commissioner of Housing and states such terms and conditions as said commission in its discretion may require. Such bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on such bonds as the same become due, and accordingly and as part of the contract of the state with the holders of such bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made and the Treasurer shall pay such principal and interest as the same become due.
Under Conn. Gen. Stat. § 47a-56k, Connecticut authorizes the State Bond Commission to issue state bonds totaling up to approximately $50.3 million to fund the Housing Receivership Revolving Fund, which is administered by the Department of Housing. A portion of that authorization—$25 million—became effective July 1, 2024, and no more than $6 million may be spent from the fund in any single municipality in a given year. The bonds are backed by the full faith and credit of the state, meaning Connecticut pledges to repay principal and interest as they come due.
Plain English — not legal advice.
Conn. Gen. Stat. § 47a-56k establishes the state financing mechanism behind the Housing Receivership Revolving Fund, which can be used to address severely distressed rental properties placed into receivership. Property owners and managers operating in Connecticut should be aware that this fund provides the Department of Housing with resources to intervene in substandard housing situations, and that per-municipality spending caps of $6 million per year shape how broadly those resources can be deployed in any given locality. Operators who maintain properties in compliance with housing codes are generally less likely to encounter the receivership process that this fund is designed to support.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Conn. Gen. Stat. § 47a-56k is the provision that finances the Housing Receivership Revolving Fund, a state resource that can be used when rental housing falls into serious disrepair and a court appoints a receiver to manage or rehabilitate the property. Tenants living in substandard conditions may find this fund relevant because it supports the state's capacity to intervene in housing that poses health or safety concerns. Tenants who believe their housing may qualify for receivership-related action can explore options through local tenant-rights organizations or by contacting the Connecticut Department of Housing for information about available programs.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated September 17, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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