What is the status of SB218?

Signed into law as of May 27, 2026. Latest action: Signed by the Governor (May 27, 2026).

Fred Gee (D, 126), with 3 co-sponsors.

Where is the official record for SB218?

On the Connecticut Legislature website: https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00218&which_year=2026

Connecticut legislation · 2026 General Assembly

Connecticut SB218: AN ACT CONCERNING THE COMMUNITY BANK AND CREDIT UNION INVESTMENT PROGRAM, MORTGAGE PAYMENTS, PENALTIES FOR VIOLATIONS OF RENTAL SECURITY DEPOSIT REQUIREMENTS, CERTAIN APPROVALS BY THE BANKING COMMISSIONER, CONNECTICUT BRANCH APPLICATIONS AND SECURED CREDIT CARDS.

Q: What is SB218?

SB218 is a bill in the Connecticut Legislature (2026 General Assembly): AN ACT CONCERNING THE COMMUNITY BANK AND CREDIT UNION INVESTMENT PROGRAM, MORTGAGE PAYMENTS, PENALTIES FOR VIOLATIONS OF RENTAL SECURITY DEPOSIT REQUIREMENTS, CERTAIN APPROVALS BY THE BANKING COMMISSIONER, CONNECTICUT BRANCH APPLICATIONS AND SECURED CREDIT CARDS.

Q: What does SB218 do?

In its own words: An act concerning the community bank and credit union investment program, mortgage payments, penalties for violations of rental security deposit requirements, certain approvals by the banking commissioner, connecticut branch applications and secured credit cards. assembly convened.

Status: Signed into law, May 27, 2026

What the bill says

An act concerning the community bank and credit union investment program, mortgage payments, penalties for violations of rental security deposit requirements, certain approvals by the banking commissioner, connecticut branch applications and secured credit cards. assembly convened.

From the enrolled text:

AN ACT CONCERNING THE COMMUNITY BANK AND CREDIT UNION INVESTMENT PROGRAM, MORTGAGE PAYMENTS, PENALTIES FOR VIOLATIONS OF RENTAL SECURITY DEPOSIT REQUIREMENTS, CERTAIN APPROVALS BY THE BANKING COMMISSIONER, CONNECTICUT BRANCH APPLICATIONS AND SECURED CREDIT CARDS. Assembly convened: Section 1. Section 3-24k of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2026): (a) The State Treasurer may establish a program under which the State Treasurer may, based on cash availability, make available a pool of funds not exceeding three hundred million dollars for investment with eligible community banks and community credit unions. Such funds shall be obtained from the state's operating cash managed by the State Treasurer. (b) (1) The State Treasurer shall establish eligibility criteria for any program established under subsection (a) of this section. Such eligibility criteria shall include, at a minimum, an asset limit for community banks and community credit unions to participate in such program. Such asset limit shall provide that: (A) During the period beginning July 1, 2023, and ending September 29, 2024, no community bank or community Senate Bill No. 218 credit union with assets exceeding two billion dollars may participate in such program; and (B) beginning September 30, 2024, no community bank or community credit union may participate in such program if such community bank's or community …

Read the full official text

Connecticut SB218: AN ACT CONCERNING THE COMMUNITY BANK AND CREDIT UNION INVESTMENT PROGRAM, MORTGAGE PAYMENTS, PENALTIES FOR VIOLATIONS OF RENTAL SECURITY DEPOSIT REQUIREMENTS, CERTAIN APPROVALS BY THE BANKING COMMISSIONER, CONNECTICUT BRANCH APPLICATIONS AND SECURED CREDIT CARDS.

What the bill says

Sponsors

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Common questions