WeVote
Log In

Bill

Bill

SB 547

AN ACT INCREASING FUNDING FOR THE CONNECTICUT FOUNDATION SOLUTIONS INDEMNITY COMPANY, INC.

2025 Regular Session Introduced by Tim Ackert and 12 co-sponsors

SB 547 increases funding for Connecticut's Foundation Solutions Indemnity Company, affecting construction project insurance costs statewide.

REF. TO JOINT COMM. ON Finance, Revenue and Bonding
#statebondsforhousing
0
WeVote Research Nonpartisan
Bill Summary · SB 547

Legislative bill overview

SB 547 proposes increased funding for the Connecticut Foundation Solutions Indemnity Company, Inc., a state entity. The bill has been referred to the Joint Committee on Finance, Revenue and Bonding for review. No specific funding amounts or appropriations are detailed in the available legislative information.

Why is this important

The Connecticut Foundation Solutions Indemnity Company provides insurance or indemnification services related to foundation and construction work in the state. Changes to its funding affect the cost structure for construction projects and may impact residential and commercial development expenses across Connecticut.

Potential points of contention

  • Lack of transparency on funding amount: The bill title does not specify how much additional funding is proposed, making it difficult for stakeholders to assess fiscal impact
  • Purpose and necessity unclear: Without detailed legislative history available, it's unclear whether increased funding addresses documented shortfalls, expanded coverage needs, or other justifications
  • Impact on construction costs: Additional company funding may be passed to developers and homeowners through higher insurance or indemnification fees, affecting housing affordability and business competitiveness

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.