THIS FUND MUST BE PROTECTED FROM DIVERSIONS
Protect the Connecticut Community Investment Act from further diversions and sweeps
The CIA plays a vital role in underwriting the state’s economic well-being and overall quality of life in our communities. Despite this, the fund has been subject to unallocated diversions and sweeps for years.
- 2015: 50% of recording fee revenue was divested from reaching CIA accounts, resulting in a 70% cut in funding in the four core program areas—Farmland Preservation, Open Space Conservation, Affordable Housing, and Historic Preservation.
- 2016: The CIA fund was targeted for diversion to the General Fund, causing a 50% cut for the following two fiscal years that left projects unfunded across Connecticut.
- 2017-2018: The state budget included a $5 million sweep of the CIA account that lasted for two years.
- 2019: Although the proposal to move the CIA account into the General Fund was rejected, $1.5 million was diverted from the fund, adversely impacting programs that supported the four core program areas.
To help our economies and our communities thrive, we must protect this fund from further diversions and sweeps. We are grateful to the current administration and Connecticut General Assembly for keeping the fund whole. We hope that you will also do your part in supporting the Community Investment Act.
