CGS § 3-36h. Transfer to trust upon birth of designated beneficiary.

Notwithstanding any provision of the general statutes, the Department of Social Services shall, not later September 1, 2024, and not later than September first annually thereafter, inform the Treasurer of the number of designated beneficiaries born in the prior fiscal year. After receiving such number, the Treasurer may transfer up to three thousand two hundred dollars in the trust for each designated beneficiary born in the prior fiscal year and transfer such money to any fund established pursuant to section 3-36c to achieve the purpose of this section for such beneficiary.

Short History

(P.A. 21-111, S. 110; June Sp. Sess. P.A. 21-2, S. 485; P.A. 23-204, S. 440.)

Long History

History: P.A. 21-111 effective July 1, 2021; June Sp. Sess. P.A. 21-2 replaced “shall” with “may” re transfer of bond proceeds issued pursuant to Sec. 3-36i and added provision re amount per beneficiary to be reduced pro rata when funds made available are insufficient, effective July 1, 2021; P.A. 23-204 replaced provisions re transfer from bond proceeds for crediting to beneficiaries and pro rata reduction with provisions re informing Treasurer of number of beneficiaries and transfer for beneficiaries, effective June 12, 2023.