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![handle is hein.sag/sagct2025 and id is 1 raw text is:
OFFICE OF THE ATTORNEY GENERAL
CONNECTICUT
WILLIAM TONG
ATTORNEY GENERAL
April 28, 2025
By Email
The Honorable Vincent Candelora
House Republican Leader
Legislative Office Building, Room 4200
300 Capitol Avenue
Hartford, Connecticut 06106
Re: Request or Formal Opinion
Dear Leader Candelora:
You have requested my formal legal opinion on whether the recent transfer of interest
earned on funds the State received through the American Rescue Plan Act (ARPA) from the
Treasurer's Interest Credit Program to the General Fund violated Special Act 21-1, An Act
Concerning Legislative Oversight and Approval of COVID-19 Relief Funds. I conclude it did not,
for at least three reasons.
First, the default rule in Connecticut is that all interest earned on [funds invested by the
Treasurer] shall be credited to the General Fund unless ... [o]therwise provided by a state statute or
bond indenture . . . . Conn. Gen. Stat. 3-39b.' Special Act 21-1 does not override the default rule,
as it says nothing about interest earned on ARPA funds and does not direct the interest to be
credited anywhere.
Second, the General Assembly knows how to override the default rule when it wants and has
done so on several occasions. For instance, it established the Criminal Injuries Compensation Fund
and explicitly directed that [t]he interest derived from the investment of the fund shall be credited
to the fund. Conn. Gen. Stat. 54-215; see also, e.g., id., 22a-133t (similar); id., 38a-52a (similar).
In some instances, the General Assembly has expressly distinguished between the fund at issue and
the General Fund in the same statute, directing that interest should be credited to one or the other
depending on the circumstances. See, eg., Conn. Gen. Stat. 20-324c (requiring that [t]he
interest arising from such investments shall be credited to the Real Estate Guaranty Fund whenever
the fund balance is below five hundred thousand dollars, and to the General Fund whenever the
' Section 3-39b also permits interest to be allocated elsewhere upon written application by the heads
of state agencies or if the Treasurer deems it in the State's best interest. Neither exception applies
here.
165 Capitol Avenue
Hartford, Connecticut 06106
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