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January 10, 2024

Advancing Opportunities: CHEFA & CHESLA’s 2024 Legislative Agenda

CHEFA is preparing to build on the successes of the past year by pursuing several legislative initiatives that will support Connecticut’s economy, workforce, and increase access to post-secondary education.

Here’s a look at what we’ll be working on in 2024:

Increasing access to childcare:

Dollar-for-dollar there is no better investment in Connecticut’s workforce than those made in supporting childcare providers throughout our state. CHEFA’s Workforce Investments Supporting Early Childhood Education (WISE) Tax Credit Program will provide a targeted support to childcare centers in childcare deserts. This will be accomplished by creating a new tax credit for businesses that make investments that support the recruitment and retention of vital staff in these centers.

The WISE Program is designed to not only enhance access to working capital for childcare providers, but to also incentivize public-private partnerships and provide businesses with a tangible benefit for investing in communities throughout Connecticut.

Increasing Affordable Access to Postsecondary Education:

As we navigate the educational landscape of 2024, these initiatives mark CHESLA’s commitment to increasing access to postsecondary education for all Connecticut residents.

In response to the evolving needs of our workforce, CHESLA will be introducing the Workforce Student Loan Subsidy Program. This new program, modeled after the CHESLA Alliance District Teacher Loan Subsidy Program, is designed to help support the State’s workforce development efforts aimed at recruiting and retaining employees in shortage areas by providing an interest rate subsidy for eligible individuals when they refinance their private loans with CHESLA.

This program will be a powerful tool as the State works to recruit and retain employees and recent graduates.

Additionally, CHESLA will be pursuing legislation that allows students under eighteen to access CHESLA’s student loans. This will bring CHESLA into alignment with its counterparts in other states and

the federal government. This will help ensure that more aspiring students have the financial support they need to pursue higher education, setting the stage for a more inclusive and accessible educational landscape.

CHESLA will also be pursuing legislation that will allow for the Special Capital Reserve Fund on its bond issues to be funded with a letter of credit or surety policy. This means more resources directed to student loans, making education even more accessible.

Together, We Shape the Future:

Each proposal is a step forward, a promise of brighter opportunities, and a testament to CHEFA’s and CHESLA’s dedication to enhancing the welfare and prosperity of Connecticut’s residents. We are excited to build on the progress of 2023 and look forward to helping shape a future where everyone in our State has the tools to thrive.

CHEFA & CHESLA’s 2024 Legislative Agenda