AN ACT CONCERNING THE TEN-YEAR PLAN TO ERADICATE CONCENTRATED POVERTY IN PARTICIPATING CONCENTRATED POVERTY CENSUS TRACTS.

SB 1555 establishes a ten-year plan to reduce concentrated poverty in designated census tracts identified as "high poverty-low opportunity" as of January 2024. It creates an Office of Neighborhood Investment and Community Engagement within the Department of Economic and Community Development to oversee implementation, focusing on four municipalities with the highest concentration of such tracts. The bill requires participating areas to form community development corporations and sets a specific target: reducing poverty rates below 20% within ten years, alongside measurable improvements in education metrics, infrastructure, and housing conditions. The plan must include detailed timelines, responsible agencies, and benchmarks for educational outcomes like kindergarten readiness and college/career readiness. This initiative directly affects residents and local governments in 20+ targeted census tracts across four specific municipalities.