AN ACT CONCERNING COMMUNITY INVESTMENT BOARDS AND NEIGHBORHOOD ASSISTANCE.

SB 230 requires certain municipalities to create community investment boards that will decide how to use municipal revenue-sharing funds and select grants for payment in lieu of taxes. It also directs the Office of Policy and Management to accept and test urban-focused solutions through pilot programs, and establishes a task force to examine challenges faced by nonprofit service providers. The bill directly affects participating cities/towns and nonprofit organizations by restructuring how local funds are allocated and how urban issues are addressed. Key changes include mandatory board formation for grant prioritization, new pilot program opportunities, and a formal review of nonprofit support systems.