(a) There is established an account to be known as the “Philanthropic Match account” which shall be a separate, nonlapsing account within the General Fund. The account shall contain any moneys required by law to be deposited in the account.
(b) Moneys in the account shall be expended by the Secretary of the Office of Policy and Management to match philanthropic gifts made by the philanthropic enterprise to the corporation described in section 10-265aa, upon certification to the secretary by the philanthropic enterprise that it has transferred twenty million dollars to the corporation, pursuant to section 10-265dd. The secretary may enter into agreements with other state agencies or private entities in order to make payments of the moneys in this account to the corporation.
(c) The secretary may expend twenty million dollars under this section in any fiscal year, for a maximum of five fiscal years, provided the secretary has entered into an agreement under which the corporation described in section 10-265aa confirms that it has received an equivalent amount for such fiscal year from the philanthropic enterprise.
(P.A. 19-117, S. 188.)
History: P.A. 19-117 effective June 26, 2019.