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House Republican Leader Candelora Statement on Constitutionality of the Connecticut Equitable Investment Fund

Posted on June 7, 2021


House Republican Leader Vincent Candelora on Monday released the following statement regarding Attorney General Tong’s formal opinion regarding the proposed Connecticut Equity Investment Fund, an element of H.B. 6443 that was advanced by the Finance Committee in April.

“From the moment it was pitched it was abundantly clear to House Republicans that the Connecticut Equitable Investment Fund was a concept that deserved intense scrutiny, and it’s a no surprise that Attorney General Tong shares our concern about the constitutionality of a proposal that would see an unelected group of individuals manage a tremendous amount of state revenue without legislative oversight. Frankly, we remained shocked about what Finance Committee leadership attempted to do in H.B. 6443. In essence, it was a slush fund. As members of the General Assembly, it’s our shared responsibility to uphold the principles of the State Constitution. This formal opinion from the Attorney General should serve as notice to Democrats who are intent on making a considerable investment in our cities during the final days of session—in developing their new bonding-focused strategy, they should stay within the framework of our Constitution and ensure there’s an appropriate level of oversight.”

Read the letter from House Republicans

Read the letter from Attorney General Tong