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2026 HB 5224: An Act Concerning The Department Of Consumer Protection's Recommendations Regarding Various Guaranty Funds.
To (1) transfer to the Department of Consumer Protection various duties concerning the Real Estate and Connecticut Health Club Guaranty Funds, (2) with respect to the Real Estate Guaranty Fund, (A) provide that no application to recover compensation from said fund shall be brought later than two years from final determination of, or expiration of time for appeal in connection with, a binding arbitration decision or a court order or decree, and (B) subrogate the department to the rights of the creditor under a decision, order or decree, (3) require an applicant for payment from the Home Improvement Guaranty Fund to attest that the applicant made a good faith effort to satisfy a decision, judgment order or decree against a contractor or proprietor, (4) provide that interest shall not accrue on a debt owed to the Real Estate, Home Improvement, Connecticut Health Club or New Home Construction Guaranty Fund after such debt has been referred to the Department of Administrative Services for collection, and (5) repeal a provision concerning the Connecticut Real Estate Commission's procedure following receipt of a notice concerning the Real Estate Guaranty Fund.