Sec. 23-78. Matching funds. - Connecticut Statutes

      Sec. 23-78. Matching funds. Any moneys authorized for the program may be expended with matching funds from: (1) Private contributions of cash or securities, in an amount not less than fifteen per cent; (2) moneys from a federal matching program, subject to the limitations of applicable federal and state laws, in an amount authorized by said federal program; (3) contributions of real property, or interest therein, that serves recreational and natural heritage land acquisition needs of the department as determined by the commissioner; (4) municipal contributions of cash or securities, in an amount not less than fifteen per cent, provided contributions from municipalities, nonprofit entities and water companies shall be derived from a source other than state grant moneys obtained from the open space and watershed land acquisition grant program; or (5) any combination thereof. Contributions of land or interest in land shall be valued, for purposes of this section, in the amount of their appraised value.

      (P.A. 86-406, S. 7, 15; P.A. 87-448, S. 3, 6; June Sp. Sess. P.A. 93-1, S. 16, 45; P.A. 98-157, S. 1, 15.)

      History: P.A. 87-448 deleted the 50% matching contribution requirement and made expenditures from the fund discretionary rather than mandatory, amended Subdiv. (1) to require matching contributions from private entities of 20%, added Subdiv. (4) concerning municipal contributions and renumbered the remaining Subdiv. accordingly; June Sp. Sess. P.A. 93-1 amended section by substituting references to "program" for references to "fund", effective July 1, 1993; P.A. 98-157 reduced matching fund requirements for private and municipal contributions to 15% and added condition that certain matching funds not be derived from the open space and watershed land acquisition grant program, effective July 1, 1998.