Bill Text: CT SB00272 | 2011 | General Assembly | Introduced

Connecticut Senate Bill 272 (Prior Session Legislation)

Introduced

Bill Title: An Act Concerning The Use Of Bond Proceeds.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2011-01-20 - Referred to Joint Committee on Finance, Revenue and Bonding [SB00272 Detail]

Download: Connecticut-2011-SB00272-Introduced.html


General Assembly		*Proposed Bill No. 272*
*January Session, 2011*		LCO No. 751

Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. FRANTZ, 36th Dist.

AN ACT CONCERNING THE USE OF BOND PROCEEDS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to provide that the Treasurer shall hold all proceeds from the issuance of bonds separate from any other moneys belonging to the state and shall not use such issuances for any purpose except the financing of a specific program or project, as approved by the State Bond Commission and as issued by the Treasurer.

Statement of Purpose:

To require that bond proceeds be used only for their intended purpose and prohibit the use of bond proceeds to pay for ongoing general government expenditures.