Bill Text: CT SB00380 | 2015 | General Assembly | Introduced

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Bill Title: An Act Concerning The Cancellation Of Certain Bond Authorizations And Allocations.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-01-22 - Referred to Joint Committee on Finance, Revenue and Bonding [SB00380 Detail]

Download: Connecticut-2015-SB00380-Introduced.html

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General Assembly		Proposed Bill No. 380
January Session, 2015		LCO No. 1770
		*01770*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. FASANO, 34th Dist.

AN ACT CONCERNING THE CANCELLATION OF CERTAIN BOND AUTHORIZATIONS AND ALLOCATIONS.

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

That the general statutes be amended to provide that: (1) Any bonding authorization that has been in effect for more than five fiscal years shall be deemed cancelled; and (2) any bonding allocation that has not begun to incur expenditures within five years shall be deemed null and void.

Statement of Purpose:

To reduce the growth in state debt by cancelling certain bond authorizations and allocations.