General Assembly Proposed Bill No. 440
January Session, 2011 LCO No. 1358
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. MCKINNEY, 28th Dist. SEN. FASANO, 34th Dist. REP. CAFERO, 142nd Dist. REP. CANDELORA, 86th Dist. REP. KLARIDES, 114th Dist.
General Assembly
Proposed Bill No. 440
January Session, 2011
LCO No. 1358
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. MCKINNEY, 28th Dist.
SEN. FASANO, 34th Dist.
REP. CAFERO, 142nd Dist.
REP. CANDELORA, 86th Dist.
REP. KLARIDES, 114th Dist.
AN ACT CONCERNING A LIMIT ON THE STATE'S BONDED INDEBTEDNESS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to limit bond allocations in order to reduce annual debt service payment amounts to a level that does not exceed ten per cent of all appropriated funds of the state budget.
Statement of Purpose:
To reduce the state's debt obligation.