Connecticut Senate Bill SB00591

Connecticut 2011 Regular Session

• Introduced: 1/21/11
• Refer: 1/21/11

Caption

An Act Concerning The Use Of Bond Proceeds.

Impact

The implications of SB00591 are significant for state financial operations. By strictly designating the use of bond proceeds as limited to authorized projects, the bill mandates greater accountability and effectiveness in financial governance. This means that any future bonding undertaken will be squarely tied to specific and approved initiatives, potentially enhancing the transparency of state expenditures and bolstering taxpayer confidence in public financial management.

Summary

SB00591 is a proposed act focused on the regulation of bond proceeds within the state. Introduced by Senator Boucher, the bill seeks to amend existing statutes to ensure that any funds generated through bonding can only be utilized for specific programs or projects that have been duly authorized by the General Assembly. This measure aims to provide clearer guidelines regarding the allocation and use of bond proceeds, steering them away from budgetary expenses, which can sometimes be misallocated or inadequately monitored.

Contention

The introduction of SB00591 may also come with points of contention, particularly concerning budget flexibility for state officials. Critics might argue that restricting the use of bond proceeds exclusively to authorized projects could hinder the state's ability to address unforeseen budgetary shortfalls or urgent financial needs. Supporters, however, counter that such restrictions promote fiscal responsibility and deter the misuse of vital funding sources. The ongoing dialogue surrounding this bill will likely reflect these opposing perspectives as stakeholders weigh the significance of maintaining fiscal discipline versus the need for budgetary responsiveness.