Connecticut Senate Bill SB00592

Connecticut 2011 Regular Session

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

Caption

An Act Concerning Legislative Approval Of Securitization Plans.

Impact

The impact of SB00592 would be substantial in terms of how the state manages its assets and debts. Currently, securitization processes may have a lower threshold for approval, allowing for more swift action in financial matters. By imposing a two-thirds majority requirement, the bill would likely slow down the securitization process, requiring more intense negotiations and consensus-building among lawmakers. This could potentially prevent hasty decisions that may not reflect the broader interests of constituents, ensuring that any financial action of significant magnitude has wide-ranging support.

Summary

SB00592, introduced by Senator Boucher, proposes a change to the legislative process in Connecticut regarding the securitization of state assets or future revenue streams. The primary focus of the bill is to require that any such securitization must obtain approval through a two-thirds vote from each chamber of the General Assembly. This requirement aims to enhance the legislative oversight and ensure that significant financial decisions concerning state assets are made with broad support within the legislature.

Contention

There may be notable points of contention surrounding SB00592. Proponents of the bill argue that requiring a two-thirds vote enhances accountability and reflects the democratic process more accurately, potentially increasing the public's trust in how state assets are managed. However, opponents could contend that this requirement may impede timely financial strategies that are critical in situations where quick action is necessary to leverage state assets effectively. The balance between legislative oversight and operational efficiency will likely be a key discussion point in debates surrounding this bill.