General Assembly Proposed Bill No. 598
January Session, 2011 LCO No. 944
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. BOUCHER, 26th Dist.
General Assembly
Proposed Bill No. 598
January Session, 2011
LCO No. 944
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. BOUCHER, 26th Dist.
AN ACT CONCERNING A LIMIT ON CAPITAL DEBT.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to limit the amount of state bonding to maintain the level of debt service at or below ten per cent of the annual state budget.
Statement of Purpose:
To cap at ten per cent the annual cost of debt service for any general obligation bond issues.