Connecticut Senate Bill SB01242

Connecticut 2011 Regular Session

• Introduced: 6/3/11
• Engrossed: 6/3/11
• Chaptered: 6/14/11
• Enrolled: 6/16/11
• Passed: 6/30/11

Caption

An Act Authorizing Bonds Of The State For Capital Improvements Authorizing Special Tax Obligation Bonds Of The State For Transportation Purposes And Authorizing State Grant Commitments For School Building Projects.

Impact

The enactment of SB01242 is projected to significantly impact state laws regarding financing mechanisms for public projects. It allows the state to issue bonds up to specified limits, ensuring that projects such as transportation improvements and education facility enhancements can be financed without immediate draw on appropriations. The bill outlines the processes for authorization and the use of revenues generated from these bonds, allowing for systematic advancements in infrastructure while providing financial flexibility to the state budget.

Summary

SB01242, titled 'An Act Authorizing Bonds Of The State For Capital Improvements,' is a legislative proposal aimed at facilitating funding for various capital projects through the issuance of state bonds. The bill specifically provides for the authorization of special tax obligation bonds that are intended primarily for transportation-related projects and school building improvements. By leveraging state bonds, the bill seeks to improve infrastructure and support educational facilities, thus promoting community development and enhancing overall state services.

Sentiment

Discussions surrounding SB01242 indicate a generally positive sentiment from supporters who emphasize the necessity of upgrading state infrastructure and educational facilities. Proponents view the funding as vital for economic development and public safety. However, some concerns have been voiced regarding potential over-reliance on bond financing, with critics cautioning against increasing state debt and advocating for more sustainable funding solutions.

Contention

Notable points of contention around SB01242 arise from debates on the feasibility and long-term implications of the bond authorization. Opponents argue that while immediate improvements are desirable, the long-term costs associated with servicing state debt may burden future budgets and taxpayers. This apprehension highlights the need for balancing immediate infrastructure needs with prudent fiscal management, which could influence future legislative priorities.