General Assembly Raised Bill No. 5370
February Session, 2012 LCO No. 1646
*_____HB05370TRAFIN031612____*
Referred to Committee on Transportation
Introduced by:
(TRA)
General Assembly
Raised Bill No. 5370
February Session, 2012
LCO No. 1646
*_____HB05370TRAFIN031612____*
Referred to Committee on Transportation
Introduced by:
(TRA)
AN ACT CONCERNING CHANGES TO THE LOCAL BRIDGE PROGRAM.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subdivision (4) of section 13a-175p of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2012):
(4) "Grant percentage" means a percentage established by the commissioner for each municipality by (A) ranking all municipalities in descending order according to each such municipality's adjusted equalized net grand list per capita as defined in section 10-261; and (B) determining a percentage for each such municipality on a scale from not less than [ten] fifteen per cent to not more than [thirty-three] fifty per cent based upon such ranking. In any case where a municipality does not have an adjusted equalized net grand list per capita such municipality shall be deemed to have the adjusted equalized net grand list per capita of the town in which it is located.
Sec. 2. Section 13a-175s of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2012):
(a) The commissioner shall maintain a list of eligible bridges and shall establish a priority list of eligible bridge projects for each fiscal year. In establishing such priority list, the commissioner shall consider the physical condition of each eligible bridge.
(b) In each fiscal year the commissioner may make project loans to municipalities in the order of the priority list of eligible bridge projects to the extent of moneys available therefor in the Local Bridge Revolving Fund. Each municipality undertaking an eligible bridge project may apply for and receive a project loan or loans. The aggregate amount of project loans made to a municipality with respect to any project shall be equal to the amount requested by the municipality up to an amount not to exceed [fifty per cent of] the project costs allocable therefor to such municipality less any state or federal grant money.
(c) Each project loan shall be made pursuant to a project loan agreement between the state, acting by and through the commissioner, and the borrowing municipality and shall be evidenced by a project loan obligation of the borrowing municipality issued in accordance with section 13a-175t. Each project loan agreement shall be in the form prescribed by the commissioner, provided [that] each project loan agreement shall provide for a project loan obligation bearing interest at [the] a rate [of six per cent] to be determined in accordance with subsection (t) of section 3-20, but in no event in excess of six per cent per annum payable quarterly and maturing no later than ten years from the date of such obligation. A project loan agreement made pursuant to this section shall not be deemed to be a public works contract as defined in section 46a-68b and the requirements of chapters 58 and 814c shall not apply to such project loan agreements.
(d) In each fiscal year the commissioner may make project grants to municipalities in the order of the priority list of eligible bridge projects to the extent moneys are available therefor. Each municipality undertaking an eligible bridge project may apply for and receive a project grant equal to its grant percentage multiplied by the project costs allocable to such municipality. A project grant made pursuant to this section shall not be deemed to be a public works contract as defined in section 46a-68b and the requirements of chapters 58 and 814c shall not apply to such project grants.
(e) All applications for project loans and project grants [for the fiscal year ending June 30, 1985, shall be filed with the commissioner no later than October 1, 1984, and for each succeeding fiscal year all such applications] shall be filed with the commissioner no later than [March] May first of the fiscal year [next] preceding the fiscal year in which such loans and grants would be awarded. The commissioner may for good cause extend the period [of time] in which any such application may be filed.
(f) A project grant or project loan shall not be made to a municipality with respect to an eligible bridge project unless: (1) Each municipality undertaking such project has available to it, or has made arrangements satisfactory to the commissioner to obtain, funds to pay that portion of the project costs for which it is legally obligated and which are not met by project loans or project grants; (2) each municipality undertaking such project provides assurances satisfactory to the commissioner that it will undertake and complete such project with due diligence and that it will operate and maintain the eligible bridge properly after completion of such project; (3) each municipality undertaking such project and seeking a project loan or a project grant has filed with the commissioner all applications and other documents prescribed by the commissioner; (4) each municipality undertaking such project and seeking a project loan or a project grant has established separate accounts for the receipt and disbursement of the proceeds of project loans and project grants; and (5) in any case in which an eligible bridge is owned or maintained by more than one municipality, evidence satisfactory to the commissioner that all such municipalities are legally bound to complete their respective portions of such project. Notwithstanding any provisions of this subsection, the commissioner may make an advance grant to a municipality for the purpose of funding the engineering cost of an eligible bridge project. Such grant shall equal the municipality's grant percentage multiplied by the engineering cost, which cost shall not exceed fifteen per cent of the construction cost of the project, provided the amount of such advance shall be deducted from the total grant for the project.
(g) Notwithstanding the provisions of subsections (b) and (d) of this section, the commissioner may make project grants and project loans with respect to an eligible bridge project without regard to the priority list of eligible bridge projects if a public emergency exists requiring the immediate removal, replacement, reconstruction, rehabilitation or improvement of the eligible bridge of such project to protect the public health and safety.
(h) A project grant or project loan made pursuant to this section shall not be deemed to be a proposed state action as defined in section 25-68b.
Sec. 3. Subsection (c) of section 13a-175t of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):
(c) Each project loan obligation issued pursuant to this section shall bear interest at [the] a rate [of six per cent] to be determined in accordance with subsection (t) of section 3-20, but in no event in excess of six per cent per annum payable quarterly, shall mature in such amounts and at such time or times not later than ten years from the date thereof and shall contain such other terms and provisions as the project loan agreement under which it is issued provides.
Sec. 4. (NEW) (Effective July 1, 2012) (a) For the purposes described in subsection (b) of this section, the State Bond Commission shall have the power, from time to time, to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate fifteen million dollars.
(b) The proceeds of the sale of said bonds, to the extent of the amount stated in subsection (a) of this section, shall be used by the Department of Transportation for deposit in the Local Bridge Revolving Fund, established pursuant to section 13a-175r of the general statutes, for the purpose of removing, replacing, rehabilitating and reconstructing local bridges.
(c) All provisions of section 3-20 of the general statutes, or the exercise of any right or power granted thereby, which are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section, and temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with said section 3-20 and from time to time renewed. Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds. None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization which is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require. Said bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on said bonds as the same become due, and accordingly and as part of the contract of the state with the holders of said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2012 13a-175p(4)
Sec. 2 July 1, 2012 13a-175s
Sec. 3 from passage 13a-175t(c)
Sec. 4 July 1, 2012 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2012
13a-175p(4)
Sec. 2
July 1, 2012
13a-175s
Sec. 3
from passage
13a-175t(c)
Sec. 4
July 1, 2012
New section
TRA Joint Favorable C/R FIN
TRA
Joint Favorable C/R
FIN