General Assembly Proposed Bill No. 5876
January Session, 2013 LCO No. 1554
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. CAFERO, 142nd Dist. REP. CANDELORA, 86th Dist. REP. KLARIDES, 114th Dist.
General Assembly
Proposed Bill No. 5876
January Session, 2013
LCO No. 1554
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. CAFERO, 142nd Dist.
REP. CANDELORA, 86th Dist.
REP. KLARIDES, 114th Dist.
AN ACT ESTABLISHING A PROCESS TO CANCEL CERTAIN OUTSTANDING BOND ALLOCATIONS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to reduce all bond allocations by requiring the State Bond Commission to review all outstanding projects that have not begun in the last five years, determine whether those projects are still in the state's best interest, and move to cancel any allocations to projects that are not.
Statement of Purpose:
To reduce the state's debt obligation and ensure that future capital projects are authorized only for essential purposes.