Connecticut House Bill HB06091

Connecticut 2013 Regular Session

• Introduced: 1/25/13
• Refer: 1/25/13

Caption

An Act Establishing A Capital Debt Affordability Committee.

Impact

If enacted, HB06091 would significantly influence state law by setting a formal process for examining the state's debt levels. This move aims to ensure that the state does not overextend itself financially, maintaining fiscal responsibility. The findings and recommendations of the committee would be reported to the Governor and the General Assembly annually, positioning them as critical inputs for future budgetary and financial decisions.

Summary

House Bill 06091 proposes the establishment of a Capital Debt Affordability Committee tasked with reviewing and evaluating the affordability of the state's general obligation debt. This bill highlights the importance of financial planning in state governance, aimed at assessing how much capital debt the state can responsibly issue in relation to its resources available for repayment. With this framework, the committee would serve as a financial planning tool within the capital planning process, providing guidance on prudent borrowing practices for the state.

Contention

While the bill appears to promote fiscal prudence, potential points of contention may arise regarding the establishment and operational independence of the committee. Stakeholders might debate the amount of authority given to the committee in dictating economic policies and the implications of its recommendations on future state-funded projects. Additionally, differing perspectives on state debt management strategies could lead to discussions about the appropriateness of the proposed debt levels.