General Assembly Proposed Bill No. 5011
February Session, 2014 LCO No. 193
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. WRIGHT E., 41st Dist.
General Assembly
Proposed Bill No. 5011
February Session, 2014
LCO No. 193
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. WRIGHT E., 41st Dist.
AN ACT CONCERNING AN ANNUAL REVIEW OF THE STATE'S BONDED INDEBTEDNESS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to require an annual review of the size and affordability of the state's general obligation debt. The Capital Debt Affordability Advisory Committee shall be charged with completing such annual review, and submitting it to the Governor, General Assembly and members of the State Bond Commission, along with an advisory report on the maximum amount of new long-term general obligation debt that prudently may be authorized for the next fiscal year.
Statement of Purpose:
To reduce the state's indebtedness and its debt service obligations in the budget.