General Assembly Proposed Bill No. 5475
January Session, 2015 LCO No. 1170
*01170*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. CANDELORA, 86th Dist. REP. WOOD, 141st Dist. REP. DAVIS C., 57th Dist.
General Assembly
Proposed Bill No. 5475
January Session, 2015
LCO No. 1170
*01170*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. CANDELORA, 86th Dist.
REP. WOOD, 141st Dist.
REP. DAVIS C., 57th Dist.
AN ACT CONCERNING THE USE OF REVENUE FROM BOND PREMIUMS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That titles 3 and 13b of the general statutes be amended to require any revenue from accrued premiums on general obligation bonds or special tax obligation bonds to be counted as revenue for the purposes of the state budget and to prohibit the use of such premium revenue for any purpose other than debt reduction.
Statement of Purpose:
To require revenue from accrued premiums on general obligation bonds or special tax obligation bonds to be counted as revenue for the purposes of the state budget and to be allocated only for debt reduction.