General Assembly Proposed Bill No. 5477
January Session, 2015 LCO No. 756
*00756*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. MULLIGAN, 55th Dist.
General Assembly
Proposed Bill No. 5477
January Session, 2015
LCO No. 756
*00756*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. MULLIGAN, 55th 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 the net sum of all bond allocations by requiring the State Bond Commission to review each outstanding bond allocation for any project that has not begun in the prior five years, determine whether such project is still in the state's best interests and move to cancel any allocation for a project that the commission finds is not in the state's best interests.
Statement of Purpose:
To reduce the state's debt obligations by requiring a review of the necessity of capital projects for which bonds have been allocated but implementation has not begun.