Connecticut 2015 Regular Session

Connecticut Senate Bill SB00040 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	General Assembly ~~Committee~~ Bill No. 40
2		-	January Session, 2015 LCO No. ~~5507~~
3		-	~~05507SB00040FIN~~
	1	+	General Assembly Proposed Bill No. 40
	2	+	January Session, 2015 LCO No. 158
	3	+	00158
4	4		Referred to Committee on FINANCE, REVENUE AND BONDING
5	5		Introduced by:
6		-	~~(FIN)~~
	6	+	SEN. FRANTZ, 36th Dist.
7	7
8	8		General Assembly
9	9
10		-	~~Committee~~ Bill No. 40
	10	+	Proposed Bill No. 40
11	11
12	12		January Session, 2015
13	13
14		-	LCO No. ~~5507~~
	14	+	LCO No. 158
15	15
16		-	~~05507SB00040FIN~~
	16	+	00158
17	17
18	18		Referred to Committee on FINANCE, REVENUE AND BONDING
19	19
20	20		Introduced by:
21	21
22		-	~~(FIN)~~
	22	+	SEN. FRANTZ, 36th Dist.
23	23
24	24		AN ACT CONCERNING THE USE OF BOND PROCEEDS.
25	25
26	26		Be it enacted by the Senate and House of Representatives in General Assembly convened:
27	27
28		-	Section 1. Section 3-17 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2015):
29		-
30		-	(a) The Treasurer shall receive all moneys belonging to the state and disburse the same only as [he] the Treasurer is directed by law. The Treasurer shall superintend the collection of the state taxes and revenue, receive all such taxes and revenue and make proper entries and credits for the same. [He]
31		-
32		-	(b) The Treasurer may issue, from time to time, registered or coupon bonds of this state in such sums as [he] the Treasurer finds expedient, deliver the same to the retirement fund provided for in section 10-183r and issue the same in exchange for or in lieu of any registered or coupon bonds previously authorized to be issued; and such bonds so issued shall be payable at the same time and bear interest at the same rate as the bonds received in exchange; and any bonds so received in exchange for new bonds shall be cancelled by the Treasurer.
33		-
34		-	(c) The Treasurer shall hold the proceeds from the issuance of any bond separate from any other moneys belonging to the state, and shall not use the proceeds from such issuances for any purpose except the financing of the specific program or project that was approved by the State Bond Commission with respect to such issuance.
35		-
36		-
37		-
38		-
39		-	This act shall take effect as follows and shall amend the following sections:
40		-	Section 1 July 1, 2015 3-17
41		-
42		-	This act shall take effect as follows and shall amend the following sections:
43		-
44		-	Section 1
45		-
46		-	July 1, 2015
47		-
48		-	3-17
	28	+	That section 3-17 of the general statutes be amended to provide that the Treasurer shall hold all proceeds from the issuance of bonds separate from any other monies belonging to the state and shall not use such issuances for any purpose except the financing of a specific program or project, as approved by the State Bond Commission and as issued by the Treasurer.
49	29
50	30		Statement of Purpose:
51	31
52		-	To require that bond proceeds be used only for their specified purpose.
53		-
54		-	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]
55		-
56		-
57		-
58		-	Co-Sponsors: SEN. FRANTZ, 36th Dist.
59		-
60		-	Co-Sponsors:
61		-
62		-	SEN. FRANTZ, 36th Dist.
63		-
64		-	S.B. 40
	32	+	To require that bond proceeds be used only for their specified purpose and prohibit the use of bond proceeds to pay for ongoing general government expenditures.