General Assembly Proposed Bill No. 380
January Session, 2015 LCO No. 1770
*01770*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. FASANO, 34th Dist.
General Assembly
Proposed Bill No. 380
January Session, 2015
LCO No. 1770
*01770*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. FASANO, 34th Dist.
AN ACT CONCERNING THE CANCELLATION OF CERTAIN BOND AUTHORIZATIONS AND ALLOCATIONS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to provide that: (1) Any bonding authorization that has been in effect for more than five fiscal years shall be deemed cancelled; and (2) any bonding allocation that has not begun to incur expenditures within five years shall be deemed null and void.
Statement of Purpose:
To reduce the growth in state debt by cancelling certain bond authorizations and allocations.