Connecticut 2015 Regular Session

Connecticut Senate Bill SB00479 Compare Versions

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11 General Assembly Committee Bill No. 479
22 January Session, 2015 LCO No. 4647
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3+ *04647SB00479TRA*
44 Referred to Committee on TRANSPORTATION
55 Introduced by:
66 (TRA)
77
88 General Assembly
99
1010 Committee Bill No. 479
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1212 January Session, 2015
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1414 LCO No. 4647
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16+*04647SB00479TRA*
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1818 Referred to Committee on TRANSPORTATION
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2020 Introduced by:
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2222 (TRA)
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2424 AN ACT AUTHORIZING SPECIAL TAX OBLIGATION BONDS OF THE STATE FOR UPGRADES TO RAIL INFRASTRUCTURE.
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2626 Be it enacted by the Senate and House of Representatives in General Assembly convened:
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2828 Section 1. (Effective July 1, 2015) (a) The State Bond Commission shall have power, in accordance with the provisions of this section, from time to time to authorize the issuance of special tax obligation bonds of the state in one or more series and in principal amounts in the aggregate, not exceeding four billion dollars, provided (1) one hundred million dollars shall be effective July 1, 2016, (2) two hundred million dollars shall be effective July 1, 2017, (3) two hundred million dollars shall be effective July 1, 2018, (4) four hundred million dollars shall be effective July 1, 2019, (5) four hundred million dollars shall be effective July 1, 2020, (6) four hundred million dollars shall be effective July 1, 2021, (7) six hundred million dollars shall be effective July 1, 2022, (8) eight hundred million dollars shall be effective July 1, 2023, and (9) eight hundred million dollars shall be effective July 1, 2024.
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3030 (b) The proceeds of the sale of such bonds to the extent hereinafter stated, shall be used for the purpose of payment of the transportation costs, as defined in subdivision (6) of section 13b-75 of the general statutes, with respect to the projects and uses described in this section, which projects and uses are hereby found and determined to be in furtherance of one or more of the authorized purposes for the issuance of special tax obligation bonds set forth in section 13b-74 of the general statutes. Any proceeds from the sale of such bonds shall be used by the Department of Transportation for the following purposes and projects:
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3232 (1) On the Danbury rail line: (A) The electrification of the Danbury rail line, to be undertaken in phases, first from Norwalk to Wilton, and then from Wilton to Danbury, and (B) the extension of passenger service to New Milford;
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3434 (2) On the Waterbury rail line: (A) The improvements necessary to increase the number and frequency of trains running on the Waterbury rail line, and (B) the addition of stops at stations in Seymour, Shelton and Derby;
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3636 (3) On the New Canaan rail line: Upgrades and improvements to the train station, including erecting a canopy; and
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3838 (4) On the Housatonic rail line: (A) Ensure that any transportation master plan includes the Housatonic rail line as an integral part of the state's overall transportation investment plan, and that such plans align with Massachusetts' plan to upgrade or invest in the section of the Berkshire rail line from Pittsfield to the Connecticut border, and (B) improve conditions on the Housatonic rail line for freight service, while planning for the addition of passenger service.
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4040 (c) None of such bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it (1) a request for such authorization, that is signed by the Secretary of the Office of Policy and Management or by or on behalf of said state officer, department or agency and stating such terms and conditions as said commission, in its discretion, may require, and (2) any capital development impact statement and any human services facility colocation statement required to be filed with the Secretary of the Office of Policy and Management pursuant to section 4b-23 of the general statutes, any advisory report regarding the state conservation and development policies plan required pursuant to section 16a-31 of the general statutes, and any statement regarding farm land required pursuant to subsection (g) of section 3-20 of the general statutes and section 22-6 of the general statutes, provided the State Bond Commission may authorize such bonds without a finding that the reports and statements required by this subdivision have been filed with it if said commission authorizes the secretary of said commission to accept such reports and statements on its behalf. No funds derived from the sale of bonds authorized by said commission without a finding that the reports and statements required by this subdivision have been filed with it shall be allotted by the Governor for any project until the reports and statements required by this subdivision, with respect to such project, have been filed with the secretary of said commission.
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4242 (d) For the purposes of this section, each request filed as provided in this section for an authorization of bonds shall identify the project for which the proceeds of the sale of such bonds are to be used and expended and, in addition to any terms and conditions required pursuant to this section, include the recommendation of the person signing such request as to the extent to which federal, private or other moneys then available or thereafter to be made available for costs in connection with any such project should be added to the state moneys available or becoming available from the proceeds of bonds and temporary notes issued in anticipation of the receipt of the proceeds of bonds. If the request includes a recommendation that some amount of such federal, private or other moneys should be added to such state moneys, then, if and to the extent directed by the State Bond Commission at the time of authorization of such bonds, such amount of such federal, private or other moneys then available or thereafter to be made available for costs in connection with such project shall be added to such state moneys.
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4444 (e) Any balance of proceeds of the sale of such bonds authorized for the projects or purposes of this section, in excess of the aggregate costs of all the projects so authorized, shall be used in the manner set forth in sections 13b-74 to 13b-77, inclusive, of the general statutes, and in the proceedings of the State Bond Commission respecting the issuance and sale of such bonds.
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4646 (f) Such bonds issued pursuant to this section shall be special obligations of the state and shall not be payable from or charged upon any funds other than revenues of the state pledged therefor in subsection (b) of section 13b-61 of the general statutes and section 13b-69 of the general statutes, or such other receipts, funds or moneys as may be pledged therefor. Such bonds shall not be payable from or charged upon any funds other than such pledged revenues or such other receipts, funds or moneys as may be pledged therefor, nor shall the state or any political subdivision thereof be subject to any liability thereon, except to the extent of such pledged revenues or such other receipts, funds or moneys as may be pledged therefor. Such bonds shall be issued under and in accordance with the provisions of sections 13b-74 to 13b-77, inclusive, of the general statutes.
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5151 This act shall take effect as follows and shall amend the following sections:
5252 Section 1 July 1, 2015 New section
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5454 This act shall take effect as follows and shall amend the following sections:
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5656 Section 1
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5858 July 1, 2015
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6060 New section
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62+Statement of Purpose:
63+
64+To finance infrastructure improvements on certain rail lines.
65+
66+[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.]
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64-TRA Joint Favorable C/R FIN
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66-TRA
70+Co-Sponsors: SEN. BOUCHER, 26th Dist.
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68-Joint Favorable C/R
72+Co-Sponsors:
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70-FIN
74+SEN. BOUCHER, 26th Dist.
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76+S.B. 479