Connecticut Senate Bill SB01133

Connecticut 2015 Regular Session

• Introduced: 4/14/15
• Refer: 4/14/15

Caption

An Act Concerning The Treatment Of Bond Premiums Under The State General Obligation Bond Procedure Act.

Impact

The proposed amendments under SB01133 would have implications for how premiums from bond issuances are handled, particularly concerning the deposit and allocation of such earnings. This could impact state revenues by modifying where funds from bond premiums go, which may affect budget planning and financial strategy decisions. The act could contribute to a more efficient use of bond proceeds, potentially leading to savings over time and improved public financial management.

Summary

SB01133, titled 'An Act Concerning The Treatment Of Bond Premiums Under The State General Obligation Bond Procedure Act', seeks to amend existing statutes governing the issuance and management of state bonds. Specifically, the bill modifies how bond premiums are treated under state law. By restructuring the treatment of these premiums, the bill aims to enhance the financial health of the state's general obligation bond procedure, which is vital for managing the state's debt responsibly and effectively. This change is intended to streamline financial operations related to bonding, ensuring that funds are utilized in a more precise and beneficial manner.

Contention

Discussions around SB01133 may touch on various points of contention among stakeholders. Proponents of the bill argue that the changes will provide greater clarity and efficiency in the state’s bond management practices, ultimately bringing financial benefits to state funds. However, opponents might raise concerns about any potential risks associated with the changes in premium treatment, worrying that it could lead to less transparency or difficulties in tracking state financial obligations. As the bill progresses, these discussions will likely highlight the balance between fiscal efficiency and the necessity for robust financial oversight.