General Assembly Proposed Bill No. 5445
January Session, 2017 LCO No. 629
*00629*
Referred to Committee on LABOR AND PUBLIC EMPLOYEES
Introduced by:
REP. STORMS, 60th Dist.
General Assembly
Proposed Bill No. 5445
January Session, 2017
LCO No. 629
*00629*
Referred to Committee on LABOR AND PUBLIC EMPLOYEES
Introduced by:
REP. STORMS, 60th Dist.
AN ACT CONCERNING MUNICIPAL BUDGET RESERVE BALANCES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That subdivision (9) of subsection (d) of section 7-473c of the general statutes be amended to provide that municipal budget reserve fund balances of fifteen per cent or less shall not be considered by the arbitration panel in calculating the financial capability of a municipality.
Statement of Purpose:
To permit municipalities to maintain sufficient general reserve fund balances.