Connecticut 2019 Regular Session

Connecticut Senate Bill SB00868 Compare Versions

Version 1 (Old)

Version 2 (New)

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7	5		General Assembly Raised Bill No. 868
8	6		January Session, 2019
9	7		LCO No. 4174
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12	10		Referred to Committee on TRANSPORTATION
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14	12
15	13		Introduced by:
16	14		(TRA)
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20	19		AN ACT AUTHORIZING B ONDS OF THE STATE FOR COMMERCIAL
21	20		RAIL FREIGHT LINE IMPROVEMENTS.
22	21		Be it enacted by the Senate and House of Representatives in General
23	22		Assembly convened:
24	23
25	24		Section 1. Section 13b-236 of the general statutes is repealed and the 1
26	25		following is substituted in lieu thereof (Effective July 1, 2019): 2
27	26		(a) For the purposes described in subsection (b) of this section, the 3
28	27		State Bond Commission shall have the power, from time to time to 4
29	28		authorize the issuance of bonds of the state in one or more series and 5
30	29		in principal amounts not exceeding in the aggregate [seven million five 6
31	30		hundred thousand] twenty million dollars. 7
32	31		(b) The proceeds of the sale of said bonds, to the extent of the 8
33	32		amount stated in subsection (a) of this section, shall be used by the 9
34	33		Department of Transportation for a program of competitive grants for 10
35	34		commercial rail freight lines operating in the state for improvements 11
36	35		and repairs to, and the modernization of, existing rail, rail beds and 12
37	36		related facilities. Such program shall include the following: (1) (A) 13
38		-	Grants of one hundred per cent of the amount necessary to improve, 14
39		-	repair or modernize state-owned rights of way, and (B) grants of 15 Raised Bill No. 868
	37	+	Grants of one hundred per cent of the amount necessary to improve, 14 Raised Bill No. 868
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	43	+	repair or modernize state-owned rights of way, and (B) grants of 15
46	44		seventy per cent of the amount necessary to improve, repair or 16
47	45		modernize privately owned rail lines, provided the commissioner may 17
48	46		waive the requirement for a thirty per cent matching grant if such 18
49	47		improvement, repair or modernization demonstrably increases rail 19
50	48		freight traffic; and (2) preference for grants shall be given to (A) 20
51	49		proposals that are on the Department of Transportation's list of freight 21
52	50		rail projects eligible to receive funds pursuant to P.L. 111-5, the 22
53	51		American Recovery and Reinvestment Act, (B) freight rail projects that 23
54	52		improve at-grade rail crossings to eliminate hazards or increase safety, 24
55	53		(C) freight rail projects that provide connection to major freight 25
56	54		generators, (D) projects that further the goals and objectives of the 26
57	55		Department of Transportation's Connecticut State Rail Plan, and (E) 27
58	56		freight rail projects that improve freight rail infrastructure by 28
59	57		increasing the capacity for rail freight traffic. 29
60	58		(c) All provisions of section 3-20, or the exercise of any right or 30
61	59		power granted thereby, which are not inconsistent with the provisions 31
62	60		of this section are hereby adopted and shall apply to all bonds 32
63	61		authorized by the State Bond Commission pursuant to this section, and 33
64	62		temporary notes in anticipation of the money to be derived from the 34
65	63		sale of any such bonds so authorized may be issued in accordance with 35
66	64		said section 3-20 and from time to time renewed. Such bonds shall 36
67	65		mature at such time or times not exceeding twenty years from their 37
68	66		respective dates as may be provided in or pursuant to the resolution or 38
69	67		resolutions of the State Bond Commission authorizing such bonds. 39
70	68		None of said bonds shall be authorized except upon a finding by the 40
71	69		State Bond Commission that there has been filed with it a request for 41
72	70		such authorization which is signed by or on behalf of the Secretary of 42
73	71		the Office of Policy and Management and states such terms and 43
74	72		conditions as said commission, in its discretion, may require. Said 44
75	73		bonds issued pursuant to this section shall be general obligations of the 45
76	74		state and the full faith and credit of the state of Connecticut are 46
77	75		pledged for the payment of the principal of and interest on said bonds 47
78		-	as the same become due, and accordingly and as part of the contract of 48
79		-	the state with the holders of said bonds, appropriation of all amounts 49 Raised Bill No. 868
	76	+	as the same become due, and accordingly and as part of the contract of 48 Raised Bill No. 868
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	82	+	the state with the holders of said bonds, appropriation of all amounts 49
86	83		necessary for punctual payment of such principal and interest is 50
87	84		hereby made, and the State Treasurer shall pay such principal and 51
88	85		interest as the same become due. 52
89	86		This act shall take effect as follows and shall amend the following
90	87		sections:
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92	89		Section 1 July 1, 2019 13b-236
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94		-
95		-	TRA Joint Favorable C/R FIN
	91	+	Statement of Purpose:
	92	+	To increase the amount of bond funds available for grants for
	93	+	commercial rail line improvements.
	94	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline,
	95	+	except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is
	96	+	not underlined.]
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