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 Section 13b-236 of the general statutes is repealed and the 1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