Prohibits the recommendation and approval of line of credit recommendations for certain capital outlay projects (OR SEE FISC NOTE)
Impact
If enacted, HB 686 would significantly alter the landscape of capital outlay financing in the state. By imposing these restrictions, the bill seeks to ensure that state funds are allocated judiciously, focusing on projects that have demonstrated a need for completion and sustainability. This could lead to more effective management of state resources as the approval process becomes more stringent, thereby potentially preventing inefficient spending on unnecessary projects.
Summary
House Bill 686, proposed by Representative Richard, aims to restrict the recommendation and approval of line of credit recommendations for certain capital outlay projects during the fiscal years 2016-2017 and 2017-2018. The bill prohibits the division of administration from recommending and the State Bond Commission from approving new capital outlay projects that have not previously received funding, regardless of their financing means. Additionally, approvals for additional funding for existing projects that are not necessary for their completion are also banned under this legislation.
Sentiment
The sentiment around HB 686 appears to be cautiously supportive among some legislators who advocate for responsible fiscal management. They view the bill as a proactive measure to safeguard public funds. However, there are concerns from various stakeholders regarding the potential implications of restricting funding, especially for new initiatives that might be crucial for state development and community needs. This bipartisan concern indicates a balanced sentiment where financial prudence is weighed against potential growth and opportunity loss.
Contention
Notable points of contention include the bill's restrictive nature, which some argue could stifle necessary developments that require funding upfront. Critics fear that the prohibition of funding for new projects could hinder advancements in public infrastructure and other essential services. Additionally, there are concerns about the definition and interpretation of what constitutes 'necessary' funding for existing projects, as this could lead to ambiguity and potential misuse of the provisions outlined in the bill.
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for nonstate entity projects (EG NO IMPACT GF EX See Note)
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for state and nonstate entity projects (EG NO IMPACT GF EX See Note)
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for state and nonstate entity projects (EG NO IMPACT GF EX See Note)
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for nonstate entity projects (OR NO IMPACT GF EX See Note)
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for state and nonstate entity projects (OR NO IMPACT GF EX See Note)
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for nonstate entity projects (EG NO IMPACT GF EX See Note)
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for non-state entity projects (OR NO IMPACT GF EX See Note)
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for state and nonstate entity projects (RE NO IMPACT GF EX See Note)
Requires the Joint Legislative Committee on Capital Outlay to approve line of credit recommendations for nonstate entity projects (RE NO IMPACT GF EX See Note)