Bill Text: CT HB05135 | 2010 | General Assembly | Introduced
Bill Title: An Act Concerning Reforms To The Bonding Authorization Process.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2010-02-10 - Referred to Joint Committee on Finance, Revenue and Bonding [HB05135 Detail]
Download: Connecticut-2010-HB05135-Introduced.html
General Assembly |
Proposed Bill No. 5135 |
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February Session, 2010 |
LCO No. 367 | ||||
Referred to Committee on Finance, Revenue and Bonding |
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Introduced by: |
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REP. CAFERO, 142nd Dist. REP. HAMZY, 78th Dist. REP. KLARIDES, 114th Dist. |
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AN ACT CONCERNING REFORMS TO THE BONDING AUTHORIZATION PROCESS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to: (1) Require the Finance, Revenue and Bonding Committee to deauthorize at least two hundred million dollars in current bond authorizations, including any and all authorizations made prior to January 1, 2005; (2) authorize one hundred fifty million dollars for projects that will create permanent jobs and foster economic growth in the areas of alternative energy sources and fuel cell industry development, government efficiency, a no-interest revolving loan fund for small businesses to assist in the purchase of necessary inventory or production material, and investment in virtual learning; (3) require the Finance, Revenue and Bonding Committee to develop criteria to follow for all future bond authorizations, including, but not limited to, the use of competitive grant processes, prioritizing projects in the areas of public safety, transportation, public health and welfare and technology, and promoting job growth and economic development; and (4) sunset any projects that are not allocated by the State Board Commission within five years of being authorized.
Statement of Purpose:
To reduce the level of bonding, provide targeted funding for economic growth and create a new system with criteria for authorizing and allocating bonding projects that will stimulate job growth and economic development.