AN ACT CONCERNING OVERSIGHT OF LARGE CAPITAL PROJECTS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective July 1, 2012) (a) The chief administrative officer of the department or agency of the state who shall be responsible for any capital project that has an estimated cost of fifty million dollars or more and will receive any portion of its funding from the proceeds of bonds issued under the provisions of section 3-20 of the general statutes shall:

(1) Develop a detailed oversight plan for such project, including estimates of required capital outlays, future annual operating expenses, and additional state revenues that may be generated by such project; and

(2) Enter into a contract with a private nongovernmental entity to perform an independent analysis of such project, including all estimates required by subdivision (1) of this subsection, and an examination of comparable investments that would be an alternative to such project.

(b) (1) The chief administrative officer of the department or agency of the state shall submit the plan and analysis required pursuant to subsection (a) of this section to the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding, and the joint standing committee of the General Assembly that has cognizance over such project, if any. Each such committee shall conduct a public hearing and meeting to vote on such project not earlier than three days after the date of receipt of such plan and analysis, nor later than thirty days after the date of receipt of such plan and analysis. Each such committee may request that any other information pertinent to such project also be submitted for purposes of the public hearing and committee meeting.

(2) The vote taken by each such committee on such project shall be to approve or disapprove such project as a whole.

(c) If such project receives a favorable vote from each such committee, the General Assembly may approve such project as a whole by a majority vote of each house, or may reject such project as a whole by a majority vote of either house. If the General Assembly is in session, it shall vote to approve or reject such project not later than thirty days after the favorable vote by each such committee. If the General Assembly is not in session when such vote or votes are taken, such project shall be submitted to the General Assembly not later than ten days after the first day of the next regular session or special session called for such purpose.

(d) If such project is approved as provided in this section, such project shall appear as a separate item on the agenda of the State Bond Commission, when said commission meets to consider such project.

(e) The requirements of this section are in addition to, and not in lieu of, any other requirements of the general statutes relating to planning and development of capital projects, authorization of capital projects by the General Assembly and consideration of and voting on such capital projects by the State Bond Commission.

Statement of Purpose:

To establish legislative oversight of capital projects that cost fifty million dollars or more.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]