Bill Text: CT HB05518 | 2018 | General Assembly | Comm Sub

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Bill Title: An Act Protecting The Citizens' Election Fund.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2018-04-18 - Referred by House to Committee on Appropriations [HB05518 Detail]

Download: Connecticut-2018-HB05518-Comm_Sub.html

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General Assembly		Raised Bill No. 5518
February Session, 2018		LCO No. 2305
		*_____HB05518GAE___032618____*
Referred to Committee on GOVERNMENT ADMINISTRATION AND ELECTIONS
Introduced by:
(GAE)

AN ACT PROTECTING THE CITIZENS' ELECTION FUND.

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

Section 1. Section 9-750 of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(a) (1) If, [(1)] for the fiscal year ending June 30, 2006, or any fiscal year thereafter, the amount of funds available under section 3-69a for deposit in the Citizens' Election Fund established in section 9-701 is less than the amount of funds required under [said] section 3-69a to be deposited in said fund, resulting in an insufficiency in the amount of the deposit, [or (2) during an election cycle the amount of funds in the Citizens' Election Fund is less than the amount of funds required to provide grants to each qualified candidate committee pursuant to the provisions of this chapter, resulting in an insufficiency in said fund,] a portion of the revenues from the tax imposed under chapter 208, equal to the amount of any such insufficiency, [described in subdivision (1) or (2) of this section,] shall be deposited in said fund to allow for the payment of grants pursuant to the provisions of this chapter.

(2) If, during an election cycle, the amount of funds in the Citizens' Election Fund is less than the amount of funds required to provide grants to each qualified candidate committee pursuant to the provisions of this chapter, resulting in an insufficiency in said fund, the cash portion of property unclaimed or presumed abandoned under part III of chapter 32, equal to the amount of any such insufficiency, shall be deposited in said fund to allow for the payment of grants pursuant to the provisions of this chapter.

(b) Notwithstanding the provisions of section 3-69a, if funds are deposited into the Citizens' Election Fund pursuant to the provisions of subdivision [(2)] (1) of subsection (a) of this section, the aggregate amount of any such deposits shall be deducted from the amount deposited into said fund under section 3-69a for the following fiscal year.

This act shall take effect as follows and shall amend the following sections:
Section 1	from passage	9-750

GAE

Joint Favorable