Bill Text: CT HB05557 | 2011 | General Assembly | Introduced
Bill Title: An Act Concerning An Annual Review Of The State's General Obligation Debt.
Sponsorship: Partisan Bill (Democrat 2)
Status: (Introduced - Dead) 2011-01-20 - Referred to Joint Committee on Finance, Revenue and Bonding [HB05557 Detail]
Download: Connecticut-2011-HB05557-Introduced.html
General Assembly |
Proposed Bill No. 5557 |
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January Session, 2011 |
LCO No. 1024 | ||||
Referred to Committee on Finance, Revenue and Bonding |
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Introduced by: |
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REP. REYNOLDS, 42nd Dist. |
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AN ACT CONCERNING AN ANNUAL REVIEW OF THE STATE'S GENERAL OBLIGATION DEBT.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to require an annual review of the size and affordability of the state's general obligation debt. The Capital Debt Affordability Advisory Committee shall be established with appointments made by the Governor and legislative leaders, and shall be charged with completing such annual review and submitting it to the Governor, General Assembly and members of the State Bond Commission, along with an advisory report on the maximum amount of new long-term general obligation debt that prudently may be authorized for the next two fiscal years.
Statement of Purpose:
To reduce the state's indebtedness and its debt service obligations in the budget.