Bill Text: CT SB00012 | 2016 | General Assembly | Comm Sub
Bill Title: An Act Adopting A Recommendation Of The Transportation Finance Group.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced - Dead) 2016-04-19 - File Number 671 [SB00012 Detail]
Download: Connecticut-2016-SB00012-Comm_Sub.html
General Assembly |
Substitute Bill No. 12 | |
February Session, 2016 |
*_____SB00012FIN___040816____* |
AN ACT ADOPTING A RECOMMENDATION OF THE TRANSPORTATION FINANCE GROUP.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective from passage) (a) There is established an account to be known as the "Transportation Excess Surplus account" which shall be a separate, nonlapsing account within the Special Transportation Fund. The account shall contain any moneys required by law to be deposited in the account. Moneys in the account shall be expended by the Commissioner of Transportation, with the approval of the Secretary of the Office of Policy and Management, for the payment of transportation costs, as defined in section 13b-75 of the general statutes.
(b) At the end of each fiscal year commencing with the fiscal year ending June 30, 2017, after the accounts for the Special Transportation Fund have been closed for the fiscal year and the Comptroller has determined the amount of unappropriated surplus in said fund, the Comptroller shall transfer such unappropriated surplus in excess of fifteen per cent of total expenditures for the most recently completed fiscal year to the Transportation Excess Surplus account within the Special Transportation Fund.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
from passage |
New section |
Statement of Legislative Commissioners:
In Section 1(a), "will" was changed to "shall" for statutory consistency and in Section 1(b), "and each fiscal year thereafter," was deleted to avoid repetition.
FIN |
Joint Favorable Subst. -LCO |