Loading chat...

CT HB05032

Bill

Official Source

Status

Introduced

2/7/2014

Primary Sponsor

Brendan Sharkey

Click for details

Origin

House of Representatives

2014 General Assembly

AI Summary

  • Repeals and replaces Section 2-33a of the general statutes governing the state expenditure cap, effective from passage
  • Redefines the expenditure cap calculation to use the greater of the five-year average annual personal income increase or the twelve-month consumer price index increase, replacing previous methodology
  • Adds new definition that "evidences of indebtedness" includes expenditures above the annual required contributions for the teachers' retirement system and state employees retirement system
  • Appropriates $100,000,000 from the General Fund to State-Comptroller Fringe Benefits for State Employees Retirement Contributions for fiscal year ending June 30, 2014, as an additional payment above the annual required contribution
  • Maintains existing exemptions from the expenditure cap for debt service, federal mandate implementations, and statutory grants to distressed municipalities

Legislative Description

An Act Concerning The Expenditure Cap And Reducing Long-term Liabilities.

Last Action

File Number 580

4/16/2014

Committee Referrals

Appropriations2/7/2014

Full Bill Text

No bill text available