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CT SB00017

Bill

Official Source

Status

Introduced

2/5/2014

Primary Sponsor

Leonard Fasano

Click for details

Origin

Senate

2014 General Assembly

AI Summary

  • Amends subsection (f) of section 3-20 of the general statutes regarding bond proceeds handling
  • Directs net earnings, accrued interest, and premiums received on bonds to be used for additional payments on principal and interest of outstanding capital debt
  • Changes current practice of depositing these bond revenues into the General Fund
  • Creates long-term savings in the state's debt by redirecting bond revenue toward debt reduction

Legislative Description

An Act Concerning The Use Of Bond Proceeds To Reduce Bonded Indebtedness.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/5/2014

Committee Referrals

Finance, Revenue and Bonding2/5/2014

Full Bill Text

No bill text available