Raised Bill No. 474 Summary

• Modifies debt calculation for the Metropolitan District by allowing refunded or replaced bonds with escrowed funds to be deducted from total outstanding indebtedness, enabling consecutive bond issues to count as one for indebtedness limits.

• Requires the Auditors of Public Accounts to conduct annual audits of the Metropolitan District's books and accounts, replacing previous biennial audit provisions.

• Grants voting rights on water rate approvals to commissioners appointed from nonmember towns (Glastonbury, South Windsor, East Granby, and Farmington) effective July 1, 2020.

• Establishes a 19-member task force to review the district's organization and operations, including water rate procedures, Public Utilities Regulatory Authority oversight potential, and governance structure, with findings due by January 1, 2021.

• Requires the Metropolitan District Commission to pay $1,250,000 to Riverfront Recapture, Inc. in 2020, then incrementally reduce annual payments by equal amounts to $600,000 starting in 2025.