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CT SB00485
Bill
Status
Introduced
3/25/2022
Primary Sponsor
Finance, Revenue and Bonding Committee
Click for details
AI Summary
- State Bond Commission authorized to issue up to $20 million in bonds, effective July 1, 2022
- Bond proceeds distributed by Department of Education as grants-in-aid to Capitol Region Education Council for capital improvements to interdistrict magnet schools
- Capital improvements defined as fixing defects, creating additions or expansions, increasing capacity or efficiency, rebuilding after economic useful life, replacing major components, or adapting property to new uses
- Bonds mature within 20 years with full faith and credit of the state pledged for principal and interest payments
- Capitol Region Education Council board required to maintain rolling three-year capital improvement plan submitted annually to relevant legislative committees by January 1, 2023, and adopt long-range capital priorities plan every five years starting January 1, 2023
Legislative Description
An Act Authorizing Bonds Of The State For Capital Improvements To Interdistrict Magnet Schools Operated By The Capitol Region Education Council.
Last Action
File Number 567
4/21/2022
Committee Referrals
Finance, Revenue and Bonding3/25/2022
Full Bill Text
No bill text available