H755 - Bankruptcy Amendments

• Expands Chapter 9 bankruptcy relief authorization to correction enterprises (with Department of Public Safety approval), local school administrative units (with State Board of Education approval), and community colleges (with State Board of Community Colleges approval), in addition to existing taxing districts, counties, and municipalities.

• Allows governmental units denied bankruptcy approval to appeal the denial decision to superior court, which shall review whether the decision is arbitrary or capricious.

• Permits authorized governmental units to use or borrow additional working capital pursuant to a bankruptcy court-confirmed plan of adjustment or court order.

• Updates references throughout the General Statutes from outdated bankruptcy terminology (such as "referee in bankruptcy" and "Federal Bankruptcy Act") to current Title 11 of the United States Code language.

• Modifies procedures for recording bankruptcy documents, filing proofs of claim, and enforcing liens in bankruptcy proceedings to reference current federal bankruptcy law and procedures.