Sec. 2-27b. Review of bond acts.
Sec. 2-27b. Review of bond acts. (a) Each bond act, as defined in section 3-20,
shall be reviewed by the joint standing committee of the General Assembly having
cognizance of matters relating to state finance, revenue and bonding no later than five
years following the effective date of such act. Such review shall include, but not be
limited to, consideration of the amount expended prior to such review on any project
provided for in such act and the total cost for completion of such project. Said committee
may request whatever information is required to conduct such review from any state
official, board, commission or department and such information shall be provided to
said committee within fourteen days following receipt of such request. Upon completion
of its review, said committee shall recommend to the General Assembly whatever legislation it shall deem necessary with respect to such project.
(b) The Treasurer shall compute the aggregate amount of indebtedness in accordance with section 3-21 as of January first and July first each year and shall certify the
results of such computation to the Governor and the General Assembly. If the aggregate
amount of indebtedness so computed reaches ninety per cent of the limit set forth in
said section, the Governor shall review each bond act, as defined in section 3-20, for
which, at the time of such certification, no bonds, notes or other evidences of indebtedness have been issued, and recommend to the General Assembly priorities for repealing
authorizations for remaining projects. Such review shall include, but not be limited to,
consideration of the amount expended prior to such review on any such project and the
total cost for completion of such project. Such recommendations shall be referred to the
joint standing committee of the General Assembly having cognizance of matters relating
to capital bonding, which shall consider such recommendations. Said committee may
request whatever information is required to conduct such review from any state official,
board, commission or department and such information shall be provided to the committee within fourteen days following receipt of such request. Upon completion of its review, the committee shall propose whatever legislation it shall deem necessary with
respect to such project.
(P.A. 76-349, S. 2, 3; P.A. 79-31, S. 1, 17; June Sp. Sess. P.A. 91-3, S. 128, 168.)
History: P.A. 79-31 changed formal designation of finance committee; June Sp. Sess. P.A. 91-3 added Subsec. (b),
concerning times of computation, review by the governor if 90% of limit is reached and consideration of such review by
the general assembly.