Bill Status of SB2467 99th General Assembly
Short Description: CDB-FEDERAL FUNDS
Sen. Iris Y. Martinez - Matt Murphy, Dale A. Righter and John G. Mulroe
(Rep. Tim Butler - William Davis, John M. Cabello, John D. Anthony, Al Riley, Daniel J. Burke and Anthony DeLuca)
|Session Sine Die
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the General Obligation Bond Act. Provides that the unused portion of federal funds received for or as reimbursement for a capital facilities project (currently, the unused portion of federal funds received for a capital facilities project) shall remain in the Capital Development Board Contributory Trust Fund. Removes a provision providing that any federal funds received as reimbursement for the completed construction of a capital improvement project shall be deposited in the Capital Development Bond Retirement and Interest Fund. Amends the Capital Development Bond Act of 1972. Makes conforming changes. Effective immediately.