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SF 3343 Senate Long Description

Relating to public finance; expanding the definition of capital equipment for county capital notes issuance authority purposes to computer hardware and software and authorizing cities to issue capital notes for computer software; authorizing certain cities and towns to construct or improve gas and electric systems including generation, transmission and distribution facilities; increasing the debt limit of cities, counties and towns, authorizing borrowing for city halls, libraries or child care facilities and expanding authorized borrowing sources; setting a maturity limit on bonds issued by housing and redevelopment authorities (HRA) for corporate purposes and extending the maturity limit on bonds issued by economic development authorities; defining related public improvements for municipal industrial development purposes and authorizing counties, cities and towns to issue revenue bonds for the improvements, limiting the working capital amount; clarifying authority to issue bonds under industrial development provisions to refinance nonprofit facilities; exempting bonds issued to pay for reconstruction of streets from voter approval requirements under certain conditions, removing the restriction on the exemption from voter approval requirements for property tax abatement authority bonds and clarifying the exemption for bonds issued for county jails (ra)