AN ACT RELATING TO TAXATION -- SALES AND USE TAXES -- LIABILITY AND COMPUTATION

2025 Regular Session Introduced by Doc Corvese and 9 co-sponsors

Authorizes state bonds to fund Thomaston's Jackson Street water line, enabling construction and improving local water service reliability.

05/21/2025 Committee recommended measure be held for further study

Overview

HB 5405 is a state bonding bill titled: “AN ACT AUTHORIZING BONDS OF THE STATE FOR THE CONSTRUCTION OF A WATER LINE ON JACKSON STREET IN THE TOWN OF THOMASTON.” The bill seeks authority to issue state bonds to finance the construction of a water line on Jackson Street in Thomaston. Its status indicates it is being considered by committees and has related companion measures.

Bill Number: HB 5405

Title: Bond authorization for the Thomaston water line

Purpose: To authorize the issuance of state bonds to fund the construction of a water line in Thomaston

Companions: SB 830 and HB 4084 (companion measures)

Purpose and Intent

The core intent is to provide state-backed financing to support a local water infrastructure project in Thomaston, specifically the installation or upgrade of a water line on Jackson Street.

By authorizing bonds, the bill aims to facilitate timely construction and potential improvements to water service reliability and capacity in the town.

Key Provisions ( High-Level, based on bill title)

Authorization of state bonds designated for a specific project: construction of the Jackson Street water line in Thomaston.

The bill would specify that bond proceeds are to be used for eligible project costs related to the water line (e.g., design, land, construction, related infrastructure improvements).

Mechanisms for bond issuance, repayment, and debt service would typically be included, potentially involving the state's debt management or bonding authority.

Any related administrative or oversight requirements (e.g., reporting, compliance with state financial standards) would be expected, though exact details require the bill text.

Who Is Affected

Local Government: Town of Thomaston (recipient or beneficiary of the water line project and related improvements).

Residents and businesses in Thomaston served by the Jackson Street water line (beneficiaries of improved water infrastructure).

State authorities involved in bond issuance and debt service (e.g., finance, revenue, and bonding entities).

Stakeholders exploring companion bills (SB 830, HB 4084) for parallel or related financing.

Procedural and Timeline Aspects

Introduced: March 14, 2025

Initial Referral: Joint Committee on Finance, Revenue and Bonding

Other actions: Referrals and procedural actions noted (e.g., Read first time, referrals to Intergovernmental Affairs) with dates in April 2025

Companions: SB 830 and HB 4084 referenced for similar or related authorization

Potential Impacts and Considerations

Economic/Infrastructure Impact: Accelerates funding for a local water infrastructure project, improving water delivery and long-term reliability.

Fiscal Impact: Bond issuance would create a debt obligation; debt service terms, duration, and funding source would be defined in the bill or subsequent implementing acts.

Oversight: Expected requirements for project tracking, reporting, and compliance with state financial and procurement rules.

Notes for Readers

The summary reflects bill title, status, and the available metadata. Specifics such as the authorized bond amount, repayment terms, interest rate, and project milestones would appear in the full text of HB 5405 and any associated fiscal notes. Readers should review the bill text and fiscal impact statements for precise figures and conditions.

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