TO: | Honorable Burt R. Solomons, Chair, House Committee on Financial Institutions |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB3552 by Orr (Relating to the issuance of private activity bonds. ), Committee Report 1st House, Substituted |
The bill expands the definition of eligible facilities under the private activity bond program to include both rehabilitation projects and new construction. The bill also amends the board's authority to grant reservations in the order in which the applications for those reservations are received regardless of the amounts of the related bond issues. The bill would eliminate the requirement for the presiding officer or authorized officer of local political subdivisions to sign a carryforward designation.
Source Agencies: | 352 Bond Review Board
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LBB Staff: | JOB, JRO, JW
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