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.), As Introduced
No fiscal implication to the State is anticipated.
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 Governor or corresponding mayor to sign a carryforward designation.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.