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Substitute House Bill No. 6486

Public Act No. 03-133

AN ACT IMPLEMENTING THE RECOMMENDATIONS OF THE LEGISLATIVE PROGRAM REVIEW AND INVESTIGATIONS COMMITTEE CONCERNING THE CONNECTICUT RESOURCES RECOVERY AUTHORITY AND OTHER QUASI-PUBLIC AGENCIES.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective July 1, 2003) Not later than three years before the last maturity date of any outstanding bond issuance for a waste management project, as defined in section 22a-260 of the general statutes, administered by the Connecticut Resources Recovery Authority, the board of directors of the authority shall establish a special committee for such project consisting of five representatives of the authority and not more than five representatives jointly designated by the municipalities having a contract with the authority for such project. At least two years before such last maturity date, such special committee shall study and present to said board of directors options for disposing of solid waste from such municipalities after the expiration of such contract. Such options shall include, but shall not be limited to, private sector management of such solid waste disposal.

Sec. 2. Section 1-122 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2004):

The [board of directors of each quasi-public agency] Auditors of Public Accounts shall annually [contract with a person, firm or corporation for] conduct a compliance audit of [the] each quasi-public agency's activities during the preceding agency fiscal year [. The] or contract with a person, firm or corporation for any such audit or audits. Each such audit shall determine whether the quasi-public agency has complied with its regulations concerning affirmative action, personnel practices, the purchase of goods and services, the use of surplus funds and the distribution of loans, grants and other financial assistance. [The] Each audit shall include a review of all or a representative sample of the agency's activities in such areas during such fiscal year. The [board] Auditors of Public Accounts shall submit [the] each audit report to the Governor [, the Auditors of Public Accounts] and two copies of the audit report to the Legislative Program Review and Investigations Committee. Not later than thirty days after receiving copies of an audit report from the Auditors of Public Accounts, the Legislative Program Review and Investigations Committee shall prepare an assessment of whether the audit report complies with the requirements of this section and shall submit the assessment and a copy of the audit report to the joint standing committee of the General Assembly having cognizance of matters relating to the quasi-public agency. Each quasi-public agency shall pay the cost of conducting such annual compliance audit of the agency.

Sec. 3. Section 1-123 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2004):

The board of directors of each quasi-public agency shall annually submit a report to the Governor [,] and the Auditors of Public Accounts and two copies of such report to the [joint standing committee of the General Assembly having cognizance of matters relating to the quasi-public agency] Legislative Program Review and Investigations Committee. Such report shall include, but not be limited to, the following: (1) A list of all bond issues for the preceding fiscal year, including, for each such issue, the financial advisor and underwriters, whether the issue was competitive, negotiated or privately placed, and the issue's face value and net proceeds; (2) a list of all projects other than those pertaining to owner-occupied housing or student loans receiving financial assistance during the preceding fiscal year, including each project's purpose, location, and the amount of funds provided by the agency; (3) a list of all outside individuals and firms receiving in excess of five thousand dollars in the form of loans, grants or payments for services, except for individuals receiving loans for owner-occupied housing and education; (4) a balance sheet showing all revenues and expenditures; (5) the cumulative value of all bonds issued, the value of outstanding bonds, and the amount of the state's contingent liability; (6) the affirmative action policy statement, a description of the composition of the agency's work force by race, sex, and occupation and a description of the agency's affirmative action efforts; and (7) a description of planned activities for the current fiscal year. Not later than thirty days after receiving copies of such report from the board of a quasi-public agency, the Legislative Program Review and Investigations Committee shall prepare an assessment of whether the report complies with the requirements of this section and shall submit the assessment and a copy of the report to the joint standing committee of the General Assembly having cognizance of matters relating to the quasi-public agency.

Sec. 4. (NEW) (Effective July 1, 2003) No quasi-public agency, as defined in section 1-120 of the general statutes, shall contract with the same person, firm or corporation to conduct financial audits of such agency for more than six consecutive fiscal years of the agency. The provisions of this section shall apply to fiscal years of quasi-public agencies beginning on or after July 1, 2003.

Approved June 26, 2003