Government Finance and Operations 04/05/2013
SB 181 (Committee on Governance and Finance) – Support
As Introduced on February 6, 2013
SB 181 and SB 182, both by the Senate Governance and Finance Committee, would retroactively cure the minor errors and omissions that public officials make, giving investors confidence in public agencies’ securities and therefore leading to lower interest rates for state and local bonds. The bills do not correct fraud, corruption, or unconstitutional acts. These “validating acts” are traditionally noncontroversial and receive “aye” votes from all legislators, since with their passage everyone wins.
The Senate Appropriations Committee will be considering SB 181 and SB 182 at its hearing on April 8.