SB 1035
Limits investment firm and law firm support in general obligation bond elections
LR Number:
Last Action:
4/24/2006 - SCS Voted Do Pass S Financial & Governmental Organizations and Elections Committee (4890S.04C)
Journal Page:
Calendar Position:
Effective Date:
August 28, 2006

Current Bill Summary

SCS/SB 1035 - Currently, investment firms, law firms offering bond counsel services, or persons having interest in such firms are barred from being involved in the issuance of bonds authorized by an election in which the firm or person made any contribution in support of the bond election.

This act requires investment firms offering municipal bond underwriting of financial advisory services, law firms offering bond counsel services, and a person with an interest in such a firm to limit participation in campaigns in support of general obligation bond election to activities that do not involve any direct or indirect financial contributions.