Be it enacted by the Senate and House of Representatives in General Assembly convened:
*Section 1. Subsection (b) of section 7-528 of the general statutes is repealed and the following is substituted in lieu thereof:
*(Revisors' note: The original engrossed bill incorrectly cited "Subdivision (1) of subsection (b) of section 7-528 ...".)
(b) (1) On March thirty-first, annually, from March 31, 1988, to [March 31, 1997] MARCH 31, 1991, inclusive, forty-two million dollars shall be paid from the Local Property Tax Relief Trust Fund established under section 7-526 to municipalities in the form of grants for the unrestricted use of the municipalities. The Secretary of the Office of Policy and Management shall in February of each year calculate the amount due each municipality in accordance with the formula provided in subsection (c) of this section and shall certify to the Comptroller the amount due. (2) On or before March first, annually, from March 1, 1988, to [March 1, 1997] MARCH 31, 1991, inclusive, there shall be transferred from the General Fund such sums, if any, as shall be certified by the secretary to the State Treasurer as necessary to enable the state to pay the full amount from the Local Property Tax Relief Trust Fund to municipalities each year as required under THIS subdivision [(1) of this subsection] without a premature liquidation of long-term investments entered into prior to July 1, 1987. Any such sum or sums shall be repaid from the Local Property Tax Relief Trust Fund to the General Fund as soon as the liquidity of trust fund assets permits. UP TO ONE HUNDRED THOUSAND DOLLARS IN THE PROPERTY TAX RELIEF FUND SHALL BE TRANSFERRED TO THE GENERAL FUND NOT LATER THAN JULY 1, 1996. THE AMOUNT SO TRANSFERRED SHALL BE CREDITED TO THE APPROPRIATION FOR THE OFFICE OF POLICY AND MANAGEMENT FOR USE IN FUNDING STUDIES REQUIRED OF SAID OFFICE PURSUANT TO LEGISLATION ENACTED DURING THE FEBRUARY, 1996, REGULAR SESSION OF THE GENERAL ASSEMBLY, INCLUDING, BUT NOT LIMITED TO, (A) ANY ACTIVITIES OF A TASK FORCE INSTITUTED TO STUDY MUNICIPAL RETIREMENT PLANS OR (B) ANY ACTIVITIES OF A TASK FORCE CREATED TO REDUCE PAPERWORK MANDATES ON MUNICIPALITIES.
Sec. 2. Subsection (b) of section 10a-105 of the general statutes, as amended by section 28 of public act 95-230, is repealed and the following is substituted in lieu thereof:
(b) The Board of Trustees of The University of Connecticut shall establish and administer a fund to be known as The University of Connecticut Operating Fund, and in addition, may establish a Special External Gift Fund, and an Endowment Fund, as defined in section 10a-109c, and such other funds as may be established pursuant to subdivision (13) of subsection (a) of section 10a-109d. Appropriations from general revenues of the state [except the amount of the appropriation for operating expenses to be used for personal services] and UPON REQUEST BY THE UNIVERSITY AND WITH AN ANNUAL REVIEW AND APPROVAL BY THE SECRETARY OF THE OFFICE OF POLICY AND MANAGEMENT, THE AMOUNT OF the appropriations for fringe benefits AND WORKERS COMPENSATION APPLICABLE TO THE UNIVERSITY pursuant to subsection (a) of section 4-73, SHALL BE TRANSFERRED FROM THE COMPTROLLER and all tuition revenue received by the university in accordance with the provisions of subsection (a) of this section, income from student fees or related charges, the proceeds of auxiliary activities and business enterprises, gifts and donations, federal funds and grants for purposes other than research and all receipts derived from the conduct by The University of Connecticut of its education extension program and its summer school session, except funds received by The University of Connecticut Health Center, shall be deposited in said operating fund. IF THE SECRETARY OF THE OFFICE OF POLICY AND MANAGEMENT DISAPPROVES SUCH TRANSFER, HE MAY REQUIRE THE AMOUNT OF THE APPROPRIATION FOR OPERATING EXPENSES TO BE USED FOR PERSONAL SERVICES AND FRINGE BENEFITS TO BE EXCLUDED FROM SAID FUND. THE STATE TREASURER SHALL REVIEW AND APPROVE THE TRANSFER PRIOR TO SUCH REQUEST BY THE UNIVERSITY. All costs of waiving or remitting tuition pursuant to subsection (e) of this section, except the cost of waiving or remitting tuition for students enrolled in the schools of medicine or dental medicine, shall be charged to said fund. Repairs, alterations or additions to facilities supported by said fund costing one million dollars or more shall require the approval of the General Assembly, or when the General Assembly is not in session, of the Finance Advisory Committee. Any balance of receipts above expenditures shall remain in said fund, except such sums as may be required for deposit into a debt service fund or the General Fund for further payment by the Treasurer of debt service on general obligation bonds of the state issued for purposes of The University of Connecticut.
Sec. 3. This act shall take effect July 1, 1996.
Approved June 6, 1996. Effective July 1, 1996.