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State bill on municipal risk pools could force short‑notice assessments, towns warned
Summary
A recently introduced state bill (SB 297) would give state overseers new authority over municipal risk pools, including rapid assessments and receivership, a state representative told Brentwood officials — a change towns say could create sudden, unbudgeted costs for local governments and school districts.
Representative Eric (state representative) briefed Brentwood’s Budget Committee on SB 297, a proposal he said was drafted at the Secretary of State’s office and would change how municipal pooled risk-management programs operate.
He told the committee the bill would set liquidity thresholds for risk pools and allow state action — including orders to increase capitalization, assessments of member towns, or placing a pool into receivership — if those thresholds are breached. “One of the things they can do is ask the municipalities, within 30 days, to produce additional resources that are not budgeted for,” Representative Eric said.
The committee heard that the bill grew out of concern after a smaller interlocal…
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