AN ACT CONCERNING SIMULCASTING FACILITIES.

OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 ¯ (860) 240-0200

http: //www. cga. ct. gov/ofa

sHB-5545

AN ACT CONCERNING SIMULCASTING FACILITIES.

Agency Affected	Fund-Effect	FY 07 $	FY 08 $
Department of Revenue Services	GF - Revenue Gain	94,000	125,000

Municipalities	Effect	FY 07 $	FY 08 $
Various Municipalities	Revenue Gain	75,000	100,000

Explanation

The bill is anticipated to result in a revenue gain of approximately $94,000 in FY 07 (partial year) and $125,000 per subsequent year to the state and a revenue gain of $75,000 in FY 07 (partial year) and $100,000 per year and subsequent years to certain municipalities that have off-track betting facilities.

The licensee of the off-track betting system is required to pay to the state 3. 5% of the total money wagered of which the state retains 1. 9% and shares 1. 6% to the host municipalities.

The Out Years

The annualized ongoing fiscal impact identified above would continue into the future subject to inflation.