OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-318
AN ACT CONCERNING USED AUTOMOBILE WARRANTIES.
OFA Fiscal Note
Agency Affected |
Fund-Effect |
FY 14 $ |
FY 15 $ |
Judicial Dept. |
GF - Revenue Gain |
less than 5,000 |
less than 5,000 |
Explanation
The bill results in a potential revenue gain of less than $5,000 to the General Fund due to an anticipated ten additional cases per year which may result in license suspension or a civil penalty. The bill increases the age and monetary value of used vehicles for which motor vehicle dealers must provide express warranties. The bill also increases the age of a motor vehicle that dealers can sell in “as is” condition.
The Out Years
The annualized ongoing fiscal impact identified above would continue into the future subject to inflation.