OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sSB-1440

AN ACT CONCERNING THE SPECIAL TAXING DISTRICTS WITHIN REDDING AND BRIDGEPORT AND THE AUTHORITY OF SPECIAL SERVICES DISTRICTS TO BORROW MONEY.

OFA Fiscal Note

State Impact: None

Municipal Impact:

Municipalities

Effect

FY 08 $

FY 09 $

Various Municipalities

See Below

See Below

See Below

Explanation

The bill:

1. Extends from 1 to 7 years the amount of time that special services districts have to repay their debt obligations. This has no state or municipal fiscal impact because the debt of such districts are not a direct or contingent liability of either entity.

2. Clarifies the provisions of SA 05-14. This has no fiscal impact to the State of Connecticut or the Town of Redding because the revenue bonds referred to in the bill are not a direct or contingent liability of either entity.

3. Adjusts the boundaries of a special taxing district in Bridgeport. This has no state fiscal impact.

The Out Years

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