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.

AMENDMENT

LCO No.: 8720

File Copy No.: 868

Senate Calendar No.: 561

OFA Fiscal Note

State Impact: None

Municipal Impact:

Municipalities

Effect

FY 08 $

FY 09 $

Municipal entities

Savings

See Below

See Below

Explanation

Under current law, municipal entities (districts, municipal utilities, regional planning agencies, etc.) whose annual receipts are less than $200, 000 do not have to file annual audit reports with the Office of Policy and Management. The amendment raises this threshold to $1, 000, 000.

This will result in an annual saving to municipal entities with receipts of between $200, 000 and $1, 000, 000 because these entities will no longer have to pay for the cost of an audit.

The amendment also clarifies the language of the file copy, which has no fiscal impact.

The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose.