OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-5600

AN ACT CONCERNING CONNECTICUT GLOBAL WARMING SOLUTIONS.

AMENDMENT

LCO No.: 5092

File Copy No.: 582

House Calendar No.: 75

OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 09 $

FY 10 $

Department of Transportation

TF - Cost

160, 000

170, 000

Comptroller Misc. Accounts (Fringe Benefits) 1

TF - Cost

80, 000

85, 000

Treasurer, Debt Serv.

GF - Cost

See Below

See Below

Note: TF=Transportation Fund; GF=General Fund

Municipal Impact: None

Explanation

There will be an on-going cost of $240, 000 beginning in FY 09 to the Department of Transportation (DOT) to develop and implement a fuel cell program. The DOT will require two Junior Transportation Planners at a cost of $50, 000 each plus fringes1 and one Senior Transportation Planner at a cost of $60, 000 plus fringes1 to implement provision of the amendment.

The amendment authorizes $200 million in General Obligation (GO) bonds to DOT for the fuel cell program. The total General Fund debt service cost for principal and interest payments on this amount over 20 years, assuming a 5.0% interest rate, is $305 million. The first year that the state will experience costs associated with the bonds depends on when they are allocated through the State Bond Commission and when they are expended.

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.

1 The fringe benefit costs for state employees are budgeted centrally in the Miscellaneous Accounts administered by the Comptroller. The first year fringe benefit costs for new positions do not include pension costs. The estimated first year fringe benefit rate as a percentage of payroll is 25.36%. The state's pension contribution is based upon the prior year's certification by the actuary for the State Employees Retirement System (SERS) . The SERS fringe benefit rate is 33.27%, which when combined with the rate for non-pension fringe benefits totals 58.63%.