OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

HB-6466

AN ACT CONCERNING PROJECTS OF REGIONAL SIGNIFICANCE.

AMENDMENT

LCO No.: 6868

File Copy No.: 449

House Calendar No.: 299

OFA Fiscal Note

State Impact:

Account Affected

Fund-Effect

FY 10 $

FY 11 $

Land Protection, Affordable Housing, and Historic Preservation Account

SF - Revenue Gain

See Below

See Below

Note: SF=Special Fund (Non-appropriated)

Municipal Impact:

Municipalities

Effect

FY 10 $

FY 11 $

Various Municipalities

Revenue Gain

See Below

See Below

Explanation

The amendment makes changes to the land protection, affordable housing and historic preservation account and will result in an annual net revenue gain to the state of approximately $4.15 million. The amendment also changes how the funding in this account is distributed to various agencies, as identified in the table below1.

Land Protection, Affordable Housing, Historic Preservation Account Revenues

 

Actual

 

Proposed

 

Revenue

Agency

FY 08

 

Amendment

 

Change

DECD

-

 

4, 426, 964

 

4, 426, 964

CCT

4, 496, 135

 

4, 426, 964

 

-69, 171

CHFA

4, 496, 135

 

4, 426, 964

 

-69, 171

DAG

4, 496, 135

 

4, 426, 964

 

-69, 171

DEP

4, 496, 135

 

4, 426, 964

 

-69, 171

TOTAL

17, 984, 540

 

22, 134, 818

 

4, 150, 278

The amendment also increases, from $1 to $2, the portion of the land recording fee provided to town clerks. Based on FY 08 data, this is anticipated to result in total revenue gain to various municipalities of approximately $692, 000.

Sources:

Core-CT Financial Accounting System

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. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.

1 Commission on Culture and Tourism (CCT) , Connecticut Housing Finance Authority (CHFA) , Department of Agriculture (DAG) , Department of Environmental Protection (DEP) , Department of Economic and Community Development (DECD)