OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

HB-6412

AN ACT CONCERNING THE SMALL TOWN ECONOMIC ASSISTANCE PROGRAM.

As Amended by House "A" (LCO 6510)

House Calendar No. : 133

OFA Fiscal Note

State Impact: None

Municipal Impact: None

Explanation

The bill has no fiscal impact because it does not authorize any additional General Obligation (GO) bonds. Allocations for the Small Town Economic Assistance Program (STEAP) made through the State Bond Commission are shown in the table below. The unallocated balance for the STEAP program as of March 18, 2011 is $20 million.

State Bond Commission Allocations for STEAP

Fiscal Year

Amount

FY 02

$ 20 million

FY 03

$ 20 million

FY 05

$ 20 million

FY 06

$ 20 million

FY 07

$ 20 million

FY 08

$ 20 million

FY 10

$ 20 million

FY 11

$ 20 million

Total

$ 160 million

House “A” clarifies the total STEAP grant-in-aid amount that may be received in one year by: (1) a group of municipalities and (2) a municipality that is a member of a group. This has no fiscal impact because it does not authorize additional GO bonds for the STEAP program.

The Out Years

State Impact: None

Municipal Impact: None