OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-6316

AN ACT CONCERNING THE STATE PURCHASE OF DEVELOPMENT RIGHTS FOR AGRICULTURAL LAND PRESERVATION AND CERTAIN REVISIONS TO THE COMMUNITY FARMS PROGRAM.


OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 14 $

FY 15 $

Department of Agriculture

GO Bonds - Potential Cost

See Below

See Below

Municipal Impact: None

Explanation

The bill allows the Department of Agriculture (DAG) to enter into joint ownership agreements with certain nonprofits for the acquisition of agricultural development rights. To this extent, there may be increased General Obligation (GO) bond costs for the Farmland Preservation program administered by DAG. In FY 13, there is an unallocated balance of $5.0 million for the Farmland Preservation program, and $10.0 million proposed in the Governor's recommended budget for both FY 14 and FY 15.

The Out Years

The annualized ongoing fiscal impact identified above would continue into the future subject to any development rights purchased.