OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

HB-6704

AN ACT CONCERNING EXPENDITURES AND REVENUE FOR THE BIENNIUM ENDING JUNE 30, 2015.

AMENDMENT

LCO No.: 8594

House Calendar No.: 678


OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 14 $

FY 15 $

Revenue Serv., Dept.

GF - Revenue Loss

$6.2 million

$24.2 million

Various State Agencies

GF - Savings

$25.225 million

$81.150 million

Municipal Impact: None

Explanation

The amendment eliminates the transfer of Clean Energy Finance and Investment Authority to the General Fund. This results in a General Fund revenue loss of $6.2 million in FY 14 and $24.2 million in FY 15.

The amendment requires the Office of Policy and Management to recommend Personal Services reductions of $25.225 million in FY 14 and $81.150 million in FY 15, associated with adopting a 75% refill rate for certain vacancies.

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.