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.: 8666

House Calendar No.: 678

Senate Calendar No.: 692


OFA Fiscal Note

State Impact: See Below

Municipal Impact: None

Explanation

The amendment alters the period for which the increase in inflation is measured for spending cap purposes from 12 months to 24 months.

For illustrative purposes, using the current 12-month period, the increase in inflation for the FY 13 Revised Budget is 2.98%; under the alternative 24-month period, the increase in inflation is 4.56%.

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.