OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

HB-6706

AN ACT IMPLEMENTING PROVISIONS OF THE STATE BUDGET FOR THE BIENNIUM ENDING JUNE 30, 2015 CONCERNING GENERAL GOVERNMENT.

AMENDMENT

LCO No.: 8942


OFA Fiscal Note

SEE BELOW

The amendment does not allow businesses relocating within the state to be eligible for the First Five program. To the extent this provision eliminates the eligibility of a particular project or projects in the First Five program, there may be a potential savings to the state for the various funds supporting the program. The provision may also preclude a revenue loss pertaining to tax credits that would otherwise be awarded to such projects.

The amendment also requires the General Assembly to conduct a public hearing on any recommended financial assistance in excess of ten million. There is no fiscal impact to this provision.

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.