OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
AN ACT CONCERNING AN AGREEMENT AMONG THE STATES TO ELECT THE PRESIDENT OF THE UNITED STATES BY NATIONAL POPULAR VOTE.
LCO No.: 6895
File Copy No.: 334
Senate Calendar No.: 252
OFA Fiscal Note
SIGNIFICANT GENERAL FUND SAVINGS
The amendment eliminates the Citizens' Election Program which would yield General Fund revenue gains of $31.2 million in FY 14, and $11 million in FY 15 and annually thereafter. A savings of approximately $1.8 million in FY 14 and $1.9 million in FY 15 would result from eliminating the program's administrative costs.
As of May 2, 2013, the CEF had a balance of approximately $20 million. In addition, surplus funds of approximately $200,000 are anticipated to be returned from candidate campaign committees in FY 13. In FY 14, the CEF is anticipated to receive approximately $11 million under current statute (CGS 3-69a). Under the amendment, these funds, totaling $31.2 million, are anticipated to be transferred from the Citizens' Election Fund to the General Fund in FY 14. In FY 15, and annually thereafter, $11 million is anticipated to be deposited in the General Fund from the sale of abandoned property.
The Office of Governmental Accountability's State Election Enforcement Commission is anticipated to save approximately $1.8 million in FY 14 and $1.9 million in FY 15 as it is not expected to expend the resources appropriated for management of the Citizens Election Program. The FY 14 savings may be offset, in part, by costs associated with terminating the Citizens Election Fund and supporting staff.
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.