OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

SB-57

AN ACT CONCERNING THE DIRECT DEPOSIT OF WAGES.


OFA Fiscal Note

State Impact: None

Municipal Impact:

Municipalities

Effect

FY 15 $

FY 16 $

Various Municipalities

Potential Cost

Indeterminate

Indeterminate

Explanation

The bill does not result in a fiscal impact to the state, but may result in a cost to municipalities. The Office of the State Comptroller manages direct deposits through the state's accounting system, Core-CT. While the current system will have to have a field added to electronically identify deposits as wages, this configuration is considered part of the normal maintenance of Core-CT and therefore will not result in any additional cost to the state.

There may be a cost to municipalities related to consulting or other information technology related costs to configure their electronic payroll systems to accommodate the requirements of the bill. It is uncertain what the scope of the costs will be.

The Out Years

The annualized ongoing fiscal impact identified above would continue into the future subject to inflation.