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.

As Amended by Senate "A" (LCO 3625)

House Calendar No.: 410

Senate Calendar No.: 67


OFA Fiscal Note

State Impact: None

Municipal Impact: None

Explanation

The bill does not result in a fiscal impact to the state or municipalities. The bill expands the types of bank deposits exempted from bank executions against a judgment debtor to include deposits that are readily identified as wages including those deposits of wages made within 30 days of the court order. The bill exempts these deposits up to $1,000.

Senate “A” eliminates the requirement that employers paying employees by direct deposit electronically identify the deposits as wages. The amendment eliminates the potential cost to municipalities and results in the fiscal impact described above.

The Out Years

State Impact: None

Municipal Impact: None

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.