OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

HB-7061

AN ACT CONCERNING THE STATE BUDGET FOR THE BIENNIUM ENDING JUNE 30, 2017, AND MAKING APPROPRIATIONS THEREFOR, AND OTHER PROVISIONS RELATED TO REVENUE, DEFICIENCY APPROPRIATIONS AND TAX FAIRNESS AND ECONOMIC DEVELOPMENT.

AMENDMENT

LCO No.: 9305


OFA Fiscal Note

State Impact: See Below

Municipal Impact: None

Explanation

The amendment makes technical and other various changes to the underlying bill but does not alter the fiscal impact except as follows:

The amendment transfers $90,000 in FY 16 and FY 17 from the Community Investment Act1 to the Military Department for the Governors Horse Guard.  Of this total, $45,000 is for the First Company Governor's Horse Guard unit at the Avon facility, and $45,000 is for the Second Company Governor's Horse Guard unit at the Newtown facility.

The amendment also requires the Department of Revenue Services to study alternative methods of Corporation Business Tax apportionment and report findings to the General Assembly.  This does not result in any fiscal impact as it is anticipated that these requirements could be accomplished by the agency without additional resources.

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.

1 Under the CIA, a $40 recording fee is collected on every municipal real-estate transaction. The revenue derived from these fees is then distributed to four agencies: Agriculture (DAG), Energy and Environmental Protection (DEEP), Economic and Community Development (DECD), and Housing (DOH). The CIA is a series of non-appropriated accounts within the general fund.