OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-5585

AN ACT ESTABLISHING AND FUNDING A STATE PARKS SUSTAINABILITY ACCOUNT.

OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 17 $

FY 18 $

Department of Energy and Environmental Protection

GF - Revenue Gain

At least $4 million

At least $4 million

Revenue Serv., Dept.

GF - Revenue Loss

At least $4 million

At least $4 million

Note: GF=General Fund

Municipal Impact: None

Explanation

The bill establishes a state parks sustainability account as a separate, nonlapsing account in the General Fund to be used by the Department of Energy and Environmental Protection (DEEP) for state parks. It requires a diversion of $4 million of unclaimed bottle deposit revenue from the General Fund to the new account.1

This results in a revenue gain of at least $4 million annually to the newly created account for use by DEEP for state parks, and a commensurate revenue loss of at least $4 million to the General Fund annually.

The Out Years

The annualized ongoing fiscal impact identified above would continue into the future subject to the amount of the transfer from one general fund account to the other, being at least $4 million annually.

1 Bottle escheat revenue totaled $30.6 million in FY 15.