OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

HB-5591

AN ACT CREATING THE CONNECTICUT RETIREMENT SECURITY PROGRAM.

AMENDMENT

LCO No.: 5674

File Copy No.: 747

House Calendar No.: 227

Senate Calendar No.: 522

OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

Various State Agencies

GF - Potentially Delays Costs

Note: GF=General Fund

Municipal Impact:

Municipalities

Effect

Various Municipalities

Potentially Delays Costs

Explanation

The amendment strikes the language and associated fiscal impact in the underlying bill. The amendment, which requires the minimum wage to increase to $10.10 on January 1, 2017 or on the date in which the average unemployment rate of the state is less than or equal to the average unemployment rate of the nation, whichever is later, may delay the costs to the state and municipalities.

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.