OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

SB-501

AN ACT ADJUSTING THE STATE BUDGET FOR THE BIENNIUM ENDING JUNE 30, 2017.

AMENDMENT

LCO No.: 6496

OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 17 $

FY 18 $

Resources of the General Fund

GF - Revenue Gain

11.4 million

None

Resources of the Citizen's Election Fund

CEF - Revenue Loss

11.4 million

None

Board of Regents for Higher Education

GF - Savings

3,300,000

None

Education, Dept.

GF - Savings

4,126,767

None

Note: GF=General Fund; Various=Various

Municipal Impact:

Municipalities

Effect

FY 17 $

FY 18 $

All Municipalities

Revenue Gain

16,857,669

None

Explanation

The amendment results in a revenue gain to municipalities of $16,857,669 in FY 17 by providing grants to each municipality and municipal entity as delineated in the amendment.

The amendment results in no fiscal impact to the state as funds are provided from the following agencies/accounts: State Department of Education, Common Core ($4,126,767); Board of Regents for Higher Education, Regional Community Technical Colleges and Connecticut State University ($1,650,000 each) and an estimated $11.4 million from the funds normally deposited in the Citizen's Election Fund.

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.