OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-7311

AN ACT CONCERNING LIMITED LIABILITY COMPANIES AND BUSINESS CORPORATIONS.

As Amended by House "A" (LCO 7632)

House Calendar No.: 455


OFA Fiscal Note

State Impact: None

Municipal Impact: None

Explanation

The bill, which makes various changes to statutes governing Limited Liability Companies (LLC) and business corporations, has no fiscal impact.

House “A” removed the requirement of the creation of a new business entity known as a series LLC. This change eliminates the reprogramming needed for the CONCORD system; eliminating a cost of approximately $375,000 to $600,000 in FY 19.

The Out Years

State Impact: None

Municipal Impact: None