OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-7316

AN ACT CONCERNING EVALUATION OF BUSINESS ASSISTANCE AND INCENTIVE PROGRAMS.


OFA Fiscal Note

State Impact: None

Municipal Impact: None

Explanation

The bill does not result in a fiscal impact by making various changes pertaining to certain evaluation reports on state business assistance programs. Specifically:

Sections 1 and 3 are not anticipated to result in a fiscal impact by (1) modifying the requirements of the DECD annual report to include analyses of business assistance and incentive programs and (2) eliminating the triennial tax credit and abatement. DECD currently analyzes business assistance programs in its normal course of business and therefore can accommodate these changes without additional resources.

Section 2 requires the Auditors of Public Accounts to (1) conduct performance audits of DECD's incentive program, (2) evaluate the accuracy of DECD's annual report and (3) issue a report including recommendations for improving the administrative efficiency or effectiveness of these incentive programs. This will not require any additional resources.

The Out Years

State Impact: None

Municipal Impact: None