OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sSB-820

AN ACT CONCERNING ELIGIBILITY OF PRIMARY CARE PHYSICIANS UNDER THE SMALL BUSINESS EXPRESS PROGRAM.


OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 18 $

FY 19 $

Treasurer, Debt Serv.

GF - Acceleration of Debt Service Costs

Potential

Potential

Note: GF=General Fund

Municipal Impact: None

Explanation

The bill modifies the Small Business Express (Express) program by lowering the requirement for eligibility to the program for certain licensed physicians in the state.

The bill however does not change General Obligation (GO) bond authorizations relevant to the program.

Future General Fund debt service costs may be incurred sooner under the bill to the degree that the bill causes authorized GO bond funds to be expended more rapidly than they otherwise would have been.

The Express program is funded through GO bond funds. The program has been authorized for $340 million in net bond funds since its inception in 2011.1 As of April 3rd, the unallocated bond balance available to the program is $82.8 million.

The Out Years

The annualized ongoing fiscal impact identified above would continue into the future subject to inflation.

1 This includes (1) an earmarked authorization under the Manufacturing Assistance Act for Express established by PA 13-2 and (2) a cancellation of $20 million under PA 16-4 MSS.