OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sSB-1058

AN ACT CONCERNING THE IDENTIFICATION OF EMERGING ECONOMIC TRENDS.


OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 18 $

FY 19 $

CT Next (CT Innovations Inc)

GF - Acceleration of Debt Service Costs

See Below

See Below

Note: GF=General Fund

Municipal Impact: None

Explanation

The bill is anticipated to accelerate the use of General Obligation bond funds by requiring the CTNext Board to retain and direct an independent research organization to conduct ongoing strategic planning and generate recommendations.

The bill does not authorize any General Obligation bonds, the funding source of CTNext, for this specific purpose. It is therefore anticipated that funding will sourced from G.O. bond authorizations available to CTNext.

The Out Years

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