OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
AN ACT CONCERNING AN INCREASE IN THE HANDLING FEE FOR BOTTLE REDEMPTION CENTERS.
LCO No.: 8088
File Copy No.: 383
House Calendar No.: 278
OFA Fiscal Note
FY 18 $
FY 19 $
Department of Revenue Services
GF - Revenue Gain
Note: GF=General Fund
Municipal Impact: None
The amendment strikes the underlying bill and associated fiscal impact.
The amendment expands the beverage container redemption law to include juices, teas, and sport drinks, and specifies that 80% of all beverage container escheats be deposited in the General Fund (rather than 100% as under current law). This results in a net General Fund revenue gain of approximately $200,000 on an annualized basis from bottle escheats; it is estimated that the additional revenue from the bottle container redemption expansion would exceed the revenue loss from the reduction in the portion of total escheats retained by the General 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.