OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

HB-7311

AN ACT CONCERNING LIMITED LIABILITY COMPANIES AND BUSINESS CORPORATIONS.

AMENDMENT

LCO No.: 7632

File Copy No.: 688

House Calendar No.: 455


OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 18 $

FY 19 $

Secretary of the State

GF - Eliminates Cost in Bill

None

375,000-650,000

Note: GF=General Fund

Municipal Impact: None

Explanation

The amendment eliminates the cost in the underlying bill by eliminating the creation of a new business entity known as a series Limited Liability Company (LLC), no longer requiring the reprogramming of the State's CONCORD system and other online formation tools.

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.