OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 ↓ (860) 240-0200

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

SB-1

AN ACT CONCERNING EARNED FAMILY AND MEDICAL LEAVE.

AMENDMENT

LCO No.: 8372

File Copy No.: 236

Senate Calendar No.: 153

OFA Fiscal Note

State Impact:

Note: GF=General Fund

Municipal Impact: None

Explanation

The amendment makes a number of changes to eligibility and various other components of the Family and Medical Leave programs established under the bill. These changes do not alter the administrative/implementation costs identified in the fiscal note on the underlying bill.

The amendment eliminates the provision of the bill specifying that any funds expended from the General Fund for the purpose of administering the FMLC program be reimbursed no later than October 1, 2019. Instead, the amendment would authorize $20 million in General Obligation bonding for the Family and Medical Leave Compensation Program, to be administered by the Department of Labor. To the extent that the authorized bonds are allocated by the State Bond Commission, the state would need to repay the principal amount of the bond plus associated fees and interest.

The bond authorization is effective in FY 19 ($10 million) and FY 20 ($10 million). Because of the authorization dates, it is not expected that that state would begin repayment during the biennium.

Under current market conditions, the state would repay a $20 million bond over 20 years at approximate total cost of $28.8 million (for principal and interest), or approximately $1.4m per year on average.

The Out Years

State Impact:

Note: GF=General Fund

Municipal Impact: None

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.