OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-5509

AN ACT CONCERNING MUNICIPAL ORDINANCES FOR INTEREST RATES ON DELINQUENT SEWER ASSESSMENTS.


OFA Fiscal Note

State Impact: None

Municipal Impact:

Municipalities

Effect

FY 19 $

FY 20 $

Various Municipalities

Potential Revenue Loss

Minimal

Minimal

Explanation

There is a potential revenue loss associated with the bill, which permits municipalities to lower the interest rate it charges on delinquent sewer assessment bills. The impact within any given fiscal year is expected to be minimal, as the loss in accrued interest is only realized on bills paid.

The Out Years

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