OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
AN ACT CONCERNING CLIMATE CHANGE PLANNING AND RESILIENCY.
OFA Fiscal Note
State Impact: See Below
Municipal Impact: See Below
The bill integrates greenhouse gas reductions into various state planning documents and incorporates the new reduction into existing energy solicitation requirements, which could result in increased energy costs to the state and municipalities as ratepayers.
Additionally, the bill expands the definition of “flood-proofing” to include a requirement for an additional two feet of freeboard above a certain base flood mark.1 To the extent the state or municipalities build in certain flood-prone areas, there could be increased building costs associated with these new requirements. However, any increased building costs for additional freeboard material may be offset by lower insurance premiums.
The bill also makes many minor, technical, and conforming changes, which have no fiscal impact.
The Out Years
The annualized ongoing fiscal impact described above associated with increased building costs for the state and municipalities, if any, would continue into the future subject to inflation and the cost of freeboard.
1 Freeboard is a safety factor, expressed in feet above a flood level, to compensate for unknown factors that contribute to flood heights greater than calculated.