OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sSB-415

AN ACT CONCERNING GRANTS FOR COMBINED SEWER PROJECTS.


OFA Fiscal Note

State Impact: None

Municipal Impact: None

Explanation

The bill permits certain combined sewer projects to receive state grants of up to 80% of project costs, rather than the 50% grant under current law, if additional General Obligation (GO) bonds are authorized for the program. No additional bonds are authorized for the program in the bill. No fiscal impact is anticipated until/unless additional bonds are authorized for the program and are awarded to the projects made eligible for additional funding.

Combined sewer projects are eligible for financing through a combination of grants, financed by GO bonds, and loans, financed by Clean Water Fund Revenue bonds. If the conditions for the higher grant reimbursement rate specified in the bill are met, a smaller share of loans financed by Clean Water Fund Revenue bonds will be necessary for those same projects.

The Out Years

State Impact: None

Municipal Impact: None