OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

HB-7601

AN ACT CONCERNING DEFICIT MITIGATION.

AMENDMENT

LCO No.: 7067

OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 09 $

FY 10 $

Elect. Enforcement Com. (Citizens' Election Fund)

GF - Revenue Loss

$7.5 million

$7.5 million

Treasurer

GF - Revenue Gain

$7.5 million

$7.5 million

Note: GF=General Fund

Municipal Impact: None

Explanation

The amendment reduces: 1) the amount of the grants to candidates who choose to participate in the Citizens' Election Program by 50% and 2) the annual allocation from the cash receipts received from unclaimed property escheated to the state to the Citizens' Election Fund (CEF) account by $7.5 million. This results in an annual revenue loss to the CEF account and a corresponding revenue gain to the state.

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.