OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
http: //www. cga. ct. gov/ofa
October 26, 2011
ADDENDUM
To Fiscal Note on
HB-6801
EMERGENCY CERTIFICATION
AN ACT PROMOTING ECONOMIC GROWTH AND JOB CREATION IN THE STATE.
It should be noted that Section 48, which reduces the cap on the Urban and Industrial Site Reinvestment Tax Credit from $750. 0 million to $650. 0 million, reduces the state's exposure for a revenue loss due to this tax credit by $100. 0 million (the fiscal note lists the exposure reduction per year over the ten-year structure of the program).
In addition, the fiscal note lists the total bond authorizations contained in the bill. The table below shows the total bond authorizations and the amount of additional bonds authorized during the current biennium ($281. 0 million in FY 12 and $345. 0 million in FY 13).
It should be noted that any debt service costs would be contingent on the amount of authorizations that are ultimately allocated through the bond commission. Authorizations alone do not increase debt service costs.
Section #s |
Topic |
Bond Fund Source |
Auth. In FY 12 |
Auth. In FY 13 |
1-3 |
Small business express |
GO |
50,000,000 |
50,000,000 |
4-5 |
STEP |
GO |
10,000,000 |
10,000,000 |
12-16 |
Farmland restoration |
GO |
5,000,000 |
|
24-27 |
Brownfields |
GO |
20,000,000 |
|
28 |
DECD electronic business portal |
GO |
1,000,000 |
|
30-36 |
Workforce development |
GO |
10,000,000 |
10,000,000 |
38, 47-48 |
Manufacturers Asst Act and Urban Reinvestment Act |
GO |
100,000,000 |
240,000,000 |
49-51 |
Boiler replacement |
GO |
5,000,000 |
5,000,000 |
52 |
CII recapitalization |
GO |
25,000,000 |
25,000,000 |
78-79 |
Main Street |
GO |
5,000,000 |
5,000,000 |
|
Total GO |
|
231,000,000 |
345,000,000 |
|
|
|
|
|
46 |
Fix It First bridges program |
STO |
|
|
|
Total STO |
|
50,000,000 |
- |
|
|
|
|
|
|
Total Bonding |
|
281,000,000 |
345,000,000 |