OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sHB-6467
AN ACT CONCERNING THE SMALL BUSINESS EXPRESS
PROGRAM.
AMENDMENT
LCO No.: 10073
File Copy No.: 303
House Calendar No.: 235
Primary Analyst: EW 6/4/21
Contributing Analyst(s): EMG (FN)
OFA Fiscal Note
See Fiscal Note Details
The amendment strikes the underlying bill and its associated fiscal
impact.
Sections 1 - 3 makes changes to the Small Business Express program
that could result in increased or more rapid use of funds authorized
for the Small Business Express program. The program is funded
through a combination of General Obligation (GO) bond funds and
revenues from repayment of loans previously issued under the
program. Future General Fund debt service costs may be incurred
sooner under the bill to the degree that it causes authorized GO bond
funds to be expended or to be expended more rapidly than they
otherwise would have been.
Section 4 makes modifications to reporting requirements of the
Department of Economic and Community Development which have
no fiscal impact.
Background: As of May 1, 2021, the unallocated bond balance
available under the relevant authorizations is $9 million. The bill does
not change GO bond authorizations relevant to the program.
sSB 887, the FY 22 and FY 23 Bond Bill, as favorably reported by the 2021HB-06467-R00LCO10073-FNA.DOCX Page 2 of 2
Finance, Revenue and Bonding Committee, authorizes $50 million of
General Obligation bonds (as $25 million in each of FY 22 and FY 23)
for the Small Business Express program.
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. In general, fiscal impacts are based upon a variety
of informational sources, including the analyst’s professional knowledge. Whenever applicable, agency data is
consulted as part of the analysis, however final products do not necessarily reflect an assessment from any
specific department.