OFFICE OF FISCAL ANALYSIS Legislative Office Building, Room 5200 Hartford, CT 06106 (860) 240-0200 http://www.cga.ct.gov/ofa sHB-6685 AN ACT CONCERNING THE CONVEYANCE OF A PARCEL OF STATE LAND IN THE TOWN OF NORTH HAVEN. As Amended by House "A" (LCO 10070) House Calendar No.: 576 Senate Calendar No.: 569 Primary Analyst: EMG 6/7/21 Contributing Analyst(s): OFA Fiscal Note State Impact: Agency Affected Fund-Effect FY 22 $ Board of Regents for Higher Education GF - Loss of Asset 14,538,271 Note: GF=General Fund Municipal Impact: None Explanation The bill conveys a parcel of land totaling approximately 20 acres from the Board of Regents for Higher Education to Area Cooperative Educational Services (ACES), for the purposes of housing a magnet school or other educational purposes. The state would lose use of an asset (most recently valued at $14,538,271). The state would retain an easement for purposes of the operation of an automotive program on the parcel, until moved via mutually agreeable terms between the Board of Regents and ACES. ACES would gain use of an asset and would pay the administrative costs of the conveyance. The land conveyance is subject to the review and approval of the State Properties Review Board. The asset would revert to state control if the recipient does not use the land for specified purposes. 2021HB-06685-R01-FN.DOCX Page 2 of 2 House "A" modifies specific language in the bill and has no fiscal impact. 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.