OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-1020
AN ACT ESTABLISHING A REGIONAL ECONOMIC
DEVELOPMENT PILOT PROGRAM.
Primary Analyst: MM 3/24/21
Contributing Analyst(s): EW
Reviewer: CW
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 22 $ FY 23 $
Department of Economic &
Community Development
GF - Cost See Below See Below
Note: GF=General Fund
Municipal Impact: None
Explanation
The bill requires the Commissioner of the Department of Economic
and Community Development to establish a regional economic
development matching grant pilot program limited to $10 million in
total, with any single matching grant limited to $5 million.
The Out Years
The impact of the bill is limited to the aggregate total. Once that
limit is reached, there would be no impact in the out years.