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.
As Amended by Senate "A" (LCO 9033)
Senate Calendar No.: 161
Primary Analyst: EW 5/21/21
Contributing Analyst(s):
Reviewer: MM
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.
Senate "A" reduces the potential scope of the pilot program that the
bill establishes, but maintains the aggregate potential grant amount of
$10 million under the bill's pilot program.
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.
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.