OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sHB-5264
AN ACT CONCERNING THE APPROVAL OF FINANCIAL AID
APPLICATIONS FILED WITH CONNECTICUT INNOVATIONS,
INCORPORATED AND ESTABLISHING AN ATTENDANCE
POLICY FOR CONNECTICUT INNOVATIONS, INCORPORATED'S
BOARD OF DIRECTORS.
Primary Analyst: EW 3/21/22
Contributing Analyst(s):
Reviewer: MM
OFA Fiscal Note
State Impact: None
Municipal Impact: None
Explanation
The bill has no fiscal impact by increasing the level of financial aid
that may be delegated by the board of directors for approval by
Connecticut Innovations (CI) staff from $150,000 to $500,000. It is
anticipated that this provision will expedite awards that would
otherwise be approved by the board of directors.
The bill also has no fiscal impact by modifying the terms of the
members of the Board of Directors.
Background
CI is a quasi-public state agency that is primarily financed by loan
repayments, investment returns, and fees. The state periodically
provides General Obligation bonds to CI to support their program;
however, the bill does not alter those bond authorizations and therefore
has no state fiscal impact.
The Out Years
State Impact: None 2022HB-05264-R000048-FN.DOCX Page 2 of 2
Municipal Impact: None