OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-3
AN ACT REQUIRING THE BOARD OF REGENTS FOR HIGHER
EDUCATION TO DEVELOP SEMINAR PROGRAMS FOR SMALL
BUSINESSES.
Primary Analyst: JS 4/2/22
Contributing Analyst(s):
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 23 $ FY 24 $
Board of Regents for Higher
Education
Various - Cost At least
16,000
At least
16,000
Note: Various=Various
Municipal Impact: None
Explanation
The bill requires two community college entrepreneurial centers to
offer at least four specified seminars free of charge to small business
employees, which results in a cost of at least $16,000 per year in FY 23
and FY 24. The cost may be paid by the Board of Regents or the state
American Rescue Plan Act (ARPA) funds.
The cost of the bill depends on the number of times that seminars are
offered, at an estimated cost per seminar of $1,000. It is anticipated that
minimally, both entrepreneurial centers will offer each of four seminars
twice annually, for a total cost of at least $16,000 per year. To the extent
the seminars are offered more frequently, or additional seminar topics
are offered, the costs will increase.
Additionally, the bill allows but does not require the Board of
Regents to expend state American Rescue Plan Act (ARPA) funds in FY
23 and FY 24 to pay for the seminar costs. If new ARPA funding is 2022SB-00003-R000255-FN.DOCX Page 2 of 2
provided to the BOR for this purpose, then the bill has no cost to the
BOR provided spending on the bill's requirements does not exceed the
ARPA allocation. However, if the bill's costs are paid through the FY 23
budgeted ARPA allocation of $5 million in general support to the BOR
institutions, then the bill reduces such funding that is available to BOR
for general use.
The Out Years
The annualized ongoing fiscal impact identified above would
continue into the future subject to inflation and whether the courses
continue to be offered beyond FY 24.