OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
SB-1027
AN ACT CONCERNING THE DEPARTMENT OF ECONOMIC AND
COMMUNITY DEVELOPMENT'S RECOMMENDATIONS
REGARDING THE JOBSCT TAX REBATE PROGRAM AND
CERTAIN AEROSPACE MANUFACTURING PROJECTS.
Primary Analyst: CW 5/1/23
Contributing Analyst(s):
Reviewer: MM
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 24 $ FY 25 $
Department of Economic &
Community Development
GF - See Below See Below See Below
Note: GF=General Fund
Municipal Impact: None
Explanation
The bill, which extends by one year the timeline under which an
eligible aerospace company must use the tax benefits provided in PA
22-4, AAC Certain Aerospace Manufacturing Projects. While this may
result in a shift in the timing of the revenue loss under the program
(from FY 32 to FY 33), it does not affect the overall magnitude.
The Out Years
The impact of the bill is limited to FY 32 and FY 33 only.