OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-1042
AN ACT AUTHORIZING THE DEPARTMENT OF ECONOMIC AND
COMMUNITY DEVELOPMENT TO PROVIDE CAPACITY
BUILDING GRANTS TO CONNECTICUT BROWNFIELD LAND
BANKS.
As Amended by Senate "A" (LCO 7218)
Senate Calendar No.: 149
Primary Analyst: EW 5/4/23
Contributing Analyst(s):
Reviewer: CW
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 24 $ FY 25 $
Treasurer, Debt Serv. GF - Potential
Cost
See Below See Below
Note: GF=General Fund
Municipal Impact: None
Explanation
The bill expands the Remedial Action and Redevelopment Municipal
Grant Program’s scope to include grants for Connecticut brownfield
land bank (CBLB) operational expenses.
This could result in increased or more rapid use of the General
Obligation (GO) bond authorization for brownfield remediation and
revitalization, which funds the Remedial Action and Redevelopment
Municipal Grant Program. Future General Fund debt service costs may
be incurred sooner under the bill to the degree that it causes authorized
GO bond funds to be expended or to be expended more rapidly than
they otherwise would have been.
As of May 1, 2023, there is no unallocated bond balance available for
the brownfield remediation and revitalization program. The bill does
not change GO bond authorizations relevant to the program. 2023SB-01042-R01-FN.DOCX Page 2 of 2
Senate “A” modifies the qualifications for capacity-building grants
which results in a net impact similar to the impact for the underlying
bill.
Background
sSB 980, An Act Authorizing and Adjusting Bonds of the State,
includes $35 million of new GO bond authorizations in each of FY 24
and FY 25 for the Brownfields Remediation program.
The Out Years
The annualized ongoing fiscal impact identified above would
continue into the future subject to inflation.
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.