OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sHB-5228
AN ACT CONCERNING THE PURCHASE OF CERTAIN LANDS AT
AGRICULTURAL VALUE.
Primary Analyst: RW 4/8/24
Contributing Analyst(s):
Reviewer: PR
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 25 $ FY 26 $
Department of Agriculture GF - Uncertain See Below See Below
Note: GF=General Fund
Municipal Impact:
Municipalities Effect FY 25 $ FY 26 $
Various Municipalities Potential
Cost
See Below See Below
Explanation
State Impact
The bill allows the Commissioner of the Department of Agriculture
to establish and administer a grant program for eligible municipalities
and nonprofits to acquire options to purchase restricted agricultural
land at agricultural use value. The impact of this provision is not known
because the bill does not establish a funding source for the program and
the department does not have existing resources to fund such a
program.
Municipal Impact
The bill will result in a cost to municipalities that elect to acquire
options to purchase restricted agricultural land at its agricultural use
value. The cost to municipalities will be dependent on the value of the
purchase options at the time of the sale. 2024HB-05228-R000325-FN.DOCX Page 2 of 2
The Out Years
The annualized ongoing fiscal impact identified above would
continue into the future subject to inflation.