OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-1522
AN ACT RENAMING THE COMMUNITY INVESTMENT ACCOUNT
THE DONALD E. WILLIAMS, JR. COMMUNITY INVESTMENT
ACCOUNT AND INCREASING FUNDING FOR SAID ACCOUNT.
Primary Analyst: PR 4/9/25
Contributing Analyst(s): SB, LG, JP, BP, EW
Reviewer: EW
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 26 $ FY 27 $
Department of Housing;
Department of Energy and
Environmental Protection;
Department of Economic &
Community Development
GF - Revenue
Gain
713,349
each
713,349
each
Department of Agriculture GF - Revenue
Gain
1,496,634 1,496,634
Note: GF=General Fund
Municipal Impact:
Municipalities Effect FY 26 $ FY 27 $
Various Municipalities Revenue
Gain
391,642 391,642
Explanation
The bill increases the land recording fee that funds the community
invest account (CIA) from $40 to $50 and results in a revenue gain of
approximately $3.6 million to various state agencies and revenue gain
of approximately $391,642 to various municipalities
1
beginning in FY 26.
Based on the fee increase, the Departments of Economic and
Community Development, Energy and Environmental Protection, and
1
Estimates are based on FY 24 numbers. 2025SB-01522-R000641-FN.docx Page 2 of 2
Housing will each receive approximately $713,349 of additional revenue
from the CIA. These funds, as well as existing CIA funds, are directed
to specific programs in current statute. The Department of Agriculture
will receive additional revenue of approximately $1,496,634 ($783,285 to
the dairy farmers agriculture sustainability account and $713,349 for
various specified programs).
The bill increases the portion the town clerk retains for recording land
records from $1 to $2. In total, municipalities will receive an additional
$391,642 as a result of this bill.
The Out Years
The annualized ongoing fiscal impact identified above would
continue into the future subject to the number of land recording
transactions.