Connecticut legislation · 2025 General Assembly
Connecticut HB6752: AN ACT ADJUSTING THE FISCAL GUARDRAILS.
Status: Introduced, January 28, 2025
What the bill says
An act ADJUSTING THE FISCAL GUARDRAILS. Assembly convened: That: (1) The definition of "increase in inflation" under section 2-33a of the general statutes be amended to specify that the consumer price index adjustment be for all items, not seasonally adjusted; (2) the LCO No. 3394 1 of Proposed Bill No. 6752 definition of "general budget expenditures" under said section be amended to exclude payments toward the unfunded liability for the state employees retirement system and the teachers' retirement system to the extent such payments are the result of actuarial gains or losses or changes in ac.
From the introduced text:
AN ACT ADJUSTING THE FISCAL GUARDRAILS. Assembly convened: That: (1) The definition of "increase in inflation" under section 2-33a of the general statutes be amended to specify that the consumer price index adjustment be for all items, not seasonally adjusted; (2) the LCO No. 3394 1 of Proposed Bill No. 6752 definition of "general budget expenditures" under said section be amended to exclude payments toward the unfunded liability for the state employees retirement system and the teachers' retirement system to the extent such payments are the result of actuarial gains or losses or changes in actuarial assumptions; (3) the methodology used to calculate the annual adjustment to the threshold amount of the revenue transfer under section 4-30a of the general statutes be amended to use an inflation-adjusted ten-year moving average of the revenue being transferred; (4) the limitation on General Fund and Special Transportation Fund appropriations under section 2-33c of the general statutes be amended to be based on the balances of the Budget Reserve Fund and Special Transportation Fund, respectively; and (5) the state bonding process be amended to incorporate economic impact analyses prepared by the Treasurer for proposed and actual bond expenditures. Statement of Purpose: To make adjustments to the spending cap and the volatility cap and require the incorporation of certain economic impact analyses by the Treasurer …