HB 5431 — AN ACT ESTABLISHING A CONNECTICUT FAMILIES AND WORKERS ACCOUNT.

Substitute House ofBill Representatives General Assembly File No.

5585431 FebruaryPublic Session,Act 2024 Substitute House Bill No.

543124-131 HouseAN ofACT Representatives,ESTABLISHING AprilA 18,CONNECTICUT 2024FAMILIES TheAND CommitteeWORKERS onACCOUNT. Appropriations reported through REP.

WALKER of the 93rd Dist., Chairperson of the Committee on the part of the House, that the substitute bill ought to pass.

AN ACT ESTABLISHING THE STABILIZATION SUPPORT AND ARPA REPLACEMENT FUND.

(NEW) (Effective from passage) (a) There is established aan fundaccount to be knownasthe"StabilizationSupportandARPAReplacementFund".Theknown fundas maythe contain"Connecticut anyfamilies moneysand requiredworkers oraccount" permittedwhich byshall law to be depositeda inseparate, thenonlapsing fundaccount andwithin shall be held by the TreasurerGeneral separateFund. and apart from all other moneys, funds and accounts.

InvestmentThe earningsaccount creditedshall tocontain theany assetsmoneys ofrequired saidby fundlaw shallto becomebe partdeposited ofin the assetsaccount. of said fund.

AnyMoneys balance remaining in said fund at the endaccount of any fiscal year shall be carriedexpended forwardby inthe saidComptroller fund for the fiscalpurposes yearof nextassisting succeeding.low-income workers.

(b)Sec. Moneys in the fund shall be expended by the office of the Treasurer for the following purposes during the fiscal year ending June 30, 2025:

(1)2. The state systemofhigher education;(2) stabilizationgrants to private providers;

(Effective from passage) Up to $3,000,000 of the unexpended balance offundsappropriatedto StateComptroller –Fringe Benefits,for State Employees Health Service Costs, in section 1 of public act 23-204, for the fiscal year ending June 30, 2024, shall be carried forward and (3)made children'savailable mentalduring healththe initiatives.fiscal year ending June 30, 2025, for deposit into theConnecticut families and workers account established in section of this act.

sHB5431Vetoed /June File11, No.2024

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558 This act shall take effect as follows and shall amend the following sections:

Section 1 from passage New section APP Joint Favorable Subst.

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558 The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do 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.

OFA Fiscal Note State Impact:

Agency Affected Fund-Effect FY 25 $ FY 26 $ Various SF - Uncertain See Below See Below Note:

SF=Special Fund (Non-appropriated) Municipal Impact:

None Explanation The bill establishes a special fund known as the Stabilization Support and ARPA Replacement Fund.

The fiscal impact of the bill is not known because itdoesnotspecifythesourceandamount thatwillbedeposited into the fund.

The Out Years The annualized ongoing fiscal impact identified above would continue into the future subject to inflation.

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558 OFA Bill Analysis HB 5431 AN ACT ESTABLISHING THE STABILIZATION SUPPORT AND ARPA REPLACEMENT FUND.

SUMMARY:

The bill establishes a special fund known as the "Stabilization Support andARPA Replacement Fund."Moniesdepositedinto thefund shall be used for the following purposes during the fiscal year ending June 30, 2025:

(1) the system of higher education, (2) stabilization grants to private providers, and (3) children's mental health initiatives.

The bill also specifies that any investment earnings shall be credited to the fund and any balance at the end of the fiscal year shall be carried forward and be available for the next fiscal year.

EFFECTIVE DATE:

Upon Passage COMMITTEE ACTION Appropriations Committee Joint Favorable Substitute Yea 39 Nay 13 (04/04/2024) sHB5431 / File No.

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