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Governor Lamont's Recommended Budget Adjustments for FY 2025 (Office of Policy and Management)

Feb 7, 2024

On Wednesday, February 7, 2024, Governor Ned Lamont released his proposed budget adjustments for fiscal year 2025 to the Connecticut General Assembly. This resource contains documents related to these proposed adjustments.

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Economic Reports of the Governor (Office of Policy and Management)

Feb 7, 2024

Required by Section 4-74a of the Connecticut General Statutes, this report is prepared by Connecticut's Office of Policy and Management and is required to "include the recommendations of the Governor concerning the economy and shall include an analysis of the impact of both proposed spending and proposed revenue programs on the employment, production and purchasing power of the people and industries within the state.” This report is also intended to provide a brief profile of the State of Connecticut, the economy of the state, revenues and economic assumptions that support the governor's budget, and an analysis of the impact of both proposed spending and proposed revenue programs on the economy of the State of Connecticut.

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Connecticut Tax Expenditure Reports (Office of Fiscal Analysis)

Feb 1, 2024

In accordance with state statute, every other year, the Connecticut General Assembly's Office of Fiscal Analysis produces a report on the state's tax expenditures, which are defined as exemptions, exclusions, deductions, or credits that result in less tax revenue to the State or municipalities than they would otherwise receive.

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Consensus Revenue Estimates, 2009-Present (Office of Policy and Management and Office of Fiscal Analysis)

Jan 16, 2024

Connecticut state statute directs the secretary of the Office of Policy and Management and the director of the General Assembly's Office of Fiscal Analysis to agree on and issue consensus revenue estimates each year by November 10, and to issue any necessary consensus revenue revisions of those estimates in January and April. The estimates must cover the current biennium and the three following years. The consensus revenue estimates and revised estimates must (1) serve as the basis for the governor's proposed budget and for the revenue statement included in the final budget act passed by the General Assembly to indicate the budget is balanced, and (2) be included in the annual fiscal accountability reports submitted to the General Assembly's fiscal committees each November.

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Issue Brief and Backgrounder: Connecticut's Volatility Cap (Office of Legislative Research)

Jan 12, 2024

Issue brief and backgrounder from the Connecticut General Assembly's nonpartisan Office of Legislative Research that explains the volatility cap, and the related bond covenant requirement, which was initially passed as part of Connecticut's biennial budget for fiscal years 2018-19.

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