Bill > HB05151

This bill proposes to modify the methodology for calculating the annual adjustment to the revenue transfer threshold under section 4-30a of the state's general statutes. Specifically, the bill changes how the threshold amount is adjusted each year by establishing a new calculation method that uses the higher of two economic indicators: either the annual growth rate of personal income or the change in the Consumer Price Index (CPI) for all urban consumers. The CPI is a measure of the average change in prices paid by urban consumers for goods and services, while the personal income growth rate reflects the increase in total income earned by individuals in the state. By using the greater of these two metrics, the bill aims to ensure that the revenue transfer threshold keeps pace with economic changes, potentially providing more flexibility in how the threshold is adjusted from year to year.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05151&which_year=2025