Amid a Tumultuous Legislative Season, Several Victories for Connecticut CPAs

Amid a Tumultuous Legislative Season, Several Victories for Connecticut CPAs

This legislative session was a success for accountants. Our advocacy efforts successfully addressed several proposed bills of importance to the profession.

Read about the results of our advocacy efforts this session.

Read the status of the bills and proposals we tracked, addressed, and reported on this session.

Government Relations Consultant Craig Leroy is our “boots on the ground” each day at the Capitol, carefully tracking proposed bills and alerting us when issues arise that may affect the accounting profession. When a proposal requires our attention, Bonnie immediately heads to Hartford to begin discussions with key legislators and staff.

Many of you asked us to keep you informed on issues that matter most to you at the Capitol, so one of our new initiatives this year was to provide you with updates throughout the session on our Capitol Corner webpage (www.ctcpas.org/capitolcorner) and via email advisories and alerts.

Several times during the session we asked you to contact your legislators and tell them how proposed bills would affect your profession, your company, or your clients. In each case, our clear and immediate outreach was highly effective. We spoke – and they listened!

See details about the status of each of the bills and proposals we addressed this session online or in our tear-out guide from the July/August issue of Connecticut CPA. We’ve also included the status of several other bills relevant to the profession.

The State of Connecticut faces significant fiscal challenges. This comes as no surprise, as the state’s looming budget deficits and falling revenues have appeared in the news nearly every day for months. Combine this fiscal crisis with a state political environment drastically different than the state has ever seen, and it means everyone needs to beware.

License Fee Increase a Major Concern in Special Budget Session 

The legislature remained at an impasse at the end of its regular session on June 7 and was unable to adopt a biannual budget to address the state’s $5.1 billion budget deficit over the next two years. Legislators have called themselves into special session with a goal to adopt a budget by June 30, although it looks unlikely that a budget will be adopted by then.

As the legislature confronts the reality of this budgetary situation, spending or tax measures that have never been heard in committee may be introduced and voted on with almost no notice.

Our major issue of concern during the special session is a potential increase in professional license fees.

The House and Senate Democratic caucuses’ budget proposal included across-the-board license fee increases. We have been actively speaking with legislators to make them aware of how this proposal would put an unfair burden on Connecticut CPAs:

  • Connecticut CPAs pay the highest license fee in the country – this fee is 2.8 times the next highest fee and six times the national average.
  • The current CPA license fee covers the cost of the administration of the Connecticut State Board of Accountancy several times over.

Please be on the lookout for email alerts and read the latest updates at www.ctcpas.org/capitolcorner. It is imperative that you contact to your legislators as quickly as possible to help stop problematic proposals during the special session. Constituent outreach has a major impact in today’s political environment.  

We’ll continue to advocate on your behalf during the budget special session. It’s imperative that we remain vigilant to protect the profession now and in the future. Anything can happen as legislators explore any and all spending and revenue measures possible to address the state’s fiscal crisis.

Thank you for your support as we work to serve and protect the accounting profession in these unprecedented times.

Sincerely,


Bonnie Stewart
CTCPA Executive Director
bonnies@ctcpas.org

  Craig Leroy
Government Relations Consultant
Roy & Leroy