Advocacy Updates
Connecticut Legislative News
For the 2025 legislative session, CTCPA has a range of topics that we will be pushing, as well as some other initiatives we plan to be involved in.
Here's a snapshot of some of our initiatives
In case you missed it: State Single Audit threshold increased to $500,000
Not a CTCPA member? Join today to receive even more legislative and regulatory news straight to your inbox.
Find your legislators in our Advocacy Action Center.
View our Advocacy Toolkit to learn how you can help protect your career, your company, and your clients by getting engaged in the legislative process with these simple steps.
Help us develop a team of members to work with the CTCPA during the legislative session when issues arise.
We're working hard for you at the State Capitol - but we can't do it alone. We'd like to thank the CTCPA members who've helped us this legislative session, whether they've written testimony, contacted their legislators, or contributed to our advocacy efforts.
In case you missed it: State Single Audit Threshold Increased to $500,000
January 14, 2025
Late in last year’s legislative session, P.A. 24-132 was passed, increasing the State Single Audit threshold from $300,000 to $500,000 for nonstate entities with a fiscal year beginning July 1, 2024 or after.
Education And Housing Take Center Stage At State Capitol
January 13, 2025
The leaders of the five largest cities in the state and legislative leaders from both houses gathered Monday in separate news conferences at the Legislative Office Building to share their visions for the future of education funding and housing policy in this year’s legislative session.
CT Gov. Lamont’s ‘north stars’ in 2025: opportunity and affordability
January 08, 2025
In speech to kick off General Assembly session, Lamont will offer suggestions to open discussion with lawmakers.
Treasurer: CT saves big by not stashing transportation funds
January 07, 2025
Treasurer wants ongoing plan to retire debt early.
CT’s 2025 legislative session begins this week. Here’s what to expect
January 06, 2025
On Wednesday, the Connecticut General Assembly will convene for its 2025 legislative session, which will run through June 4 at midnight.
Critics, backers of CT’s budget ‘guardrails’ want transparent debate
January 02, 2025
Reforms to the state’s savings program are expected in the new year.
Federal Legislative News
DOL’s ‘retirement security rule’ runs into obstacles
January 13, 2025
The U.S. Department of Labor's (DOL's) "retirement security rule" (RIN 1210-AC02), which was scheduled to take effect this past September but has been temporarily blocked by the courts, faces doubtful prospects because of court challenges and the change in presidential administration.
Ohio gov signs alternative CPA licensure pathway bill into law
January 09, 2025
The move puts the Buckeye state at the forefront of the recent drive to address the talent shortage by widening on-ramps into the accounting profession.
Finally, U.S. pension plans reach fully funded status
January 07, 2025
The last time plans were at least 100% funded was before the 2008 financial crisis.
DOJ asks Supreme Court to block injunction on BOI reporting
January 03, 2025
The Justice Department (DOJ) filed an emergency application with the Supreme Court asking it to stay the district court injunction that is preventing the government from enforcing the Corporate Transparency Act and its requirements to report beneficial ownership information (BOI).
FASB Stakeholders Invited to Share Their Views on Future Agenda Priorities
January 02, 2025
The Financial Accounting Standards Board (FASB) today published an Invitation to Comment (ITC) that gives stakeholders the opportunity to provide feedback on its future standard-setting agenda. Stakeholders are asked to review and provide comment on the ITC by June 30, 2025.
BOI reporting deadline extension proposed in House draft budget bill
December 18, 2024
The Jan. 1, 2025, deadline for reporting companies to file beneficial ownership information (BOI) reports could be extended by one year, based on a draft continuing resolution proposed in the House of Representatives. The 1,500-page short-term funding bill, which would keep the government funded until March 14, 2025, could be voted on today by the House and shortly thereafter by the Senate.