House Bill No. 7020, also known as Public Act No. 25-36, amends the statutes governing certified public accountants (CPAs) in Connecticut by introducing new definitions and clarifications, particularly emphasizing gender-neutral language. The bill repeals and substitutes certain sections to enhance clarity and consistency in the regulations, particularly in sections 20-279b to 20-281n. It empowers the State Board of Accountancy to adopt regulations regarding the conduct of licensees, educational qualifications, experience requirements, and continuing professional education for license renewal, thereby modernizing the regulatory framework for CPAs while promoting inclusivity.

The bill also revises the requirements for obtaining a CPA certificate by removing the "good character" requirement and introducing new educational prerequisites effective October 1, 2025. Applicants must now hold a baccalaureate degree with an accounting concentration and fulfill additional semester hours based on their educational background. Furthermore, it establishes regulations for the use of CPA titles by certificate holders without licenses, mandates clear disclosures regarding commissions, and allows out-of-state CPAs to practice in Connecticut without a state license, provided they meet specific criteria. The bill aims to streamline the certification process and enhance transparency in the public accountancy profession while ensuring compliance with state laws.

Statutes affected:
Raised Bill: 20-279b, 20-281c, 20-281n
GL Joint Favorable: 20-279b, 20-281c, 20-281n
File No. 361: 20-279b, 20-281c, 20-281n
File No. 812: 20-279b, 20-281c, 20-281n
Public Act No. 25-36: 20-279b, 20-281c, 20-281n