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 with a focus on gender-neutral language. The bill repeals and substitutes certain sections to enhance clarity and consistency in the regulations, specifically in sections 20-279b to 20-281n. It empowers the State Board of Accountancy to adopt regulations related to the administration and enforcement of these amendments, including educational qualifications, experience requirements, and continuing professional education for license renewal. The bill emphasizes the importance of professional conduct and quality control in public accountancy practices.

Additionally, the bill modifies 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 specific semester hour requirements based on their educational background. The bill also establishes regulations for the use of CPA titles by certificate holders without licenses, mandates clear disclosures regarding commissions, and allows the board to set fees for examinations. Furthermore, it streamlines practice privileges for out-of-state CPAs, allowing them to practice in Connecticut without a state license if they meet certain criteria, while ensuring compliance with local laws. Overall, the bill aims to modernize the certification process and enhance transparency within the public accountancy profession.

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