House Bill No. 7020, also known as Public Act No. 25-36, amends the statutes governing certified public accountants (CPAs) in Connecticut, with an effective date of October 1, 2025. The bill introduces new definitions and clarifications for terms such as "Board," "Certificate," "License," and "Practicing public accountancy," while updating the language to be more gender-neutral. It repeals and replaces certain sections to streamline the language and ensure consistency across the relevant statutes. Additionally, the State Board of Accountancy is granted the authority to adopt regulations regarding the administration and enforcement of these statutes, including educational qualifications and continuing professional education for license renewal, emphasizing the importance of professional conduct and quality control in public accountancy.

Significant changes include the deletion of the "good character" requirement for CPA applicants, which previously mandated a lack of dishonest or felonious acts. Instead, new educational requirements are established, requiring applicants to have a baccalaureate degree with an accounting concentration or its equivalent, along with specified additional semester hours. The bill also introduces provisions for out-of-state CPAs, allowing them to practice in Connecticut without a state license if they hold a valid license in good standing from another state and meet certain criteria. The term "practice privilege" is replaced with "privileges," and the bill outlines the conditions under which these out-of-state CPAs can offer services, ensuring compliance with state laws and regulations. Overall, the bill aims to modernize the CPA certification process while enhancing transparency and accountability within the 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