House Bill No. 7278 proposes the repeal of Special Act 23-30, which previously authorized the conveyance of a specific parcel of state land from the Department of Transportation (DOT) to the town of East Haddam. The bill's enactment will result in the state retaining ownership and use of the land, thereby preventing any potential revenue gain that could have been realized from the property's fair market value. The town of East Haddam will also miss out on the opportunity to utilize the asset and will not incur the associated costs of the conveyance.

The bill is set to take effect immediately upon passage, as indicated by the insertion of the repealer section. The fiscal impact statement notes that there will be no financial implications for the state or the town of East Haddam in the upcoming fiscal years as a result of this repeal. The Government Oversight Committee has reported favorably on the bill, with a unanimous vote of 12 in favor and none against.