Legislature eyeing regulatory relief for state’s small businesses

(May 11, 2007) Connecticut businesses are struggling with operating in a high cost state. State taxes and regulatory burdens are unusually high here, compared with those in other states.

Nearly two-thirds of Connecticut businesses said the state’s regulatory environment is fair or poor, and 84% said the same about the state’s overall business costs, including taxes, according to CBIA’s’ latest membership survey.

Fortunately, the legislature is currently taking steps to address and improve Connecticut’s business regulatory environment through two bills.

HB-7342 creates a task force to consider the impact of regulatory requirements on small businesses and ways to lessen such impact. 

SB-1179 requires any state agency proposing a regulation to identify how it will affect small businesses. In particular, the bill calls for an economic impact analysis (EIA) for each proposed regulation.

Together, the two bills address a problem that is frequently cited by Connecticut businesses — regulatory compliance. They say that many regulations are confusing or unclear. HB-7342 and SB-1179 will help Connecticut businesses by simplifying the state’s regulatory environment. 

The bills will also save small businesses and state government time, effort and money.

The legislative session is moving along quickly. With all of the issues vying for legislators’ attention, it is imperative that business interests remain in the forefront. Passage of HB-7342 and SB-1179 will demonstrate that the legislature is serious about helping businesses and increasing economic growth in Connecticut.

CBIA encourages lawmakers to approve both bills, because businesses drive the state’s economic engine. When they prosper, everyone does.

Please contact Kevin Hennessy at 860-244-1979 or hennessk@cbia.com if you have any questions regarding regulatory relief or any economic development issues. 

CBIA Action Center

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