House OKs Bill To Lighten Small-Biz Regulatory Burden
This week, the state House unanimously passed HB-5930, which requires state agencies proposing new regulations to assess the impact of the proposals on small businesses.
CBIA worked with lawmakers beginning last fall to craft a bill to help address a long-standing complaint that many Connecticut regulations are more burdensome than they need to be to accomplish their goals.
Under the bill, agencies proposing regulations will have to conduct a fiscal impact analyses (including the projected impact on small businesses) as well as demonstrate how the proposed regulations, if affecting small businesses, will help reduce their burden.
Both of these requirements would have to be completed at least 30 days prior to a public hearing on the regulations so that the public can be informed about the impact of the regulations and make comments. In addition, the required documentation would have to be submitted to the legislature’s Regulations Review Committee, which has final authority to approve or reject proposed regulations. Failing to do so in a timely manner would be grounds for rejecting the proposed regulations.
The House also agreed with CBIA’s request to broaden the definition of “small business.” Under HB-5930, the definition of small business would change from the current 50 employees to 75 employees.
CBIA appreciates the bipartisan support in the House of Representatives and looks forward to the bill being considered in the Senate. Hopefully, other CBIA proposals for improving state permitting and regulatory functions will also be favorably considered.
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