The legislature is considering a bill (SB 304) that would once again increase reporting requirements for certain Connecticut companies.

Just a few months ago, the governor issued an executive order requiring greater disclosure surrounding economic assistance or tax credits. Yet this bill seeks to increase the paperwork.   

Specifically, SB 304 applies to companies receiving financial assistance from the state Department of Economic and Community Development (DECD) for construction-related projects. 

As DECD pointed out in its testimony on the bill, however, these increased reporting requirements could frustrate employers trying to do business in our state.

What’s more, while this bill is currently limited to one industry, there are concerns that it could spill out to impact more and more employers in Connecticut. 

Given that the governor's executive order increasing disclosure requirements is already in effect, this bill would only create more paperwork for employers trying to do business in our state.

For more information, contact CBIA’s Jennifer Herz at 860.244.1921 | | @CBIAjherz