“Businesses are buried under the weight of state regulations that end up costing them a lot of money, but do not necessarily accomplish anything beneficial for the state or the businesses. We need to take a close look at the business regulations we have on the books, and move quickly to get rid of those that do more harm than good,” said Senator Debicella, ranking member of the General Assembly’s Commerce Committee.

Senator Debicella said SB 399, An Act Concerning Regulatory Relief For Small Business would have two major initiatives. First, it would create a task force to review how regulations impact small businesses and prepare proposals for revision or elimination of renovations. Second, and more ground-breaking for Connecticut, the committee will utilize cost-benefit analyses to determine if the regulations are meeting their stated goals or are hurting Connecticut’s business climate. The task force will also create a proposal for on-going cost-benefit analysis of new regulations.

Senate Minority Leader John McKinney hailed the bills’ passage as part of the Senate Republican jobs’ bill, saying: “Senator Debicella has played an important role in moving the Senate Republican Jobs Growth Initiative forward.

“Over the years, a lack of oversight has resulted in a growing number of unnecessary, costly and redundant state business regulations. This has created a bureaucratic maze in which business owners have to seek multiple permit approvals from multiple uncoordinated state agencies for the same projects. These counterproductive regulations impede business development in our state and this bill will go a long way toward repealing them.”

The legislation is aimed at independently owned and operated businesses that employ fewer than 50 full-time employees or that have gross sales of less than five million dollars. The task force will consist of small business owners, legislators and consumers. The task force would submit an interim report to the General Assembly’s Commerce Committee by January 1, 2009 and a final report by January 1, 2010.

The task force will review current state-imposed record-keeping, reporting and other requirements, consider the treatment of small businesses in the regulation-making process, review the state’s business tax system, and make recommendations for on-going cost-benefit analysis of proposed regulation.

The legislation is subject to further action by the House of Representatives.

“Once we have the task force’s initial report in January, I plan on introducing specific legislation to change or eliminate the onerous regulation that the task force has identified. Fostering a business-friendly climate is the key to keeping and creating jobs in our state. Passing this legislation is a positive step in that direction,” said Senator Debicella.