Connecticut House Bill HB06827

Connecticut 2015 Regular Session

• Introduced: 2/19/15
• Refer: 2/19/15
• Report Pass: 3/19/15
• Refer: 3/30/15
• Report Pass: 4/7/15

Caption

An Act Concerning The Small Business Express Program And Underserved Communities.

Impact

The provisions of HB 06827 suggest significant implications for state laws governing small business assistance. By establishing a revolving loan fund and creating components for job creation incentives and matching grants, the bill amends existing statutes to facilitate faster and more effective support for small businesses. Additionally, by addressing the underserved populations specifically, the bill indicates an effort to ensure equitable access to state resources and support in areas that may otherwise face economic hardships.

Summary

House Bill 06827, known as 'An Act Concerning the Small Business Express Program and Underserved Communities,' seeks to enhance support for small businesses in Connecticut through various financial assistance mechanisms. The bill aims to provide small businesses with easier access to financial resources, streamline the application process, and prioritize funding for businesses that create jobs, particularly in underserved communities. By offering a streamlined approach for financial help, the bill intends to invigorate small business growth and foster economic development throughout the state.

Sentiment

The overall sentiment around HB 06827 seems to be favorable among proponents who view it as a necessary step to bolster small businesses. Supporters argue that the bill will provide vital financial backing that small businesses require, especially in challenging economic conditions. However, some concerns may arise regarding the administration of the program and whether it will adequately reach and assist the intended populations. Elected officials and business advocates have expressed optimism for the potential positive impact on economic dynamism in Connecticut.

Contention

While HB 06827 has garnered support, potential points of contention include the enforcement of eligibility criteria and the allocation of funds. Questions may arise about how effectively the bill can identify and serve the truly underserved communities, and whether the application process remains streamlined enough to prevent bureaucratic hurdles. As with any economic initiative, stakeholders may debate the long-term effectiveness of these assistance programs and their role in sustainable job creation.