An Act Concerning The Development Of Evaluative Metrics For Bioscience Investments In The State.
The impact of SB00962 on state laws involves the establishment of a systematic approach to evaluate the return on investment in the bioscience sector. By mandating the development of these evaluative metrics, the bill aims to ensure accountability and transparency regarding taxpayer investments in bioscience. The insights gained from these evaluations are intended to guide future funding decisions, ultimately aiming to enhance the effectiveness of state investments in fostering job growth and economic development within this field.
Senate Bill No. 962, also known as the Act Concerning The Development Of Evaluative Metrics For Bioscience Investments In The State, focuses on creating metrics to assess how the state's investments in bioscience affect economic outcomes. The bill entrusts Connecticut Innovations, Incorporated with the responsibility of contracting a private vendor to develop these metrics by January 1, 2018. This legislation emphasizes the need for measurable evaluations that link financial input to tangible economic results, including job creation and other related multiplier effects.
The general sentiment surrounding SB00962 appears to be supportive, particularly among stakeholders in the bioscience and economic development sectors. Proponents believe that establishing evaluative metrics will not only provide a clearer picture of the successes and challenges associated with bioscience investments but also facilitate informed decision-making by legislators and policymakers. However, there may also be concerns regarding the administrative capacity of Connecticut Innovations to effectively oversee and implement the metrics development as outlined in the bill.
While there doesn't seem to be significant contention around SB00962 in the available discussions, potential points of contention could arise in the future regarding the appropriateness and accuracy of the metrics developed. Questions may emerge about who will be selected as the private vendor for this project, how comprehensive and actionable the resulting metrics will be, and whether the evaluation process will adequately reflect the nuanced impacts of bioscience investments on different economic sectors.