Connecticut House Bill HB07231

Connecticut 2017 Regular Session

• Introduced: 3/2/17
• Refer: 3/2/17
• Report Pass: 3/16/17
• Refer: 3/27/17
• Report Pass: 4/3/17

Caption

An Act Concerning The State Economic Strategic Plan And The Reporting Requirements Of The Department Of Economic And Community Development.

Impact

If enacted, this bill will amend several sections of existing statutes to ensure timely and thorough reporting on the state’s economy and the DECD’s strategic initiatives. The updates are designed to streamline data collection and enhance accountability, ultimately reinforcing the state's approach to economic planning and resource allocation. By focusing on accurate and regular assessments, the legislation anticipates fostering a more responsive and proactive government that can adapt to the changing economic landscape of Connecticut.

Summary

House Bill 07231 is centered on the enhancement of Connecticut's economic strategies through improved reporting requirements from the Department of Economic and Community Development (DECD). The bill mandates that the DECD submits annual reports encompassing a variety of economic indicators including employment by industry, state gross product, and overall economic competitiveness. The initiative aims to provide the Governor and the General Assembly with critical insights into the economic conditions of the state, thereby facilitating informed decision-making regarding economic policies and initiatives.

Sentiment

The sentiment surrounding HB 07231 appears to be generally positive among stakeholders who recognize the need for better oversight and transparency in economic development. Proponents argue that improved reporting will not only enhance government efficiency but also stimulate economic growth by ensuring that the DECD’s strategies align with the actual needs of the state's economy. However, there could be concerns regarding the burden of additional reporting on the DECD and whether it might strain resources or divert focus from critical initiatives.

Contention

While the bill has garnered support for its goals of enhancing economic transparency, some critics may raise concerns about its feasibility and the implications of requiring regular detailed reports. Questions may also emerge regarding the operational capacity of the DECD to fulfill the proposed requirements without additional funding or resources, creating a potential divide between legislative intent and practical implementation. This highlights the balance between fiscal prudence and the desire for comprehensive economic oversight.