Bill Text: CT SB00088 | 2010 | General Assembly | Introduced
Bill Title: An Act Concerning Job Creation.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2010-02-09 - Referred to Joint Committee on Finance, Revenue and Bonding [SB00088 Detail]
Download: Connecticut-2010-SB00088-Introduced.html
General Assembly |
Proposed Bill No. 88 |
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February Session, 2010 |
LCO No. 454 | ||||
Referred to Committee on Finance, Revenue and Bonding |
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Introduced by: |
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SEN. MCKINNEY, 28th Dist. SEN. FASANO, 34th Dist. SEN. RORABACK, 30th Dist. |
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AN ACT CONCERNING JOB CREATION.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to create incentives for job growth, including: (1) Create a tax credit against the unemployment tax for businesses that hire and employ, for at least one hundred eighty days, individuals who have been unemployed for more than sixty days; (2) expand the jobs creation tax credit to all businesses, apply it to businesses that create at least one net new job and make the credit automatic; (3) create a "Next Generation Tax Credit" modeled on the film industry tax credit, to be applied to next generation industries, including alternative energy and nanotechnology; (4) repeal the business entity tax; (5) repeal the ten per cent corporate surcharge; (6) increase efficiencies and reduce duplicative functions across state agencies by creating a business permit office within the Office of Policy and Management to oversee all business permits at the state level and provide one-stop shopping for businesses; (7) reduce the number of new burdensome regulations and the cost of implementing and overseeing such regulations by requiring that any regulation submitted by a state agency for approval by the Regulations Review Committee shall be accompanied by a quantitative and qualitative assessment of the costs and benefits, to be reviewed by the Department of Economic and Community Development. If the department determines that the costs of such regulation outweigh the benefits such that it would have a net negative impact on economic activity in Connecticut, then the regulation may only be approved by a three-fifths vote of the Regulations Review Committee; (8) eliminate inefficient regulations and the state cost of administering them by requiring the Department of Economic and Community Development to conduct a qualitative and quantitative cost benefit analysis of all existing regulations. Such analysis shall be conducted over the next five years, with one-fifth of all regulations reviewed each year. The department shall submit a list of regulations for which the costs outweigh the benefits to the Regulations Review Committee annually on January first. Each such regulation shall be automatically repealed as of July first of that year unless three-fifths of the members of the Regulations Review Committee vote to maintain such regulation.
Statement of Purpose:
To provide incentives that will create more jobs in Connecticut and reduce the cost of administering ineffective regulations.