SMALL BUSINESS CZAR - S.B. 840: COMMITTEE SUMMARY
sans-serif">Senate Bill 840 (as introduced 11-12-03)
Committee: Economic Development, Small Business and Regulatory Reform
CONTENT
The bill would create a new act to establish the Office of Small Business Czar in the Department of Labor and Economic Growth (LEG), and require the Small Business Czar to do all of the following:
-- Devote his or her entire time to facilitating the creation and retention of small business jobs in the State.
-- Implement the portions of LEG’s strategic plan addressing small business creation and retention in the State.
-- Coordinate all programs within LEG and across government to create and retain small business jobs in the State.
-- Assist small business in the State.
-- Work to create a business environment that encouraged and sustained entrepreneurship in the State.
-- Work to empower entrepreneurs to take advantage of the opportunities offered by the market in the State.
The individual appointed Small Business Czar would have to have experience in creating jobs in the private sector. He or she would report directly to the LEG Director.
(The Department of Labor and Economic Growth is proposed by Executive Order 2003-18, which will take effect on December 7, 2003, unless rejected by the Legislature.)
- Legislative Analyst: Suzanne Lowe
FISCAL IMPACT
The bill does not include funding for the office of the Small Business Czar, which would include salary, fringe benefits, and any overhead costs. Without a designated fund source to cover these costs, they would be charged to the General Fund. According to the Department of Consumer and Industry Services, administrators’ salary and fringe benefits average approximately $80,000 annually.
- Fiscal Analyst: Maria TyszkiewiczS0304\s840sa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.