SB1389 (JLBC; economic impact) is a fairly simple bill. It would require the budget forecasting arm of the legislature, the Joint Legislative Budget Committee (JLBC), to reflect any significant fiscal impact of legislation on the state’s private sector economy, if practical, when preparing fiscal notes.
Basically, it requires the legislature to consider any potential economic impact particular legislation might have on the private sector and the thousands of small businesses and their employees in our state. Something I was surprised to learn wasn’t already being done at the state level.
Link to Fact Sheet on SB1389.
The bill has already passed out of the Senate Appropriations Committee but is currently awaiting a hearing in the Senate Rules Committee.