SB 8X 60, or the “Jobs Protection Act” will require any bill that has an economic impact on California business to be sent to an existing joint committee for the preparation of an economic impact analysis and hearing. SB 8X 60 is in response to the ever-growing burdensome regulations and mandates, in addition to the high tax rates and red tape that have made California a hostile climate in which to do business.
The California business community is the starting point for job creation and getting our economy back on track. In order to protect jobs, we must protect businesses. The global recession is a convenient scapegoat for California’s economic ills – and certainly a factor – but overregulation has been driving businesses out of this state for years, and good jobs with them.
The Census Bureau’s 2010 Statistical Abstract of the United States provides that one of every six American employers that closed permanently in 2008 was in California. Our state experienced 45% more business closures than launches, compared to 10.5% nationally. By the end of that year there were almost 47,000 fewer businesses in California than in 2007. SB 8X 60 attempts to put an end to this disturbing trend.
Specifically, SB 8X 60 will,
• Add an economic impact analysis to the duties of the existing Joint Committee on Boards, Commissions and Consumer Protections. The bill will also rename the committee, The Joint Committee on Boards, Commissions and Consumer or Business Protections.
• Require any bill that contains a tax, fee, or regulation of a specific industry; environmental impact report (EIR); adds burdens to the state economy; imposes additional burdens on insurers; increases workers’ compensation, disability, or health insurance requirements; or affecting housing costs or the housing market; be assigned to the committee for the preparation of the economic impact analysis.
• If the economic impact analysis finds that the bill will cost a small business over $10,000, or any other business over $50,000, it will automatically send the bill to a suspense file.
Senator Harman welcomes your support and input of this important legislation. If you would like to be of assistance, please contact Megan Stineman in his Capitol office at (916) 651-4035.
Senator Tom Harman