Bill
HD 3247
Overview: Bill Number: HD 3247, Title: An Act promoting microbusiness and small business assistance transparency, Status: Senate concurred, Introduced: February 27, 2025Purpose and
Overview: Bill Number: HD 3247, Title: An Act promoting microbusiness and small business assistance transparency, Status: Senate concurred, Introduced: February 27, 2025
Purpose and Intent: This bill aims to improve transparency and accountability in the delivery of small business assistance programs. The legislation seeks to ensure that these programs are effectively reaching and supporting microbusinesses and small businesses.
Key Provisions:
- Requires state agencies and economic development organizations to publicly report on the utilization and outcomes of their small business assistance programs
- Mandates the collection and publication of data on the demographics, industry sectors, and geographic distribution of program participants
- Establishes performance metrics and targets to measure the effectiveness of small business assistance initiatives
Affected Parties and Impacts:
- Microbusinesses and small businesses will benefit from increased transparency and accountability in the delivery of assistance programs
- State agencies and economic development organizations will be required to enhance their data collection and reporting practices
- Policymakers and the general public will have access to more comprehensive information to evaluate the impact of small business support programs
Procedural and Timeline Considerations:
- The bill has been passed by the Senate and is currently awaiting the Governor's signature to become law
- If enacted, the new reporting and transparency requirements would likely take effect within the next fiscal year, allowing agencies time to implement the necessary data collection and reporting systems
Compiled from official sources — confirm details with the bill’s official record.
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