Rep. Derek Slap of West Hartford (D-19th) is co-sponsoring the Angel Investor Tax Credit Program and the Small Business Hotline, both bills designed to aid small businesses and which are expected to have bipartisan support.
State Rep. Derek Slap (D-West Hartford, Avon, Farmington) joined Speaker of the House Joe Aresimowicz (D-Berlin, Southington), House Majority Leader Matt Ritter (D-Hartford), and Commerce Committee House Chair Caroline Simmons (D-Stamford) at a news conference on Thursday to discuss bills aimed at helping small businesses grow and create new jobs.
The legislation has widespread support among the House Majority caucus, is supported by the Connecticut Business & Industry Association (CBIA), and is expected to gain the backing of minority Republicans. Both bills were the subject of a public hearing before the legislature’s Commerce Committee Thursday afternoon.
“There is nothing more important than balancing the budget and strengthening our economy so I’m pleased to lend my support to these important proposals,” said Slap. “We need to ensure small businesses have access to capital so they can thrive. Likewise, we should look to cut red-tape where possible and make government easier to navigate. I’m confident these legislative proposals, which I am co-sponsoring, will move us in the right direction and look forward to working in a bipartisan fashion to get them passed.”
Jamison Scott, executive vice president of Air Handling Systems in Woodbridge said “We are a Connecticut company committed to expanding our business here. Adding resources for small businesses and expanding access to working capital shows that the state is committed to creating a more welcoming business climate, and that we have leadership in Hartford that understands what needs to be done to encourage economic growth.” His company makes industrial ventilation HVAC supplies and employs 14 people.
HB 5583 would expand investment eligibility under the Angel Investor tax credit program by allowing accredited investors who seek to consult and mentor prospective small business owners to contribute to a fund established to support the growth of small businesses.
HB 5584 creates a statewide information hotline providing prospective and existing small business owners with customized advice, education, and network resources.