Honorable Angie Chen Button, Chair, House Committee on International Relations & Economic Development
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB1923 by Thierry (Relating to a study and report by the comptroller on local and state supply chain disruptions caused by the COVID-19 pandemic.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HB1923, As Introduced : a negative impact of ($500,000) through the biennium ending August 31, 2023.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
General Revenue-Related Funds, Five- Year Impact:
Fiscal Year
Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2022
($500,000)
2023
$0
2024
$0
2025
$0
2026
$0
All Funds, Five-Year Impact:
Fiscal Year
Probable (Cost) from General Revenue Fund 1
2022
($500,000)
2023
$0
2024
$0
2025
$0
2026
$0
Fiscal Analysis
The bill would require the Comptroller to conduct a study to identify and evaluate local and state supply chain disruptions caused by the COVID-19 pandemic. The study would assess the overall cost to the state, determine the number of jobs affected, and determine which industries were most affected by local and state supply chain disruptions caused by the pandemic. The bill would also require the Comptroller to recommend policies and procedures for maintaining effective supply chains in future health and economic crises.
The bill would require the Comptroller to report the results of the study and any recommendations for legislative or other action to aid in the state's recovery from the pandemic and prepare for future health and economic crises. The report would be submitted to the Governor and the Legislature by September 1, 2022.
According to the Comptroller's office, the agency would need to hire an outside contractor with the expertise necessary to conduct the study proposed by the bill.
Methodology
The Comptroller estimates a one-time cost of $500,000 to hire an outside contractor with the expertise necessary to assess costs to the state, impacts on jobs, and impacts on industry related to the COVID-19 pandemic.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.