Commerce Committee
JOINT FAVORABLE REPORT
Bill No.: HB-5481
AN ACT ESTABLISHING A GRANT PROGRAM FOR WOMEN AND MINORITY-
Title: OWNED BUSINESSES.
Vote Date: 3/22/2021
Vote Action: Joint Favorable Substitute
PH Date: 2/16/2021
File No.: 334
Disclaimer: The following JOINT FAVORABLE Report is prepared for the benefit of the
members of the General Assembly, solely for purposes of information, summarization and
explanation and does not represent the intent of the General Assembly or either chamber
thereof for any purpose.
SPONSORS OF BILL:
Commerce Committee
REASONS FOR BILL:
HB 5481 will implement a grant to provide financial assistance for women and minority owned
businesses to offset their economic losses, promote employment, and progress gender and
racial equity going forward.
RESPONSE FROM ADMINISTRATION/AGENCY:
None expressed.
NATURE AND SOURCES OF SUPPORT:
CT Womens Education and Legal Fund (CWEALF) supports HB 5481. They provide
evidence demonstrating the negative impact from COVID-19 on these businesses. For
example, black-owned businesses in 2020 experienced a 41% decline in economic activity
while white-owned businesses experienced a 17% decline. Furthermore, 1.9 million of the 2
million Black-owned businesses in the United States do not have paid employees, and this
bill will provide minority-owned companies in CT more funds to hire and retain employers.
Also, women-owned businesses represent 42% of all businesses and are dominate in
industries including healthcare, social services, educational services, and retail trade. These
industries were the most impacted during the pandemic and thus need financial assistance.
CWEALF believes HB 5481 will provide economic recovery from COVID-19 and promote
racial and gender equity.
The Hartford Foundation for Public Giving inspires to increase stable employment
opportunities for adults and youth in region facing barriers to employment, particularly Black
and Latinx residents. They believe that increasing capital access for Black and Latinx
businesses will promote racial economic equity and expedite CTs recovery from the
pandemic.
The Middle Sex County Chamber of Commerce requested the Connecticut General
Assembly to support businesses impacted by the COVID-19 pandemic. They note the large
impact on minority and women-owned businesses during the pandemic and thus support the
implementation of HB 5481.
Kelly McConney Moore, Interim Senior Policy Counsel for the American Civil Liberties
Union of Connecticut (ACLU-CT), reviews the impact that COVID-19 had on minority and
women-owned businesses. She states that providing access to capital for these businesses
is a critical piece of pandemic recovery equity. She also emphasizes the definition of equity:
giving individuals from oppressed backgrounds fair outcomes relative to the privileged.
Michelle Noehren, a resident of the town of Colchester, states that her town has over 30
woman-owned businesses. These businesses are essential to her towns character and
community and have suffered greatly during the pandemic. She supports HB 5481 to
subsidize these businesses and stimulate CTs economy.
NATURE AND SOURCES OF OPPOSITION:
None expressed.
Reported by: Jade Hardrick, Intern Date: 4/6/21
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