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House Bill Analysis — HB 1778, Economic Resilience Planning (Office of Program Research, 2/8/23)

Summary

House of Representatives Office of Program Research bill analysis of HB 1778, concerning economic resilience planning, sponsored by Representatives Volz and Ryu, with a hearing date of 2/8/23. The analysis says the bill requires the Department of Commerce to report to the Legislature by July 1, 2024, on the anticipated economic impacts of a major disruption to trade with any of Washington's top trading partners, with policy recommendations on business assistance for affected exporters and their employees. It also requires the Department to prioritize diversifying foreign export destinations and to eliminate economic dependence on any particular foreign market. The analysis lists the appropriation as None and says a fiscal note was requested on February 6, 2023.

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“House Bill Analysis — HB 1778, Economic Resilience Planning (Office of Program Research, 2/8/23).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2023-02-17-a30791-d252073-bill-analysis-44880d373e/, SHA-256 d45fcd43d381988b253b48d049bca1ccb3af56afb589c6635e3248991c713ea4.

Full text

Washington State                  BILL
House of Representatives
Office of Program Research   ANALYSIS
Innovation, Community & Economic
Development, & Veterans Committee
                                        HB 1778
Brief Description: Concerning economic resilience planning.

Sponsors: Representatives Volz and Ryu.


                                     Brief Summary of Bill
          • Requires the Department of Commerce (Department) to report to the
            Legislature on the anticipated economic impacts in the event of a major
            disruption to trade with any of Washington's top trading partners.
          • Requires the Department to prioritize diversifying foreign export
            destinations and to eliminate economic dependence on any particular
            foreign market as part of its trade-related responsibilities.


Hearing Date: 2/8/23

Staff: Emily Poole (786-7106).

Background:

The Department of Commerce (Department) is responsible for growing and improving jobs in
Washington, facilitating innovation, and streamlining access to business assistance and economic
development services by providing them through sector-based, cluster-based, and regional
partners. The Department's duties also include assisting in expanding the state's role as an
international center of trade, promoting the state's products and services both nationally and
internationally, and working in close cooperation with private and public international trade
efforts. In connection with these efforts, the Department is required to identify and work with
Washington businesses that can use assistance to increase domestic and foreign exports of goods




     This analysis was prepared by non-partisan legislative staff for the use of legislative
     members in their deliberations. This analysis is not part of the legislation nor does it
     constitute a statement of legislative intent.

House Bill Analysis                             -1-                                         HB 1778
and services.

Summary of Bill:

The Department is required to report to the Legislature by July 1, 2024, on the anticipated
economic impacts in Washington in the event of a major disruption to trade with any of
Washington's top trading partners. The Department is also required to make policy
recommendations regarding how the Department could be equipped to provide business
assistance to affected exporters and their employees in the event of such a disruption. The report
must include a description of current efforts to diversity trade relationships and decrease reliance
on any one particular trading partner.

In carrying out the Department's responsibilities with regard to trade, the Department is required
to prioritize diversifying foreign export destinations and to eliminate economic dependence on
any particular foreign market.

Appropriation: None.

Fiscal Note: Requested on February 6, 2023.

Effective Date: The bill takes effect 90 days after adjournment of the session in which the bill is
passed.




House Bill Analysis                             -2-                                         HB 1778

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