By James DeChene, Armitage DeChene & Associates
It was a busy week in Dover. Monday was the Delaware Economic and Financial Advisory Council's (DEFAC) May meeting. The Council revised its revenue forecast to add an additional $429 million dollars split between FY2021 and FY2022. In large part this comes as a result of conservative forecasts during prior meetings, and the COVID-19 pandemic not having as large an impact on revenues as predicted. The current forecast only takes into consideration stimulus money received in calendar year 2020, so the current American Rescue Plan impact has yet to be calculated. With many capital and infrastructure improvement projects planned using this stimulus money over the next two years, expectations are that Delaware will remain on secure fiscal footing, barring any extravagant spending by the General Assembly. Currently concerns remain low that inflation will play a large impact, though it was note the cost of consumer goods and commodities are on the rise.
In the General Assembly two State Chamber priority pieces of legislation saw movement this week.
Also of note this week was the release of SB93 from Senate Banking, Business and Insurance Committee related to auto-renewing or “Evergreen” contracts. The bill, among other things, establishes notification requirements from businesses to consumers that a contract is set to auto renew. Two amendments have been proposed, but have yet to be attached to the bill.
HB91, which establishes the definition of “unfair practice,” was also released from Senate Banking, Business and Insurance Committee. As previously noted, this bill was one where the Chamber, and other groups, weighed in to achieve a compromise amendment. This bill is now headed to the ready list for a full Senate vote.
The General Assembly will be out for the next two weeks for budget markup, and will return the week of June 7.