Bill introduced late in session aims to provide regulatory relief for small businesses

A bill has been introduced that would require state agencies to assess the costs of regulations on small businesses while providing more transparency in the rule-making process.

Sponsored by State Rep. Charles Postles, R-Milford, House Bill 167 would mandate that state agencies adopting or amending regulations conduct an economic impact statement to be published as part of the proposal’s public notice process.

Provisions include:

  • – Identifying the type and number of small businesses subject to the proposed regulation.
  • The projected reporting, record keeping, and other administrative costs required for compliance.
  • The probable effect on impacted small businesses.
  • And a description of any less intrusive or less costly alternative methods of
    achieving the goal of the proposed regulation.
  • Within four years of the bill’s enactment, state agencies would need to review all existing small business regulations to determine if they should be amended or repealed to minimize the economic impact. All regulations promulgated after the law takes effect would be reviewed every five years.

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