CT SB00302

Increases the small business definition threshold from 75 to 250 full-time employees (or businesses with less than $5 million in gross annual sales), with agencies able to define small business up to 500 employees if necessary to address small business needs.

Requires agencies to prepare a regulatory flexibility analysis identifying the scope, affected business types, number of small businesses impacted, and required compliance costs (reports, recordkeeping, staffing, professional services, capital investments, training, taxes or fees).

Mandates agencies consider alternative compliance methods for small businesses including less stringent requirements, extended deadlines, simplified compliance procedures, performance standards, and potential exemptions.

Requires agencies to notify the Department of Economic and Community Development and relevant legislative committees before adopting regulations that may adversely impact small businesses.

Exempts emergency regulations, regulations not directly affecting small businesses, and regulations for service industries (nursing homes, day care, water companies, nonprofit agencies) from these requirements.