FL S7118

Revises notice of rule development requirements to specify the grant of rulemaking authority and the statute or law being implemented, and permits agencies to deliver advance notices electronically.

Expands the scope of public workshops to include information gathering for statements of estimated regulatory costs, and requires persons responsible for preparing rules and regulatory cost statements to be available at workshops and hearings.

Creates a presumption of adverse impact on small businesses if owners must spend 10+ hours or purchase professional advice to comply, or if taxes/fees increase by $500+, prices are restricted, trained employees are required, operating costs increase $1,000+, or capital expenditures exceed $1,000.

Authorizes agencies to file electronic hyperlinks to required documents with the committee instead of physical copies, and requires notices of change to include summaries of regulatory cost statements or explanations of why costs statements are not required.

Adds detailed factors for calculating compliance costs including labor, capital expenditures, professional services, education and training, and market impacts such as increased customer charges and decreased market value of goods and services, with a 5-year evaluation period for regulatory impacts.