HB5253 Summary

• Agencies proposing new rules or amendments affecting small businesses, nonprofits, or small municipalities must consider methods to reduce impact, including less stringent requirements, extended deadlines, simplified compliance, performance standards, or full exemptions.

• Agencies must provide opportunities for small businesses to participate in rulemaking through advance notice statements, publication in relevant trade publications, direct notification, public hearings, or special comment procedures.

• Agencies must prepare an economic impact analysis filed with proposed rules that identifies affected business types using North American Industry Classification System (NAICS) codes and describes impacts on hiring, regulatory requirements, purchasing, insurance, licensing fees, equipment, training, record keeping, and compensation.

• The Department of Commerce and Economic Opportunity must post notifications of all proposed rules affecting small businesses on its website, including agency impact analysis and Joint Committee on Administrative Rules summaries.

• Small business is defined as a business with fewer than 50 full-time employees or less than $4,000,000 in gross annual sales.