Summary of Amended Substitute Senate Bill 2

• Establishes the Common Sense Initiative Office within the Governor's office to evaluate draft rules for adverse impacts on businesses using a business impact analysis instrument and to provide recommendations to agencies on reducing regulatory burden.

• Requires state agencies to conduct business impact analyses for draft rules, submit them to the Common Sense Initiative Office, wait at least 16 business days for recommendations, and file the analysis and agency response with proposed rules submitted for legislative review.

• Creates a Small Business Advisory Council with nine members appointed by the Governor, Senate President, and House Speaker to advise on the adverse impact of draft rules on small businesses.

• Authorizes the Joint Committee on Agency Rule Review to reject or invalidate proposed rules that have adverse impacts on businesses if the agency failed to adequately prepare a business impact analysis or demonstrate that regulatory intent justifies the impact.

• Removes the Office of Small Business from the electronic rule-filing system requirements and repeals section 121.24 of the Revised Code effective January 1, 2012, replacing it with new business rule review procedures focused on business impact analysis.