Enacted 06/16/14
A N A C T
RELATING TO STATE AFFAIRS AND GOVERNMENT -- REGULATORY FAIRNESS IN ADMINISTRATIVE PROCEDURES
Introduced By: Senators Lynch, Felag, Bates, Conley, and Miller
Date Introduced: February 27, 2014
It is enacted by the General Assembly as follows:
SECTION 1. Section 42-35.1-3 of the General Laws in Chapter 42-35.1 entitled "Small Business Regulatory Fairness in Administrative Procedures" is hereby amended to read as follows:
42-35.1-3. Economic Impact statements. -- (a) Prior
to the adoption of any proposed regulation that may have an adverse impact on
small businesses, with the exception of emergency regulations adopted in
accordance with subsection §42-35-3(b) and excluding those
businesses defined in subsection (c) of this section, each agency shall prepare
and submit, in conjunction with
assistance and oversight from the office of regulatory reform, the proposed regulations to both the governor's office and
the office of regulatory reform at least fifteen (15) days in advance of the
commencement of the formal rulemaking process, and in congruence
with the analysis required in subsection (b) of this section, an economic
impact statement that includes the following:
(1) An identification and estimate of the number of the small businesses subject to the proposed regulation;
(2) The projected reporting, recordkeeping, and other administrative costs required for compliance with the proposed regulation, including the type of professional skills necessary for preparation of the report or record;
(3) A statement of the effect or probable effect on impacted small businesses;
(4) A description of any less intrusive or less costly alternative methods of achieving the purpose of the proposed regulation.
(b) The economic impact statement
required herein shall be published in guide form as well as posted on the
department of administration and the office of management and budget websites.
The guide should be published and/or posted on or around the same date as the
regulation change and shall include a description of actions need needed
by the small business to meet the requirement of the regulation. The office of
regulatory reform shall develop criteria for the economic impact statement.
(c) The
following professional and business activities shall not be considered a small
business for purposes of this section:
(1)
Financial institutions including banks, trusts, savings and loan associations,
thrift institutions, consumer and industrial finance companies, credit unions,
mortgage and investment bankers and stock and bond brokers;
(2)
Insurance companies, both stock and mutual;
(3)
Mineral, oil and gas brokers;
(4)
Subdividers and developers;
(5)
Landscape architects, architects and building designers;
(6)
Entities organized as nonprofit institutions;
(7)
Entertainment activities and productions including motion pictures, stage
performances, television and radio stations and production companies;
(8) All
utilities, water companies and power transmission companies, except electrical
power generating transmission companies providing less than four and one-half
(4.5) kilowatts; and
(9) All
petroleum and natural gas producers, refiners and pipelines.
The following professional and business activities, extensively regulated pursuant to state and federal law and subject to significant capital requirements and other regulatory standards, shall be excluded from this section:
(1) All public utilities, as defined in § 39-1-2(20), whose rates are subject to approval by the public utilities commission; and
(2) All regulated institutions as defined in § 19-1-1(10); broker dealers as defined in § 7-11-101(1); and insurance companies chartered or licensed pursuant to chapters 1 and 2 of title 27.
SECTION 2. This act shall take effect upon passage.
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LC004240/SUB A
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