§ 4-22-2.1-5 — Rules affecting small businesses; economic impact statement required

Indiana § 4-22-2.1-5

• Jurisdiction: Indiana
• Art. 22: ADMINISTRATIVE RULES AND PROCEDURES
• Ch. 2.1: Rules Affecting Small Businesses

Text

(a) If an agency intends to adopt a rule under
IC 4-22-2 that will impose requirements or costs on small businesses,
the agency shall prepare a statement that describes the annual
economic impact of a rule on all small businesses after the rule is fully
implemented. The statement required by this section must include the
following:
(1) An estimate of the number of small businesses, classified by
industry sector, that will be subject to the proposed rule.
(2) An estimate of the average annual reporting, record keeping,
and other administrative costs that small businesses will incur to
comply with the proposed rule.
(3) An estimate of the total annual economic impact that
compliance with the proposed rule will have on all small
businesses subject to the rule.
(4) A statement justifying any requirement or cost that is:
(A) imposed on small businesses by the rule; and
(B) not expressly required by:
(i) the statute authorizing the agency to adopt the rule; or
(ii) any other state or federal law.
The statement required by this subdivision must include a
reference to any data, studies, or analyses relied upon by the
agency in determining that the imposition of the requirement or
cost is necessary.
(5) A regulatory flexibility analysis that considers any less
intrusive or less costly alternative methods of achieving the
purpose of the proposed rule. The analysis under this subdivision
must consider the following methods of minimizing the economic
impact of the proposed rule on small businesses:
(A) The establishment of less stringent compliance or reporting
requirements for small businesses.
(B) The establishment of less stringent schedules or deadlines
for compliance or reporting requirements for small businesses.
(C) The consolidation or simplification of compliance or
reporting requirements for small businesses.
(D) The establishment of performance standards for small
businesses instead of design or operational standards imposed
on other regulated entities by the rule.
(E) The exemption of small businesses from part or all of the
requirements or costs imposed by the rule.
If the agency has made a preliminary determination not to
implement one (1) or more of the alternative methods considered,
the agency shall include a statement explaining the agency's
reasons for the determination, including a reference to any data,
studies, or analyses relied upon by the agency in making the
determination.
(b) The agency shall submit a copy of the notice of the first public
comment period and regulatory analysis published under IC 4-22-2-23
to the small business ombudsman not later than the publication of the
notice of the first public comment period.

Legislative History

As added by P.L.188-2005, SEC.4. Amended by P.L.1-2006, SEC.75; P.L.123-2006, SEC.17; P.L.110-2010, SEC.5; P.L.187-2014, SEC.11; P.L.109-2015, SEC.16; P.L.249-2023, SEC.40; P.L.93-2024, SEC.18.