§ 42-35.1-3 - Economic Impact statements. - Rhode Island Statutes

SECTION 42-35.1-3

   § 42-35.1-3  Economic Impact statements.– (a) Prior to the adoption of any proposed regulation that may have an adverseimpact on small businesses, excluding those businesses defined in subsection42-35-3.3(d), each agency shall prepare, in congruence with the analysisrequired in section 42-35-3.3, an economic impact statements that includes thefollowing:

   (1) An identification and estimate of the number of the smallbusinesses subject to the proposed regulation;

   (2) The projected reporting, recordkeeping, and otheradministrative costs required for compliance with the proposed regulation,including the type of professional skills necessary for preparation of thereport or record;

   (3) A statement of the probable effect on impacted smallbusinesses;

   (4) A description of any less intrusive or less costlyalternative methods of achieving the purpose of the proposed regulation.

   (b) The economic impact statement required herein shall bepublished in guide form as well as posted on the department of administrationand the of economic development corporation websites. The guide should bepublished and/or posted on or around the same date as the regulation change andshall include a description of actions need by the small business to meet therequirement of the regulation.