§965.5. Economic impact statements
Prior to the adoption of any proposed rule on or after July 1, 2009, that may have an adverse impact on small businesses, each agency shall prepare an economic impact statement that includes the following:
(1) An identification and estimate of the number of the small businesses subject to the proposed rule.
(2) The projected reporting, record keeping, and other administrative costs required for compliance with the proposed rule, including the type of professional skills necessary for preparation of the report or record.
(3) A statement of the 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 rule.
Acts 2008, No. 820, §1.
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