1. (1)

   1. (a) A proposal notice pursuant to 2-4-302 must include a small business impact analysis. The small business impact analysis, at a minimum, must:

      1. (i) identify by class or group the small businesses probably affected by the proposed rule; and
      2. (ii) include a statement of the probable significant and direct effects of the proposed rule on the small businesses identified in subsection (1)(a)(i).

   2. (b) If the agency proposes to adopt, increase, or decrease a monetary amount that a person shall pay or will receive, such as a fee, cost, or benefits, the analysis must include an estimate, if known, of:

      1. (i) the cumulative amount for all persons of the proposed increase, decrease, or new amount; and
      2. (ii) the number of persons affected.
2. (2) An agency is not required to prepare a separate small business impact analysis under this section if the agency pursuant to 2-4-405 is preparing or has prepared an economic impact statement regarding adoption, amendment, or repeal of a rule.
3. (3) The agency shall provide documentation for the estimates, statements, and descriptions required under subsection (1).
4. (4) The final adoption, amendment, or repeal of a rule is not subject to challenge in any court as a result of the inaccuracy or inadequacy of a small business impact analysis required under this section.

History: En. Sec. 1, Ch. 318, L. 2013; amd. Sec. 4, Ch. 695, L. 2025.