Small Business Economic Impact Analysis

Many regulations imposed by state agencies disproportionately impact small business owners, causing many to make tough decisions on cutting employees and changing business procedures to comply with newly imposed regulations.

The SBAC worked closely with lead sponsors State Representative Carol Sente (D-59) and Senator Pamela Althoff (R-32) in drafting the language and in building support from outside groups, including the National Federation of Small Businesses and Illinois Manufacturers Association, for this bipartisan legislation.

On August 3rd, SBAC-backed legislation was signed into law by the Governor to expand economic impact analysis when new rules are proposed by requiring state agencies to list the industries that will be impacted, and identify the types of impacts small businesses the proposed ordinance will have on small business owners. The Department of Commerce and Economic Opportunity (DCEO) will also place notification of all proposed rules affecting small businesses on its website.

Related Documents:
[100th GA Legislation: HB5253]
SBAC Press Release on Signing of HB5253