Ill. Admin. Code tit. 1 § 220.450

Current through Register Vol. 48, No. 49, December 6, 2024

Section 220.450 - Small Business Impact Analysis

a) Within the first notice period, theDepartment of Commerce and Community Affairs (DCCA) shall prepare and submit to the Joint Committee an impact analysis of the proposed rule describing its effect on small businesses,whenever DCCA believes that an analysis is warranted or whenever requested to do so by 25 interested persons, an association representing at least 100 interested persons, the Governor, a unit of local government, or the Joint Committee. The second notice period cannot be commenced and the second notice will not be accepted by the Joint Committee until such analysis is submitted to the Joint Committee.

b) The impact analysis shall contain a discussion of the following factors:

1) Projected reporting, recordkeeping andcompliance requirements of the proposed rule;

2) Types of, and estimated number of,small businessesthatwill be affected by the proposed rule;

3) An estimate of the economic impact the regulation will have upon small businesses; and

4) Alternatives to the proposed rulethatwould minimize the economic impact of the rule upon small businesses. (Ill. Rev. Stat. 1991, ch. 127, par. 1005-30(c)) [5 ILCS 100/5-30(c) ]

Ill. Admin. Code tit. 1, § 220.450

Amended at 18 Ill. Reg. 4758, effective March 14, 1994