Section 1341 - Microbusiness application and fees(a) A microbusiness license issued under Part B of this subchapter is valid for 2 years. Each application for a microbusiness license must contain all of the following: (1) The application materials required by the Commissioner.(2) The discounted application fee in the amount of $3,000.(3) Materials required § 1331(a)(3) and (a)(4) of this chapter.(b) A microbusiness licensee shall pay the Commissioner biennially for the microbusiness license at a discounted rate of 40% of the applicable open license. A microbusiness licensee must renew the license biennially by paying the fee required by this subsection and by providing confirmation that all of the criteria in § 1340 of this chapter are satisfied.Added by Laws 2023 , ch. 24, s 4.Section 15 of the enacting legislation provides that this section takes effect upon the later of the following: (a) Publication in the Register of Regulations of a notice by the Controller General that the funds required to implement this Act have been appropriated. (b) Upon enactment.