Small Business Regulatory Freedom Act establishes review and expiration processes for regulations.
The Small Business Regulatory Freedom Act mandates that state agencies conduct a formal review of all regulations every five years. The Small Business Regulatory Review Committee evaluates these regulations and recommends whether they should be retained or removed. Regulations must include an assessment report with a cost-benefit analysis. The act sets automatic expiration dates for regulations and requires retrospective assessment reports when regulations are reviewed for renewal.
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- Legal Framework
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