(a) Prior to initiating the rulemaking process as described in §§ 4-5-202(a)(2) and 4-5-203(a), all agencies shall conduct a review of whether a proposed rule or rule affects small businesses.
(b) Each agency shall, after June 21, 2007, employ a regulatory flexibility analysis utilizing regulatory methods that accomplish the objectives of applicable statutes while minimizing any adverse impact on small business. The agency shall consider, but not be limited to, each of the following methods of reducing the impact of the proposed rule on small businesses while remaining consistent with health, safety, and well-being:
(1) The extent to which the rule may overlap, duplicate, or conflict with other federal, state, and local governmental rules;
(2) Clarity, conciseness, and lack of ambiguity in the rule;
(3) The establishment of flexible compliance and reporting requirements for small businesses;
(4) The establishment of friendly schedules or deadlines for compliance and reporting requirements for small businesses;
(5) The consolidation or simplification of compliance or reporting requirements for small businesses;
(6) The establishment of performance standards for small businesses as opposed to design or operational standards required in the proposed rule; and
(7) The unnecessary creation of entry barriers or other effects that stifle entrepreneurial activity, curb innovation, or increase costs.
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