NJBIA is urging the Senate Budget and Appropriations Committee to support legislation that would help streamline government regulations by enhancing the regulatory flexibility act.
The New Jersey Business & Industry Association (NJBIA) has long supported the bill as a way to make it easier for small businesses to succeed here, Vice President of Government Affairs Andrew Musick said.
“Enhancing the Regulatory Flexibility Act will help minimize the impact of rules and regulations on small businesses, allowing entrepreneurs and small business owners to focus on running their businesses, generating economic activity and creating jobs,” Musick said.
The bill, S-2345 (Bucco, R-25; Singleton, D-7), would enhance the state’s Regulatory Flexibility Act by requiring agencies to consolidate or simplify compliance or reporting requirements for small businesses, as long as the public health, safety, or general public welfare is not endangered. It also would establish a process for small businesses to petition the agency directly if they are adversely affected by the rule. If the agency rejects the petition, the businesses can appeal to the courts.
According to the U.S. Small Business Administration, small businesses represent over 99 percent of all businesses located in New Jersey, Musick pointed out.
The provision of the bill would apply to businesses that employ fewer than 100 full-time employees or having gross annual sales of less than $6 million. Agencies would be required to consider the impact of existing rules on small businesses when they are proposing to continue them beyond the expiration date.