SMALL BUS-ECON IMPACT ANALYSIS

Amends the Illinois Administrative Procedure Act. Modifies the provisions requiring State agencies to issue an economic impact analysis when proposing new rules or amendments to rules that affect small businesses. Provides, among other requirements, that the economic impact analysis shall include: (1) a list of the industries that will have to comply with the proposed rule or amendment; (2) a statement of the impact on small businesses having less than 100 employees, and comparing specified cost factors; and (3) a description of the actions taken by the State agency to mitigate the costs to small businesses created by the proposed rule or amendment, and a description of the involvement of small business advocates in the development of the proposed rule or amendment. Provides that when any rule or amendment to an existing rule is proposed for which a small business economic impact analysis is required, the adopting State agency must provide notice to affected small businesses of the proposed rule through specified means. Makes conforming changes.