Expands scope of New Jersey Regulatory Flexibility Act dealing with economic impact of rules on small businesses.

This bill expands New Jersey's Regulatory Flexibility Act to require state agencies to assess how proposed rules impact small businesses (defined as those with under 100 employees or $6 million in annual sales). Agencies must now minimize economic burdens through tailored compliance options, simplified reporting, and performance-based standards - without compromising public health or safety. It also mandates agencies to review existing rules every seven years and creates a 90-day petition process for small businesses to challenge rules they claim unfairly harm them. The law aims to reduce regulatory costs while maintaining statutory goals.