On behalf of our member companies that provide more than 1 million jobs in the state and make the New Jersey Business & Industry Association the largest statewide business association in the country, we are writing to express our SUPPORT of S-2345 (Bucco, Singleton). The bill expands the scope of New Jersey’s Regulatory Flexibility Act, dealing with the economic impact of rules on small businesses.
According to the U.S. Small Business Administration, small businesses represent over 99 percent of all businesses located in New Jersey. S-2345 enhances New Jersey’s Regulatory Flexibility Act (RFA) by taking additional steps to recognize and address the impact regulations have on small businesses.
Specifically, the bill promotes a more simplified reporting process, and requires regulatory agencies to more appropriately contemplate the impact their regulations have on small businesses. Furthermore, there is an opportunity for judicial review if a small business owner petitions the department or agency, based on the assertion that the agency failed to comply with the act, or if the regulatory flexibility analysis was incomplete.
NJBIA urges you to vote “YES” on S-2345 when it is considered by the Senate Budget and Appropriations Committee on December 3, 2018. We appreciate your consideration of our request and should you have any questions, please feel free to reach out to me at 609-858-9512.