WILLIAM DONALD SCHAEFER, Governor

(2) the effect on the work force or cost of housing; (3) efficiency in production and
marketing; and (4) capital investment, taxation competition, economic development, or
consumer choice, is an enormous expectation. Many people would have to be consulted in
the preparation of that statement, including units of State and local government and
business, trade, consumer, labor and other groups. In the framework of the legislative
process, it is unlikely that such an extensive evaluation could be completed in the very
short period of time available. This could have the unintended effect of increasing the
likelihood of enactment of legislation that may result in unforeseen or unanticipated costs
to small businesses.

I believe that the existing legislative process invites participation from all affected parties,
and gives business organizations full opportunity to bring information relating to potential
economic impact before the members of the General Assembly. Information concerning
the possible effects of pending legislation upon small business is routinely conveyed to the
General Assembly as part of the legislative hearing process. Direct input from affected
business groups who have firsthand knowledge of the potential effects of a legislative
proposal, has, and always will be, more informative and persuasive than the abstract,
composite projections of a third party.

For the above reasons, I have vetoed Senate Bill 415.

Sincerely,

William Donald Schaefer

Governor

Senate Bill No. 415

AN ACT concerning

General Assembly - Legislation - Economic Impact on Small Businesses

FOR the purpose of requiring the Department of Fiscal Services and the Department of
Legislative References to prepare an economic impact analysis rating and an
economic impact analysis concerning the effect. of certain legislation on small
businesses under certain circumstances; requiring certain agencies of the executive
branch of State government to prepare an economic impact analysis rating and an
economic impact analysis under certain circumstances; specifying the circumstances
and procedures applicable to the preparation and transmittal of economic impact
analysis ratings and economic impact analyses; specifying the legal effect of an
economic impact analysis rating and an economic impact analysis; requiring the
Department of Legislative Reference Fiscal Services to keep copies of economic
impact analysis ratings and economic impact analyses for a certain period of time;
providing that copies of economic impact analysis ratings and economic impact
analyses be reasonably available for public inspection; providing that economic
impact analysis ratings and economic impact analyses need not be published in
House or Senate Journals; defining certain terms; encouraging the members of the
General Assembly to take a certain action; requiring the Department of Economic
and Employment Development to adopt certain regulations by a certain date
requiring a unit of the State or local government to provide certain information

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S.B. 415