Ch. 121

1995 LAWS OF MARYLAND

BY adding to                                                                                                   

Article - State Government                                                                                     

Section 2-1505.1

Annotated Code of Maryland

(1993 Replacement Volume and 1994 Supplement)

Preamble

WHEREAS, Small business has always been an important component of the
Maryland economy; and

WHEREAS, The importance of small business as a generator of jobs is even greater
in today's highly competitive and entrepreneurial driven global economy; and

WHEREAS, Legislation often imposes a disproportionate financial burden on small
business; and

WHEREAS, There is a need for a more systematic and consistent means for
evaluating the impact of other legitimate public policy considerations on the operations
and growth of small business; now, therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - State Government

2-1505.1.                                                                                                         

(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(2)      "ECONOMIC IMPACT ANALYSIS" MEANS AN ESTIMATE OF THE COST
OR THE ECONOMIC BENEFIT TO SMALL BUSINESSES THAT MAY BE AFFECTED BY A
PROPOSED BILL INTRODUCED AT A SESSION OF THE GENERAL ASSEMBLY.

(3)      "ECONOMIC IMPACT ANALYSIS RATING" MEANS AN ESTIMATE THAT
A PROPOSED BILL WILL HAVE:

(I)       MINIMAL OR NO ECONOMIC IMPACT ON SMALL BUSINESSES;
OR

(II)     MEANINGFUL ECONOMIC IMPACT ON SMALL BUSINESSES.

(4)      "SMALL BUSINESS" MEANS A CORPORATION, PARTNERSHIP, SOLE
PROPRIETORSHIP, OR OTHER BUSINESS ENTITY, INCLUDING ITS AFFILIATES, THAT:

(I)      IS INDEPENDENTLY OWNED AND OPERATED;

(II)     IS NOT DOMINANT IN ITS FIELD; AND

(III)    EMPLOYS 50 OR FEWER FULL-TIME EMPLOYEES.

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