Section 1 [Citation] provides that the new sections shall be referred to as the "Small Business Regulatory Relief Act."

Section 2 [Creation and purpose] creates and explains the purpose of the Small Business Regulatory Review Board.

Section 3 [Small Business Regulatory Review Board] Subdivision 1 provides a definition for “small business” as defined in statute. 

Subdivision 2 establishes the membership of the board to include six public members that are representatives of small business, and eight legislative members, as well as other details for the board. 

Subdivision 3 allows terms, removal, and vacancies, to be as prescribed in statute.

Subdivision 4 provides that board members serve without compensation.

Subdivision 5 requires the board to consult with an agency to find solutions that make an agency's proposed or existing rule less burdensome on small businesses.

Section 4 [Board review; report and recommendations] requires the board to review proposed and existing rules and required reports submitted to the board by agencies.  Requires the board to report and make recommendations on proposed rules or existing statutes, laws, or rules that impact small businesses.  Allows the committees with jurisdiction over the subject matter of the rule to follow the process established in statute when reports and recommendations are submitted by the board. 

Section 5 [Impact on small businesses] requires an agency proposing a new rule or amendments to a rule to explore ways of lessening the impact of the rule on small businesses and for agencies to submit a copy of the rules to the board. 

Section 6  [Review] requires each agency to review their statutes, laws, and rules annually to determine whether they impact small businesses.  Requires a report be submitted to the board by December 31 each year.

Section 7  [Sunset] provides that this act expires on June 30, 2016.

Section 8  [Effective date] makes sections 1 to 7 effective the day following final enactment.

CDF/syl