6571 AMH SCHI BLIN 143

SB 6571 - H AMD

By Representative Schindler

     On page 1, line 8, after "statement" insert "and a business economic impact statement"

     On page 1, line 15, after "statements" insert "and business economic impact statements"

     On page 2, after line 7, insert the following:

     "A business economic impact statement must include a brief description of any reporting, recordkeeping, and other compliance requirements of the proposed initiative or referendum, and the kinds of professional services that a business is likely to need in order to comply with such requirements.  It shall analyze the costs of compliance for businesses required to comply with the proposed initiative or referendum, including costs of equipment, supplies, labor, and increased administrative costs.  It shall consider, based on input received, whether compliance with the initiative or referendum will cause businesses to lose sales or revenue.  The impact statement must determine whether the proposed initiative or referendum will have a disproportionate impact on small businesses. To determine this, the impact statement must compare the cost of compliance for small business with the cost of compliance for the ten percent of businesses that are the largest businesses required to comply with the proposed initiative or referendums using one or more of the following as a basis for comparing costs:

     (a) Cost per employee;

     (b) Cost per hour of labor; or

     (c) Cost per one hundred dollars of sales.

The business economic impact statement must include a list of industries that will be required to comply with the initiative or referendum.  The office of financial management may survey a representative sample of affected businesses or trade associations and should, whenever possible, appoint a committee of representative businesses to assist in the accurate assessment of the costs of a proposed initiative or referendum, and the means to reduce the costs imposed on businesses.  The business economic impact statement must include both a summary, not exceeding one hundred words, and a more detailed statement that includes the assumptions that were made to develop the business impacts."

     On page 2, line 8, after "statements" insert "and business economic impact statements"

     On page 2, line 30, after "statement" insert "and business economic impact statement"

EFFECT:  Requires OFM to prepare business economic impact statements for ballot measures that qualify for the ballot, which are printed in the voters' pamphlet and posted on the Secretary of State's website.