AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "SMALL BUSINESS REGULATORY FREEDOM ACT" BY AMENDING SECTION 1-23-115, RELATING TO ASSESSMENT REPORTS FOR REGULATIONS SUBMITTED FOR PROMULGATION, SO AS TO REQUIRE LEGISLATIVE APPROVAL OF REGULATIONS WITH AN ESTIMATED ECONOMIC IMPACT OF ONE MILLION DOLLARS OR MORE OVER A FIVE-YEAR PERIOD, AMONG OTHER THINGS; BY AMENDING SECTION 1-23-120, RELATING TO THE REGULATORY REVIEW AND APPROVAL PROCESS IN THE ADMINISTRATIVE PROCEDURES ACT, SO AS TO REMOVE OBSOLETE PROVISIONS; BY AMENDING SECTION 1-23-270, RELATING TO REGULATORY FLEXIBILITY ANALYSES UNDER THE SOUTH CAROLINA SMALL BUSINESS REGULATORY FLEXIBILITY ACT, SO AS TO REMOVE OBSOLETE PROVISIONS; BY AMENDING SECTION 1-23-380, RELATING TO JUDICIAL REVIEW OF AGENCY DECISIONS, SO AS TO REQUIRE DE NOVO REVIEW OF STATUTES AND REGULATIONS; BY AMENDING SECTION 1-23-610, RELATING TO JUDICIAL REVIEW OF ADMINISTRATIVE LAW COURT FINAL DECISIONS, SO AS TO REQUIRE DE NOVO REVIEW OF STATUTES AND REGULATIONS; BY ADDING ARTICLE 4 TO CHAPTER 23, TITLE 1, SO AS TO PROVIDE FOR PERIODIC LEGISLATIVE AUDIT COUNCIL REVIEW OF AGENCY REGULATIONS AND TO PROVIDE RELATED REQUIREMENTS OF STATE AGENCIES; BY AMENDING SECTION 2-15-60, RELATING TO DUTIES OF THE LEGISLATIVE AUDIT COUNCIL, SO AS TO MAKE CONFORMING AND OTHER RELATED CHANGES; BY AMENDING SECTION 1-23-110, RELATING TO PUBLIC PARTICIPATION IN THE PROMULGATION OF REGULATIONS, SO AS TO PROVIDE THAT RELATED SUBMISSIONS MUST BE PROVIDED TO THE SMALL BUSINESS REGULATORY REVIEW COMMITTEE; AND BY AMENDING SECTION 1-23-280, RELATING TO THE COMPOSITION OF THE SMALL BUSINESS REGULATORY REVIEW COMMITTEE, SO AS TO INCLUDE ADDITIONAL NONVOTING LEGISLATIVE EX OFFICIO MEMBERS. - RATIFIED TITLE