This bill proposes the establishment of a process for conducting business impact analyses on proposed legislation in Minnesota. It introduces new legal language under section [3.99] that defines key terms such as "business" and "business impact," and outlines the responsibilities of the Legislative Budget Office in preparing business impact notes upon request from legislative committee members. The notes must estimate the financial impact on businesses, including direct expenditures, revenue changes, and regulatory burdens, while also indicating whether the bill increases or decreases these burdens.

Additionally, the bill includes an appropriation of funds for the Legislative Budget Office to carry out these duties, specifying that a certain amount will be allocated from the general fund for fiscal year 2026. The business impact notes are required to provide clear assumptions and data supporting their estimates and may suggest alternative methods to achieve the bill's objectives if they are deemed less burdensome for businesses.