The "Small Business Regulatory Freedom Act" seeks to improve the regulatory review process for small businesses in South Carolina by establishing the Small Business Regulatory Review Committee. This committee will conduct initial reviews of regulations pending reauthorization and make recommendations to the General Assembly regarding their retention or removal. The bill mandates a 25% reduction in the overall regulatory burden on businesses and requires state agencies to provide necessary information to the committee. Additionally, it stipulates that agencies cannot create new regulations without explicit statutory authority and must eliminate two existing regulations for every new one proposed.

The legislation also amends the Administrative Procedures Act, introducing requirements for assessment reports that accompany proposed regulations, including a cost-benefit analysis. It establishes automatic expiration dates for regulations, mandates periodic reviews, and allows for judicial challenges based on a lack of statutory authority. The bill outlines a process for legislative review, including a tolling of the automatic approval period upon the introduction of a disapproval resolution and specifies that regulations cannot be filed under emergency provisions if a disapproval resolution is pending. Furthermore, it sets a two-year limit for regulations to become effective, with provisions for extensions, and requires a formal review of all regulations every five years. The act is scheduled to take effect on July 1, 2026.

Statutes affected:
01/21/2025: 1-23-285, 1-23-110, 1-23-115, 1-23-120, 1-23-380
Latest Version: 1-23-285, 1-23-110, 1-23-115, 1-23-120, 1-23-380