7/12/07-A new law in Tennessee is intended to strengthen safeguards for the state’s 513,000 small businesses in the state, including trucking operations.
Gov. Phil Bredesen signed the bill into law requiring state agencies to prepare an economic impact statement about the small businesses affected by proposed state regulations. It also requires a regulatory flexibility analysis that includes an agency’s consideration of less burdensome ways of achieving the rule’s purpose.
The new law, previously SB55, also revises the definition of small businesses in the state. Those businesses are defined as having 50 or fewer full-time employees.