<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 1-26-2.1 - Small business impact statements--Content--Small business defined.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s56cfd47c36804af3b8d805918ccbb30eNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s56cfd47c36804af3b8d805918ccbb30eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s56cfd47c36804af3b8d805918ccbb30eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s56cfd47c36804af3b8d805918ccbb30eStatute { text-indent: 0.50in; text-align: justify; 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font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s56cfd47c36804af3b8d805918ccbb30eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 1-26-2.1 - Small business impact statements--Content--Small business defined."><meta property="og:description" content="SDLRC Codified Law 1-26-2.1 - Small business impact statements--Content--Small business defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/1-26-2.1"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=1-26-2.1" rel="noopener"><span class="s56cfd47c36804af3b8d805918ccbb30eSENU">1-26-2.1</span></a><span xml:space="preserve" class="s56cfd47c36804af3b8d805918ccbb30eSENU">. </span><span class="s56cfd47c36804af3b8d805918ccbb30eCL">Small business impact statements--Content--Small business defined.</span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eStatute"><span class="s56cfd47c36804af3b8d805918ccbb30eDefaultParagraphFont">An agency shall, when submitting any proposed rule that will have a direct impact on small business, prepare an impact statement that includes the following:</span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eStatuteNumber1"><span class="s56cfd47c36804af3b8d805918ccbb30eDefaultParagraphFont">(1)    A narrative explanation in plain, easy-to-read language of the effect of the rule on small business, the basis for its enactments, and why the rule is needed;</span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eStatuteNumber1"><span class="s56cfd47c36804af3b8d805918ccbb30eDefaultParagraphFont">(2)    An identification and estimate of the number of small businesses subject to the proposed rule;</span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eStatuteNumber1"><span class="s56cfd47c36804af3b8d805918ccbb30eDefaultParagraphFont">(3)    The projected reporting and recordkeeping required for compliance with the proposed rule, including the types of professional skills necessary for preparation of the report or record; and</span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eStatuteNumber1"><span class="s56cfd47c36804af3b8d805918ccbb30eDefaultParagraphFont">(4)    A description of any less intrusive or less costly alternative methods of achieving the purpose of the proposed rule.</span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eStatute"><span class="s56cfd47c36804af3b8d805918ccbb30eDefaultParagraphFont">An agency is only required to use readily available information and existing resources to prepare the impact statement.</span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eStatute"><span class="s56cfd47c36804af3b8d805918ccbb30eDefaultParagraphFont">For purposes of this section, "small business" means a nongovernmental entity that employs twenty-five or fewer full-time employees.</span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eNormal"><span xml:space="preserve" class="s56cfd47c36804af3b8d805918ccbb30e000000"> </span></p><p dir="ltr" class="s56cfd47c36804af3b8d805918ccbb30eNoIndent"><span xml:space="preserve" class="s56cfd47c36804af3b8d805918ccbb30eDefaultParagraphFont-000001">Source: </span><span class="s56cfd47c36804af3b8d805918ccbb30eSCL">SL 2004, ch 20, § 2; SL 2006, ch 8, § 1; SL 2025, ch 9, § 5.</span></p></div></body></html>