1.1                          A bill for an act 
  1.2             relating to commerce; providing for economic impact 
  1.3             statements on bills that regulate the activities of 
  1.4             businesses in this state; proposing coding for new law 
  1.5             in Minnesota Statutes, chapter 3. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [3.986] [ECONOMIC IMPACT STATEMENTS.] 
  1.8      Subdivision 1.  The commissioner of trade and economic 
  1.9   development shall cause to be prepared an economic impact 
  1.10  statement at the request of the first author of a bill if the 
  1.11  bill would regulate or tax the activities of a business or 
  1.12  category of business in this state.  The commissioner may 
  1.13  request assistance in preparing the economic impact statement 
  1.14  from other agencies of state government from which the 
  1.15  regulatory or taxing activity would proceed. 
  1.16     Subd. 2.  The economic impact statement shall: 
  1.17     (1) project the annual cost of compliance, administrative 
  1.18  and otherwise, to businesses in this state whose activities 
  1.19  would be regulated by the bill, including: 
  1.20     (i) product cost increases; 
  1.21     (ii) loss of revenue due to competitive barriers created; 
  1.22     (iii) additional personnel costs; 
  1.23     (iv) additional equipment costs; 
  1.24     (v) other costs, such as licensing and peer review; and 
  1.25     (vi) potential costs of increased litigation; 
  2.1      (2) cite the statutory provisions affected; and 
  2.2      (3) specify any long-range implications.  
  2.3      The economic impact statement may comment on technical or 
  2.4   mechanical defects in the bill, but must express no opinions 
  2.5   concerning the merits of the proposal. 
  2.6      Subd. 3.  A copy of the economic impact statement shall be 
  2.7   delivered to the first author of the bill, to the chair of the 
  2.8   standing committee to which the bill has been referred, and to 
  2.9   the commissioner of commerce. 
  2.10     Subd. 4.  The commissioner of trade and economic 
  2.11  development shall prescribe a uniform procedure to govern the 
  2.12  departments and agencies of the state in complying with the 
  2.13  requirements of this section.