Bill designed to cut red tape on Illinois business signed into law
From Illinois Business Journal news services
SPRINGFIELD — A bill designed to snip the red tape faced by many small businesses has been signed into law.
With HB 3887, which was signed into law on Friday, state Sen. Jennifer Bertino-Tarrant, D-Shorewood, hopes to make that process as efficient as possible and help improve the state’s business climate.
“Small businesses are the backbone of our communities,” Bertino-Tarrant said. “This law is an important step in helping our business owners cut through the unnecessary red tape.”
HB 3887, which Bertino-Tarrant sponsored in the Senate, is designed to identify and eliminate state regulations that are unreasonable or overly burdensome to small businesses.
State agencies will now be required to complete an initial review of rules, regulations and processes related to small businesses within one year of the legislation becoming law. Subsequent reviews would take place every five years thereafter.
According to the Small Business Administration, small businesses employ 48 percent of the private-sector labor force in Illinois.
HB 3887 goes into effect on Jan. 1.