Finney Advances Bill to Help Small Business

Nashville, Tenn. –Sen. Raymond Finney (R-Maryville) won approval for Senate Bill 55 in the Senate Commerce, Labor and Agriculture Committee on Tuesday.  The bill proposes to enact the “Regulatory Flexibility Act of 2007” to provide relief for small business in Tennessee.

“Small businesses are the backbone of Tennessee business,” said Finney in the Senate Committee. “We are simply asking the government to make sure small businesses are not overburdened by unnecessary regulations and rules.”

The bill says that each agency and department shall review “whether a proposed rule or regulation affects small business”.  The bill would also require each agency and department to submit an economic impact statement before adopting any proposed regulation.

Senate Bill 55 would expand and codify a program implemented by Gov. Bredesen through Executive Order No. 38.

“Thirty states have similar laws in place,” continued Finney.  “It is estimated that $7.2 million has been saved by these states eliminating unnecessary regulations.”

The bill will now go to the full Senate for action.  

Finney is the chairman of the Senate Calendar Committee, and serves on the Senate Finance, Ways and Means Committee, the Senate General Welfare, Health and Human Resources Committee and the Senate Environment, Conservation and Tourism Committee.  He represents Blount and Sevier Counties.

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