(1) The duties of the Commission on Small Business Innovation and Advocacy shall include but not be limited to:
(a) Coordinate and promote the awareness of the Federal Small Business Regulatory Enforcement Fairness Act of 1996, and its subsequent amendments within the small business community of the Commonwealth;
(b) Develop a process by which the small business community is made aware of state legislation and administrative regulations affecting it, both prior to its enactment and during its implementation;
(c) Advocate for the small business sectors when state legislation and administrative regulations are overly burdensome, costly, or harmful to the success and growth of the sector;
(d) Collect information and research those public policies and government practices which are helpful or detrimental to the success and growth of the small business community; and (e) Review administrative regulations that may impact small business. The commission may seek input from other agencies, organizations, or interested parties. In acting as an advocate for small business, the commission may submit a written report to the promulgating administrative body to be considered as comments received during the public comment period required by KRS 13A.270(1)(c). The report may specify the commission's findings regarding the administrative regulation, including an identification and estimate of the number of small businesses subject to the administrative regulation, the projected reporting, recordkeeping, and other administrative costs required for compliance with the administrative regulation, and any suggestions the commission has for reducing the regulatory burden on small businesses through the use of tiering or exemptions, in accordance with KRS 13A.210. A copy of the report shall be filed with the regulations compiler of the Legislative Research Commission.
(2) By September 1 of each year, the commission shall submit a report to the Governor, the Interim Joint Committee on Economic Development and Workforce Investment, and the Interim Joint Committee on Tourism, Small Business, and Information Technology detailing its work in the prior fiscal year, including but not limited to the following:
(a) Activities and achievements of the commission in accomplishing its purposes and duties;
(b) Findings of the commission related to its collection of information and research on public policies and government practices affecting small businesses, including specific legislation and administrative regulations that are helpful or detrimental to the success of small businesses; and (c) Specific recommendations of ways state government could better promote the economic development efforts of small businesses in the Commonwealth.
(3) Beginning December 1, 2012, and on every December 1 thereafter, the commission shall submit an annual report to the Secretary of State and the Legislative Research Commission setting forth an analysis of how the one-stop electronic business portal established in KRS 14.250 may be improved to make the business portal more user friendly for businesses.