(1) Notwithstanding any other law of this state, any agency authorized to assess administrative penalties or administrative fines upon a business may waive or reduce any administrative penalty or administrative fine for a violation of any statute, ordinance, or rules by a small business under the following conditions: The small business corrects the violation within thirty (30) days or less after receipt of a notice of violation or citation;
(2) The violation was the result of an excusable misunderstanding of an agency’s interpretation of a rule; or
(3) The agency determines that the small business is making a good-faith effort to comply with the statute, ordinance or rule.
(4) Subsection (1) of this section shall not apply when: A small business fails to exercise good faith in complying with the statute, ordinance or rule;
(5) A violation involves criminal conduct;
(6) A violation results in serious health, safety or environmental impact; or
(7) The penalty or fine is assessed pursuant to a federal law or regulation and for which no waiver or reduction is authorized by the federal law or regulation.