(1) (a) A proposal notice pursuant to 2-4-302 must include a small business impact analysis. The small business impact analysis, at a minimum, must:
(i) identify by class or group the small businesses probably affected by the proposed rule; and
(ii) include a statement of the probable significant and direct effects of the proposed rule on the small businesses identified in subsection (1)(a)(i).
(b) If the agency proposes to adopt, increase, or decrease a monetary amount that a person shall pay or will receive, such as a fee, cost, or benefits, the analysis must include an estimate, if known, of:
(i) the cumulative amount for all persons of the proposed increase, decrease, or new amount; and
(ii) the number of persons affected.
(2) An agency is not required to prepare a separate small business impact analysis under this section if the agency pursuant to 2-4-405 is preparing or has prepared an economic impact statement regarding adoption, amendment, or repeal of a rule.
(3) The agency shall provide documentation for the estimates, statements, and descriptions required under subsection (1).
(4) The final adoption, amendment, or repeal of a rule is not subject to challenge in any court as a result of the inaccuracy or inadequacy of a small business impact analysis required under this section.