The Commission shall have the power and duty to:
1. Evaluate the impact of existing statutes and proposed legislation on small businesses.
2. Assess the Commonwealth's small business assistance programs and examine ways to enhance their effectiveness.
3. Provide small business owners and advocates with a forum to address their concerns.
4. Report annually its findings and recommendations to the General Assembly and the Governor. The chairman of the Commission shall submit to the General Assembly and the Governor an annual executive summary of the interim activity and work of the Commission no later than the first day of each regular session of the General Assembly. The executive summary shall be submitted as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents and reports and shall be posted on the General Assembly's website.