Great News: Big I NY-Supported Regulatory Relief Bill Signed
Governor Cuomo has signed legislation that will help ease burdens on small businesses by implementing a “cure period" in which to correct minor regulatory violations. The cure period is granted upon a first-time violation of a state agency's rules or regulations related to paperwork submitted or actions and omissions that are “de minimus". A regulatory agency must provide a small business (defined as a New York resident business with less than 100 employees that is not dominant in its field) no less than 90 days to remedy the violation. If the violation is corrected during the cure period, no penalties are issued. The cure period…