Mayor Adams Announces Reforms to 118 City Regulations

In mid-May New York City Mayor Eric Adams announced reforms to 118 City regulations meant to reduce burdens on and cut red tape for small businesses. The 118 reforms stem from Executive Order 2 (EO2) “Small Business Forward”  which required agencies to review existing business regulations and ensure local businesses face fewer needless fines and penalties without jeopardizing public health or safety. The reforms include the repeal of 30 provisions, the reduction of civil penalties associated with 49 provisions, and amendments to 39 provisions to include a first-time warning or cure period or to extend an existing cure period. The Small Business Advisory Commission, established earlier this month by Executive Order 15, will partner with the City to continue the work of cutting red tape, reducing fines, and introducing more cure periods and first-time warnings. It is estimated that this will help save up to $8.9 million annually for small businesses in the city. There is also a plan for the interagency working group which was created by EO2 to launch the City’s one-stop-shop online business portal to further aid in these efforts. Click here to read a press release about these reforms. 

Photo credit: The City Life (article)