COLUMBIA - Gov. Mark Sanford signed a bill into law Tuesday that could ease the regulatory burdens of starting and running small businesses in South Carolina.

The Small Business Regulatory Flexibility Act establishes a permanent 11-person committee that will examine the impact of regulations on small businesses statewide.

"This bill is all about making life easier for our state's small businesses, which is a big step forward in stimulating job creation and economic growth in South Carolina," Sanford said.

Under the new law, any state lawmaker or agency wishing to propose a regulation to the General Assembly must first submit their plans to the not-yet-formed Regulatory Review Committee. The state-appointed panel will then examine the proposal and determine whether it poses a significant cost to small businesses.

The committee will not be able to block new regulations, but can make recommendations for changes.

Hunter Howard, president of the S.C. Chamber of Commerce, said the act will promote job and wage growth in the state by helping small businesses reduce their regulatory overhead and focus on expansion.

Other advocates agreed, saying regulatory costs are a bigger burden to small businesses because they lack the legal expertise and compliance officers that negotiate matters for their larger counterparts.

Nine other states have enacted similar regulatory flexibility laws in the past two years. Georgia and North Carolina currently have flexibility bills pending in their legislatures.