All bills introduced in the General Assembly to newly regulate a profession or business should be reviewed according to the following criteria. In evaluating whether a profession or business shall hereafter be regulated, the following factors shall be considered:

(1) Whether the unregulated practice of an occupation may harm or endanger the health, safety, and welfare of citizens of the state and whether the potential for harm is recognizable and not remote;

(2) Whether the practice of an occupation requires specialized skill or training and whether the public needs and will benefit by assurances of initial and continuing occupational ability;

(3) Whether the citizens of this state are or may be effectively protected by other means; and

(4) Whether the overall cost effectiveness and economic impact would be positive for citizens of the state.