SB 570
Requiring economic impact statements for certain legislative rules
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill requires state agencies to include an ‘economic impact statement’ with proposed legislative rules. These statements must analyze the potential costs and benefits of the rule, considering factors like regulatory costs, business productivity, job creation, and economic growth. The Legislative Rule-Making Review Committee will review these statements to determine if the proposed rule should be authorized by the Legislature.
Key provisions
- Requires agencies to include an ‘economic impact statement’ with proposed legislative rules.
- Defines ‘economic impact statement’ to include specific factors like regulatory costs, business productivity, and job creation.
- Authorizes the Legislative Rule-Making Review Committee to request economic impact statements.
- Establishes a process for agencies to promulgate emergency rules and outlines conditions for their expiration.
- Specifies requirements for submitting proposed rules to the Legislative Rule-Making Review Committee, including fiscal notes and a description of the rule’s purpose.
- Requires agencies to file proposed rules with the Legislative Rule-Making Review Committee and the State Register.
- Defines various terms related to rulemaking, such as ‘legislative rule’ and ‘interpretive rule’.
- Mandates that the Legislative Rule-Making Review Committee review proposed rules and provide recommendations to the Legislature.
Who is affected
- State Agencies
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