SB 163
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 conduct economic impact statements for certain proposed legislative rules. These statements must consider factors like regulatory costs, business competitiveness, job creation, and investment. Agencies must submit these statements to the Legislative Rule-Making Review Committee, which will review them for potential impacts. The bill also addresses emergency rules and establishes a process for their review and expiration.
Key provisions
- Requires agencies to include economic impact statements with proposed legislative rules.
- Defines ‘economic impact statement’ to include various factors like regulatory costs, business competitiveness, and job creation.
- Mandates submission of economic impact statements to the Legislative Rule-Making Review Committee.
- Establishes a process for agencies to promulgate emergency rules, including notification requirements and expiration dates.
- Outlines the committee’s review process for emergency rules, including assessing the existence of an emergency and compliance with the bill’s provisions.
- Specifies requirements for agencies to provide information to the Legislative Rule-Making Review Committee when proposing emergency rules.
- Addresses the review and potential disapproval of emergency rules.
- Clarifies the definition of ‘rule’ and its classification (legislative, interpretive, procedural).
Who is affected
- State agencies
- Legislative Rule-Making Review Committee
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