GOP State Rep. seeks economic impact statements for new regulations
Legislation trying to change the process for adding and renewing state regulations will be introduced in the State House.
The Regulatory Flexibility Act was originally introduced in the last legislative session, but it did not get a committee hearing.
The bill returns with the new version requiring an economic impact statement as part of the regulatory process.
"Before new regulations are proposed or as part of the proposal there needs to be an economic impact statement," said State Rep. Charles Postles (R-Milford), the bill’s sponsor.So that's just going to identify who, the number, and types of small businesses that may be impacted by this regulation, and to project the cost of recording and administrative costs and other compliance costs for this proposed regulation."
Postles notes the legislation also includes a mandatory five-year review of regulations. Currently, there are periodic reviews but no consistency, according to Postles.
This review will also include economic impact statements that are part of the renewal process for a regulation.
"If the economic impact statement is not filed with the regulation - these are existing regulations that would be renewed - then the regulation can't be published and shall expire in its current condition," said Postles.
Postles says the goal of the legislation is to improve the business climate for small businesses.