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1995 SESSION

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LD1921812
SENATE BILL NO. 559 Offered January 25, 1994 A BILL to amend the Code of Virginia by adding a section numbered 30-19.1:5, relating to economic impact analysis of bills requiring promulgation of regulations. ----------
Patrons--Wampler, Bell, Benedetti, Calhoun, Chichester, Colgan, Cross, Earley, Goode, Hawkins, Holland, R.J., Miller, K.G., Nolen, Potts, Quayle, Reasor, Robb, Stolle, Stosch, Trumbo, Waddell and Woods
---------- Referred to the Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 30-19.1:5 as follows:

§ 30-19.1:5. Economic impact analysis of bills requiring promulgation of regulations.

The Department of Planning and Budget shall prepare an economic impact analysis of any bill that will require the promulgation of a regulation, as defined in § 9-6.14:4. The economic impact analysis shall include, but need not be limited to, the projected number of businesses or other entities to whom the regulation will apply; the identify of any localities and types of businesses or other entities particularly affected by the regulation; the projected number of persons and employment positions to be affected; and the projected costs to affected businesses or entities to implement or comply with such regulations. Any agency of the Commonwealth shall assist in preparing an analysis if requested to do so by the Department.

No bill shall be printed, nor shall any bill be considered or acted upon by either house of the General Assembly or by any committee or subcommittee thereof, until an economic impact analysis has been conducted. A statement of the economic impact analysis shall be printed as a part of the bill, but shall not be codified.