Read the full stored bill text
A BILL to amend the Code of Virginia by adding in Title 2.2 a chapter numbered 4.5, consisting of a section numbered
2.2-450
, relating to Office of Regulatory Management established.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Title 2.2 a chapter numbered 4.5, consisting of a section numbered
2.2-450
, as follows:
CHAPTER
4.5
.
OFFICE OF REGULATORY MANAGEMENT
.
§
2.2-450
. Office of Regulatory Management
; definitions
.
A. As used in this chapter, unless the context requires a d
ifferent meaning:
"Regulatory economic analysis" means
an analysis prepared by an agency in connection with a regulation or guidance document prior to such regulation
's
or document's issuance that (i) identifies the problem the agency is attempting to solve with such regulation or guidance document, (ii) analyzes a reasonable number of alternative approaches to solving such problem, (iii) assesses the underlying benefits and costs of each alternative, including monetary figures for the costs and benefits to the greatest extent possible, and (iv) assesses the effects of each alternative on local governments, families, and small businesses as such term is defined in §
2.2-4007.1
.
"Unified Regulatory Plan" means a listing of all regulations and guidance documents that executive branch agencies anticipate
issuing over the course of a fiscal year.
B.
There is here
by
established
the Office of Regulatory Management, which shall be headed by a Director appointed by the Governor and subject to confirmation by the General Assembly. The Director shall:
1. Review all regulations and guidance documents issued by executive branch agencies. Whenever the Director approves a regulation or guidance document,
he shall submit his recommendation to the Governor or the Governor's designee for the final determination of whether to approve the regulation or guidance document for promulgation.
2. Issue guidelines governing agencies' regulatory economic analysis
, periodic reviews conducted under §
2.2-4007.1
, and actions that may be pursued in response to any regulatory reduction initiative imposed by statute or executive order.
3. Issue guidelines establishing actions that agencies should undertake to promote regulatory trans
parency, including posting all regulations, guidance documents, and other materials associated with regulatory activities on the Virginia Regulatory Town Hall.
4. Issue guidelines for agencies to follow when submitting
a
Unified Regulatory Plan
.
5. Identify opportunities, using artificial intelligence tools as appropriate, to streamline or reduce existing regulations and guidance documents that are outdated, duplicative, or that impose unnecessary regulatory burdens, and coordinate with executive branch agencies to implement such reductions in a transparent manner.