Creates the division of regulatory review and economic growth to review regulatory processes and permit requirements in order to facilitate economic growth; imposes a two-for-one rule reduction requirement.
Summary
Bill A05582 proposes the creation of a new division within the New York executive department, named the Division of Regulatory Review and Economic Growth. This division is tasked with overseeing and analyzing the regulatory processes of state agencies, with the goal of identifying and recommending the repeal or amendment of burdensome regulations. A key feature of the bill is the introduction of a two-for-one rule reduction requirement, which mandates that for every new regulation proposed, at least two existing regulations must be repealed. This aims to reduce the overall regulatory burden on businesses and promote economic growth in the state.
Impact
The bill will significantly alter the regulatory landscape in New York by establishing a new division specifically focused on regulatory review. This division will have the authority to make binding recommendations to the governor and legislature regarding existing regulations, thereby influencing state laws and potentially reducing compliance costs for businesses. The two-for-one rule reduction requirement is expected to streamline regulatory processes, making it easier for businesses to operate and expand within the state, while also ensuring that new regulations do not add to the existing regulatory burden.
Sentiment
The sentiment surrounding Bill A05582 appears to be mixed, as indicated by the voting history from the Assembly Governmental Operations Committee, where it was held for consideration with a vote of 8 in favor and 3 against. Supporters argue that the bill will foster economic growth by reducing unnecessary regulations, while opponents may express concerns about potential negative impacts on public health and safety due to the expedited regulatory processes.
Contention
Notable points of contention include the balance between reducing regulatory burdens and ensuring adequate protections for public health and safety. Critics may argue that the two-for-one rule could lead to the elimination of important regulations that protect citizens, while proponents believe that the bill will encourage a more business-friendly environment without compromising essential safety standards. The differing perspectives on the necessity and impact of regulations create a divide among lawmakers and stakeholders.
Creating the regulatory relief division within the office of the attorney general and establishing the general regulatory sandbox program to waive or suspend rules and regulations for program participants.