SB372:

Regulatory Budget Program; DPB to establish, report.

Bill Summary:

Department of Planning and Budget; Regulatory
Budget Program; report. Directs the Department of Planning and
Budget, under the direction of the Secretary of Finance, to establish
a continuous Regulatory Budget Program with the goal of setting a
target for each executive branch agency subject to the Administrative
Process Act to (i) reduce regulations and regulatory requirements,
(ii) maintain the current number of regulations and regulatory requirements,
or (iii) allow regulations and regulatory requirements to increase
by a specific amount over a two-year period. The bill requires the
Secretary of Finance to report to the Speaker of the House of Delegates
and the Chairman of the Senate Committee on Rules on the status of
the Program no later than October 1 of each odd-numbered year. Finally,
the bill provides that the Department, in consultation with the Office
of the Attorney General, shall, by October 1, 2024, issue guidance
for agencies regarding the Program and how an agency can comply with
the requirements of the Program.