Regulatory Budget Program; established, report.
The implementation of HB722 is anticipated to significantly alter the landscape of state regulations, promoting a more uniform approach across various agencies. By setting a clear target for regulatory reduction, the bill emphasizes the need for accountability and transparency in how regulations are managed. It requires agencies to publish a catalog of their regulations and regularly update this information, thereby encouraging public scrutiny and facilitating better governance. Additionally, the bill empowers the Department to provide guidance on measuring and reporting regulatory requirements to ensure consistency across agencies.
House Bill 722 establishes the Regulatory Budget Program within the Department of Planning and Budget in Virginia, aiming to reduce regulatory requirements by 30% by January 1, 2027. This program mandates that all executive branch agencies subject to the Administrative Process Act evaluate their existing regulations and identify opportunities to streamline or eliminate unnecessary regulatory burdens. The legislation provides a framework for agencies to systematically assess their regulatory practices and report progress towards achieving the reduction target, thus fostering a more efficient regulatory environment.
The introduction of HB722 has been met with both support and criticism. Proponents argue that the bill represents a much-needed shift towards efficiency in government operations, potentially making it easier for businesses and individuals to navigate state regulations. However, critics raise concerns that such significant reductions in regulatory oversight could undermine important protections related to health, safety, and the environment. There is apprehension about whether the aggressive reduction targets might lead to the neglect of essential regulations that safeguard public interest.
According to the provisions of HB722, if an agency fails to meet its 30% reduction goal, it must report the reasons for the shortfall to the Department. The bill also stipulates that the Department will annually report its findings to key legislative leaders, ensuring that the General Assembly remains informed of the progress made towards regulatory reform. The ongoing oversight of the program is intended to encourage agencies to actively engage in streamlining efforts and adapt their practices to meet evolving state needs.