SB 372

Abstract

Department of Planning and Budget; RegulatoryBudget Program; report. Directs the Department of Planning andBudget, under the direction of the Secretary of Finance, to establisha continuous Regulatory Budget Program with the goal of setting atarget for each executive branch agency subject to the AdministrativeProcess 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 increaseby a specific amount over a two-year period. The bill requires the Secretary of Finance to report to the Speaker of the House of Delegatesand the Chairman of the Senate Committee on Rules on the status ofthe Program no later than October 1 of each odd-numbered year. Finally,the bill provides that the Department, in consultation with the Officeof the Attorney General, shall, by October 1, 2024, issue guidancefor agencies regarding the Program and how an agency can comply withthe requirements of the Program.