SB 617 (R. Calderon; D-Montebello) reforms the regulatory process by requiring an economic analysis of all major regulations at the beginning of the regulatory process, thus providing more transparency and better data on which to base selection of the most cost-effective regulatory alternative.
This analysis will then drive the development and selection of regulations that fully meet the goals of the underlying statute, while having the least negative impact on the state’s economy. If the agency adopts anything other than the most cost-effective option, it must state on the record why and justify its choice. Currently a proposed regulation’s fiscal analysis, if any, comes at the end of the process and is not based on uniform standards of analysis.
We strongly urge the Governor to sign this measure which takes a much needed step in the right direction of regulatory reform.
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