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Bill

Bill

A 243

Provides for the detailing of the benefits and costs of proposed rules in the regulatory impact statements

2025 Regular Session Introduced by Bill Magnarelli

Bill A 243 mandates detailed assessments of benefits and costs for proposed regulations, enhancing transparency for agencies, businesses, and the public.

REFERRED TO GOVERNMENTAL OPERATIONS
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Bill Summary · A 243

Summary of Bill A 243

Bill Information

  • Bill Number: A 243
  • Title: Provides for the detailing of the benefits and costs of proposed rules in the regulatory impact statements
  • Status: Referred to Governmental Operations
  • Introduced: January 08, 2025
  • Classification: Bill

Purpose and Intent

Bill A 243 aims to enhance transparency and accountability in the rule-making process by requiring regulatory agencies to provide detailed assessments of the benefits and costs associated with proposed rules. This initiative seeks to ensure that stakeholders, including the public and policymakers, have access to comprehensive information that can inform decision-making.

Key Provisions

  • Regulatory Impact Statements: The bill mandates that all regulatory impact statements must include a thorough analysis of both the anticipated benefits and costs of proposed regulations.
  • Standardized Format: It may require a standardized format for these statements to facilitate comparison and understanding across different regulatory proposals.
  • Stakeholder Engagement: The bill encourages agencies to engage with stakeholders during the assessment process to gather diverse perspectives on the potential impacts of proposed rules.

Who Would Be Affected

  • Regulatory Agencies: Agencies responsible for creating and enforcing regulations will need to adapt their processes to comply with the new requirements.
  • Businesses and Industries: Entities that are subject to regulation will benefit from clearer insights into the implications of new rules, potentially influencing their operations and compliance strategies.
  • General Public: Citizens will have improved access to information regarding how regulations may affect them, fostering greater public engagement in the regulatory process.

Procedural Aspects

  • Current Status: As of January 08, 2025, the bill has been referred to the Governmental Operations committee for further consideration.
  • Related Bills: This bill is related to several prior-session bills (A 1206, A 487, A 8715, A 6187, A 2941, A 766, A 396, A 1783, A 1365, A 214), indicating ongoing legislative interest in regulatory impact assessments.

Conclusion

Bill A 243 represents a significant step towards improving the regulatory framework by ensuring that the costs and benefits of proposed rules are clearly articulated. By fostering transparency, the bill aims to enhance public trust and facilitate informed decision-making among stakeholders. As it progresses through the legislative process, its implications for regulatory practices will be closely monitored.

Compiled from official sources — confirm details with the bill’s official record.

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