This bill amends and reenacts section 29A-3-11 of the Code of West Virginia, focusing on the submission of legislative rules by agencies to the Legislative Rule-Making Review Committee (LRMRC). It introduces a requirement for agencies to include a detailed statement of the economic impact of each proposed legislative rule, which must consider various factors such as regulatory costs, business competitiveness, job creation, private-sector investment, and overall economic growth. The bill also mandates that the LRMRC review the economic impact of the proposed rules and note any failures by agencies to comply with submission requirements.

Additionally, the bill modifies the existing requirements for the submission of legislative rules by specifying the contents of the economic impact statement and enhancing the review process by the LRMRC. It removes previous language that required a general statement of economic impact and replaces it with a more comprehensive framework for evaluating the economic implications of the rules. The LRMRC is tasked with ensuring that agencies adhere to these new requirements and is empowered to recommend actions regarding the proposed rules based on their findings.

Statutes affected:
Introduced Version: 29A-1-2, 29A-3-11, 29A-3-15
Committee Substitute: 29A-3-11