CA SB942

Establishes an Economic Analysis Unit within the Office of Administrative Law to review cost estimates for proposed state agency regulations.

Requires agencies to publicly disclose cost estimates and submit all supporting information (including proprietary data) to the unit when proposing regulations.

Mandates the unit review final cost estimates for regulations with estimated costs of $50 million or more, and allows stakeholders to petition for review of regulations believed to cost $50 million or more.

Requires the unit to approve or reject cost estimates within 50 working days based on whether the agency used appropriate methodology and whether estimates fairly assess regulation costs.

Prohibits the Office of Administrative Law from approving regulations under review by the Economic Analysis Unit until the unit approves the cost estimates.