HB 54 Summary

• Requires state agencies to prepare a regulatory flexibility analysis before publishing proposed regulations, considering methods to minimize adverse impacts on small businesses.

• Mandates agencies prepare an economic impact statement identifying affected small businesses, compliance costs, probable effects, and less-costly alternative methods for achieving regulation purposes.

• Requires agencies to review all existing regulations within 4 years of enactment and all new regulations every 5 years thereafter to minimize economic impact on small businesses.

• Extends the judicial review period for small businesses challenging final agency regulations from 30 days to 60 days under Section 10141.

• Directs the Registrar of Regulations, Department of State, and Office of Management and Budget to develop guidelines for agencies preparing regulatory flexibility analyses and economic impact statements, effective February 1, 2012.