MS SB2808

Requires state agencies to identify and eliminate at least one existing regulation for every new regulation proposed for adoption, unless prohibited by law.

Directs agencies to ensure the total incremental cost of new regulations finalized in fiscal year 2021 shall not exceed zero dollars, unless otherwise required by law.

Requires new regulatory costs to be offset by elimination of existing costs from at least one prior regulation, in accordance with the Administrative Procedure Act and applicable law.

Directs the Secretary of State to issue guidance to agencies on standardizing measurement of regulatory costs, determining what qualifies as new or offsetting regulations, and establishing processes for accounting and oversight.

Requires the Secretary of State to submit annual reports to the Speaker of the House and Lieutenant Governor on February 1 in 2021, 2022, and 2023 regarding progress of the regulatory reduction program.