NJ S3686

State agencies must complete a mandatory review of any administrative rule before its seven-year expiration, assessing whether benefits continue to outweigh costs and burdens, and whether the rule remains effective or has become outdated

Agencies must prepare a regulatory impact analysis for all proposed new rules, evaluating the need for the rule, its consequences, whether benefits outweigh costs, and where appropriate, values that are difficult to quantify such as equity, human dignity, fairness, and distributive impacts

Findings from both the expiring rule reviews and new rule impact analyses must be reported to the Governor and Legislature, with public notice published in the New Jersey Register

The review for expiring rules must be completed prior to filing any notice of proposed readoption, whether the readoption involves no changes, technical changes, or substantive changes

New regulatory impact analysis requirements are in addition to existing requirements for socio-economic impact statements, regulatory flexibility analyses, jobs impact statements, and other mandated assessments