NY A05582

Creates a new Division of Regulatory Review and Economic Growth in the executive department, headed by a commissioner appointed by the governor for a 5-year term who must have at least 10 years of for-profit business experience including 3 years in a senior executive role

Requires all state agencies to submit proposed rules to the division for approval before publication, with the commissioner authorized to reject rules deemed detrimental to economic growth or not vital to public health and safety

Implements a "two-for-one" rule reduction requirement where agencies must identify at least two existing rules to repeal for each new rule proposed, demonstrating that eliminated rules provide equal or greater fiscal relief than costs imposed by the new rule

Expands the Administrative Regulations Review Commission from 6 to 8 members, requires annual reports and weekly "Regulatory Wednesday" meetings during legislative sessions, and mandates review of legislation that would require new agency regulations

Directs the division to establish an 800 hotline and website for business assistance, publish annual reports on implemented recommendations and cost savings, and complete a comprehensive study on the cost of regulations to businesses within 18 months