Bill > SB705

This bill establishes a "Regulatory Budget Program" within the Department of Planning and Budget, requiring every executive branch agency subject to the Administrative Process Act (which governs how state agencies create and implement regulations) to reduce their overall regulatory requirements by 25 percent by January 1, 2029. The bill defines "regulation" and "regulatory requirement" broadly, but excludes certain types of rules like those mandated by federal law or internal agency policies. Agencies will need to create a "catalog" of their existing regulations and requirements, which will be updated annually and made public. The Department of Planning and Budget will issue guidance to agencies on how to measure and achieve these reductions, including how to account for "streamlining," which means reducing the burden of a requirement without eliminating it. If an agency proposes to eliminate or modify a regulation that requires a change in state law, the relevant Secretary must report this to legislative leaders, who can then refer it to committees for assessment. The Department will report annually on the program's progress to the Speaker of the House of Delegates and the Chair of the Senate Committee on Rules, starting in October 2026, and will also track agency compliance with a four-year review cycle for regulations. This entire program is set to expire on January 1, 2029.

Budget and Finance

https://lis.virginia.gov/bill-details/20261/SB705