There are 27 Titles of the California Code of Regulations, which contain the thousands of regulations in effect in the State of California. In Title 1, “General Provisions,” Division 3, there are regulations for the Department of Finance. The following is an overview of Division 3:
Division 3 Department of Finance
Chapter 1 Standardized Regulatory Impact Assessment for Major Regulations – 5 Sections
Division 3 contains one chapter, and Chapter 1 contains five regulatory sections. The following are the sections of Chapter 1.
Division 3 contains one chapter, and Chapter 1 contains five regulatory sections. Section 2000 contains the following ten definitions: Agency; as estimated by the agency; code; department; economic impact; GO-Biz; major regulation; notice of proposed action; OAL; and, SRIA.
Section 2001 deals with notification and public input and requires an agency that anticipates promulgating a major regulation to provide the Department of Finance (DOF), not later than February 1 of each calendar year, with a list of all major regulations that it anticipates proposing during that entire calendar year. The information must be provided on a form prescribed by the DOF and contain specified information. If an agency makes a determination after February 1, then the agency must submit the information no later than 60 days prior to filing a notice of proposed action with OAL.
The agency is required to seek public input regarding alternatives from those who would be subject to or affected by the regulations (including other state agencies and local agencies, where appropriate) prior to filing a notice of proposed action with OAL unless the agency is required to implement federal law and regulations which the agency has little or no discretion to vary. An agency shall document and include in the SRIA the methods by which it sought public input.
Section 2002 deals with the Standardized Regulatory Impact Assessment and requires an agency that anticipates promulgating a major regulation to submit its completed SRIA to the DOF within specified time frames. It also specified all the information the SRIA must include, as well as a description and explanation of specified items. Including documentation sufficient to substantiate compliance with the requirements of the law. And, within ten days of receiving a SRIA, the DOF must post a copy on its Internet website.
Section 2003 deals with the methodology for making estimates and requires an agency to use an economic impact method and approach that has specified capabilities. Economic and demographic projects, costs and benefits, and other information must be used. The agency must also compare regulatory alternatives with a baseline that reflects the anticipated behavior of individuals and businesses in the absence of the proposed major regulation and shall identify the baseline it used.
In addition, an agency must compare proposed regulatory alternatives with an established baseline and consider specified information in its analysis. An agency is required to describe the applied analytical methods and data sources used and the results of that analysis.
Section 2004 concerns the failure to comply with the requirements of this chapter and provides that, when an agency fails to comply in whole or in part with this chapter, the DOF must identify in its comments the area(s) where the agency is out of compliance.
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