Delaying Costly Regulations Until Judicial Review is Complete
This bill aims to postpone the effective date of new regulations that could cost the economy a billion dollars annually. These changes cannot take effect until they have been reviewed by a court, giving citizens more time to understand their impact and potentially challenge them. This ensures that costly regulations are thoroughly vetted before implementation, protecting citizens' finances and daily lives from sudden and unforeseen burdens.
Key points
Introduces a requirement to assess the cost of new regulations: if the annual cost to the economy exceeds one billion dollars, the regulation is deemed "high-impact."
Postpones the effective date of "high-impact" regulations until their judicial review is complete, unless no one seeks such review within a specified period.
Provides citizens and businesses more time to prepare for changes and the opportunity to challenge costly regulations in court.
Status:
Expired
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