Nevada mandates economic impact assessment for new regulatory proposals
March 02, 2025 | House Bills - Introduced, House Bills, 2025 House and Senate Bills, Nevada Legislation Bills, Nevada
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
Nevada's Assembly Bill 120 is poised to reshape the regulatory landscape by mandating a thorough economic impact assessment for proposed regulations. Introduced on March 2, 2025, the bill aims to enhance transparency and accountability within state agencies by requiring them to quantify the economic implications of new regulations before they are enacted.
At the heart of AB120 is a provision that stipulates any agency must calculate the estimated economic impact of a proposed regulation, expressed as a single dollar figure. This assessment must account for implementation costs and potential burdens on businesses, particularly small enterprises. If the estimated impact exceeds $500,000, the agency is barred from adopting the regulation outright and must instead submit it for legislative approval, ensuring that significant economic changes receive proper scrutiny.
The bill has sparked notable debate among lawmakers and stakeholders. Proponents argue that it will protect small businesses from potentially burdensome regulations and promote a more business-friendly environment in Nevada. Critics, however, express concerns that the bill could slow down the regulatory process and hinder necessary regulations aimed at public welfare and safety.
The implications of AB120 extend beyond mere regulatory procedures. Economically, it could lead to a more cautious approach in regulation, potentially stifling innovation and responsiveness to urgent issues. Socially, the bill may empower businesses by providing them with a clearer understanding of regulatory costs, but it could also limit the government's ability to implement timely regulations that address pressing public concerns.
As the legislative session progresses, the future of AB120 remains uncertain. If passed, it could set a precedent for how regulations are evaluated and adopted in Nevada, potentially influencing similar legislative efforts in other states. The ongoing discussions surrounding the bill will be crucial in determining its final form and impact on the state's regulatory framework.
At the heart of AB120 is a provision that stipulates any agency must calculate the estimated economic impact of a proposed regulation, expressed as a single dollar figure. This assessment must account for implementation costs and potential burdens on businesses, particularly small enterprises. If the estimated impact exceeds $500,000, the agency is barred from adopting the regulation outright and must instead submit it for legislative approval, ensuring that significant economic changes receive proper scrutiny.
The bill has sparked notable debate among lawmakers and stakeholders. Proponents argue that it will protect small businesses from potentially burdensome regulations and promote a more business-friendly environment in Nevada. Critics, however, express concerns that the bill could slow down the regulatory process and hinder necessary regulations aimed at public welfare and safety.
The implications of AB120 extend beyond mere regulatory procedures. Economically, it could lead to a more cautious approach in regulation, potentially stifling innovation and responsiveness to urgent issues. Socially, the bill may empower businesses by providing them with a clearer understanding of regulatory costs, but it could also limit the government's ability to implement timely regulations that address pressing public concerns.
As the legislative session progresses, the future of AB120 remains uncertain. If passed, it could set a precedent for how regulations are evaluated and adopted in Nevada, potentially influencing similar legislative efforts in other states. The ongoing discussions surrounding the bill will be crucial in determining its final form and impact on the state's regulatory framework.
View Bill
This article is based on a bill currently being presented in the state government—explore the full text of the bill for a deeper understanding and compare it to the constitution
View Bill