7804052.2-4007.04Virginia Decodedhttps://vacode.org2016Administration Of GovernmentAdministration Of State GovernmentTransaction Of Public BusinessAdministrative Process ActRegulationsEconomic impact analysis2007, cc. 316, 561, 873, 916; 2015, c. 608.http://law.lis.virginia.gov/vacode/2.2-4007.04/2.2-4007.05Submission of proposed regulations to the Registrar/2.2-4007.05/2.2-4025Exemptions operation of this article; limitations/2.2-4025/30-73.3Powers and duties of Commission/30-73.3//2.2-4007.04/2.2/II/B/40/2/2.2-4007.0410.1-104.92.2-4007.052.2-40122.2-4012.12.2-40273.2-512135.1-1463.2-217Before delivering any proposed regulation under consideration to the Registrar as required in § 2.2-4007.05, the agency shall submit on the Virginia Regulatory Town Hall a copy of that regulation to the Department of Planning and Budget. In addition to determining the public benefit, the Department of Planning and Budget in coordination with the agency shall, within 45 days, prepare an economic impact analysis of the proposed regulation, as follows:sectionAA1 The economic impact analysis shall include but need not be limited to the projected number of businesses or other entities to whom the regulation would apply; the identity of any localities and types of businesses or other entities particularly affected by the regulation; the projected number of persons and employment positions to be affected; the impact of the regulation on the use and value of private property, including additional costs related to the development of real estate for commercial or residential purposes; and the projected costs to affected businesses, localities, or entities of implementing or complying with the regulations, including the estimated fiscal impact on such localities and sources of potential funds to implement and comply with such regulation. A copy of the economic impact analysis shall be provided to the Joint Commission on Administrative Rules;sectionA1A12 In the event the Department cannot complete an economic impact statement within the 45-day period, it shall advise the agency and the Joint Commission on Administrative Rules as to the reasons for the delay. In no event shall the delay exceed 30 days beyond the original 45-day period.sectionA3A32