(a) The legislative service office shall review each major rule submitted under this act and report the review in accordance with this section. (b) For each major rule submitted under this act, the legislative service office shall: (i) Not later than fifteen (15) days after the major rule was submitted under W.S. 28-9-103(b), provide the major rule to each member of the legislature; (ii) Not later than the time specified in subsection (e) of this section, complete a regulatory impact analysis in accordance with subsection (c) of this section. (c) Each regulatory impact analysis of a major rule shall include: (i) A statement of need for the major rule, provided by the agency promulgating the major rule; (ii) The statutory authority for the promulgation of the major rule; (iii) An examination of alternatives to the enactment of the major rule; (iv) An evaluation of the costs and benefits for the major rule, including: (A) Estimated primary or direct benefits accruing as a result of the major rule; (B) Estimated cost savings or financial benefits to the state and its residents and businesses; (C) Estimated compliance costs for regulated entities subject to the major rule; (D) Estimated secondary or indirect costs associated with the major rule; (E) Estimated effect on state revenue; (F) Estimated effect on state expenditures, including estimated administrative expenses; (G) Estimated opportunity costs. For purposes of this subparagraph, the cost of compliance in terms of any resulting removal of private capital from the market shall be included in the analysis; (H) The sources consulted to complete the analysis; (J) Key assumptions made and sources of uncertainty with the analysis; (K) Any other information the legislative service office determines would be beneficial for legislative consideration of the major rule. (d) Upon completing a regulatory impact analysis, the legislative service office shall provide the analysis to each member of the legislature and shall make the analysis available to the public. (e) The legislative service office shall complete each regulatory analysis not later than fifty (50) days after the major rule was submitted for review under W.S. 28-9-103(b). (f) To the extent resources are available, the council may direct the legislative service office to perform a regulatory impact analysis for any existing major rule. (g) The legislative service office may request any information, expertise or assistance from an agency promulgating a major rule. Upon receiving a request under this subsection, the agency shall provide all information and assistance necessary for the legislative service office to complete the regulatory impact analysis required under this section. (h) "Major rule" means a rule, including an emergency rule, designated by management council under W.S. 28-9-109 that will result in or is likely to result in one (1) or more of the following: (i) An annual impact on the economy of Wyoming that will result in direct or indirect costs of not less than one million dollars ($1,000,000.00); (ii) Significant adverse effects on competition, employment, investment, productivity or innovation in the state, including significant adverse effects on individual industries or regions within Wyoming. CHAPTER 10 - SUNSET LAW
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