Thursday, March 31, 2011

A bad new law - limitating regulations

The NC General Assembly recently passed a bill, signed into law by the Governor, that will prevent any new environmental, health and safety, and other regulation from being adopted if the regulation will cost those regulated more than $500,000.

In determining the cost, no credit is given for savings to members of the public that results from the regulation. So, if a regulation is proposed that would cost sightly over $500, 000 but would save more than that in health costs, the regulation would be blocked by this law.

The law "sunsets", that is, expires on July 1, 2012.