The Secretary of Finance released the annual progress report this week on the efforts being taken to reduce regulatory requirements by the Department of Professional and Occupational Regulation and the Department of Criminal Justice Services through a regulatory reduction pilot program.
The pilot program created in 2018, set a goal of reducing regulatory requirements by 25 percent over a three-year period ending July 1, 2021.
The report shows positive progress by the two agencies in the pilot program. Each reported exceeding their first-year regulatory reduction goals of 7.5 percent. DCJS, through streamlining processes, reported a 10.14 percent reduction. DPOR, through lowering barriers to entry and improving regulatory clarity for certain professions, reported a 9.78 percent reduction.
“This report is good news for Virginia’s small businesses and entrepreneurs,” said Speaker Kirk Cox (R-Colonial Heights). “In its second year, the pilot program is on a path to be a framework for all state agencies to use in reducing burdensome regulations. When the House crafted House Bill 883, we had the goal of eliminating some of the obstacles facing entrepreneurs and small businesses. The pilot program is meeting its intended goal and I thank Secretary Layne for providing the report.”
“Virginia has a strong economy right now, historically low unemployment, and is recognized as the Top State to Do Business,” said Senator Bill DeSteph (R-Virginia Beach). “Clearly the policies championed by my colleagues in the House and Senate are working.” He continued, “Removing unnecessary hurdles for our job creators will help continue that success. This report is an unmistakable indicator that cutting red tape is possible, and I look forward to the pilot program continuing this trend of streamlining our regulatory system.”
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