Workshop on Standardized Regulatory Impact Assessment (SRIA)
Place: California • Dates: 2018 • Partner: Various state agencies
California Senate Bill 617 (Chapter 496, Statutes of 2011) established additional regulatory impact assessment standards for major regulations. State agencies must conduct a Standardized Regulatory Impact Assessment (SRIA) when it is estimated that a proposed regulation has an economic impact exceeding $50 million.
BEAR provides expert support for state agencies at every stage of the SRIA development process, including:
- Threshold assessment (Will impacts of the regulation on the California economy exceed $50M?).
- Data development, industry consultation, and cost benefit analysis.
- Economywide impact assessment.
- SRIA report authorship, submission to Department of Finance, and revision to approval.
- Results communication and stakeholder engagement.
We contract to support California state agencies with any and all of these steps, including threshold-only assessment, and can provide ongoing consultation on a cost-of-service basis before and after formal contracting. For more information, contact SRIA@bearecon.com directly.
As a matter of general interest, we provide a number of SRIA informational documents on this page, downloadable from the buttons in the righthand margin.
We were asked by a state agency in 2016 to review all SRIAs completed to date. This review is public and made available here to inform other agencies about prior approaches and experience.
We have also produced a brief general guidance document offering more detailed clarification about the data, analysis, and reporting requirements for SRIAs.
Economic Model Comparison
An important component of all SRIAs is the assessment of a proposed regulation’s impact across the California economy. Several economywide modeling tools are available to agencies and their supporting consultants to perform this assessment. In the attached document we compare the leading alternatives.
Calibration of the BEAR Baseline
All SRIA assessments must be calibrated to a long term California baseline growth scenario consistent with published Department of Finance forecasts. As an example of this, we present the baseline scenario developed for our own BEAR model.