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TITLE 12 CHAPTER 8 PART 2TRADE, COMMERCE AND BANKING TRADE PRACTICES AND REGULATIONS MINIMUM STANDARDS FOR SURVEYING IN NEW MEXICO12.8.2.1 ISSUING AGENCY: New Mexico Board of Licensure for Professional
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Identify and analyze the problem or issue that needs to be addressed through the regulatory impact analysis.
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Gather relevant data and information to assess the potential impacts of the proposed regulation.
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Evaluate and compare alternative regulatory options to determine the most effective and least burdensome approach.
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Estimate the costs and benefits associated with each regulatory option, including both direct and indirect impacts.
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Consider the potential impact on small businesses, state and local governments, and other affected stakeholders.
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Regulatory impact analyses are used to assess and evaluate the potential effects of regulations on the economy, society, and the environment.
Government agencies and organizations that propose new regulations or changes to existing regulations are required to file regulatory impact analyses.
Regulatory impact analyses can be filled out by gathering relevant data, conducting research, and analyzing the potential impacts of the proposed regulations.
The purpose of regulatory impact analyses is to ensure that proposed regulations are well-informed and take into account potential economic, social, and environmental impacts.
Regulatory impact analyses must include information on the rationale for the proposed regulations, potential costs and benefits, and any alternatives considered.
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