REGULATORY SUNRISE REVIEW ACT

Creates the Regulatory Sunrise Review Act. Establishes a system to investigate and review the necessity of new State regulation over a previously unregulated profession or occupation. Provides a process to investigate what level of regulation is necessary in order to protect the public health, safety, or welfare. Provides that the General Assembly shall commence the process established by this Act to investigate and review the necessity of new State regulation over a previously unregulated profession by passage of a resolution. Requires that an applicant that proposes legislation to license a profession or occupation submit a petition for licensure on forms provided by the Department of Financial and Professional Regulation and pay a fee of $1,000 within 30 days after introduction of the proposed professional regulation legislation. Provides that the Department shall prepare a report within 12 months assessing the need for the proposed new licensure upon receipt of a complete petition and petition fee. Provides that the report shall be principally authored by persons with specified qualifications or by persons whose qualifications are substantially similar to specified qualifications. Provides that if the Department is unable to enter into a contract for preparation of the report for a sum not to exceed $1,000, the Department may seek and the General Assembly may approve an appropriation from the general revenue fund to supplement the $1,000 fee collected. Provides the various requirements, factors, criteria, and standards that must be included in a report. Provides that a report must be filed with the Secretary of State. Effective immediately.