The Montgomery County Council unanimously passed legislation Tuesday requiring the Office of Legislative Oversight to prepare an economic impact statement on each bill, starting in March 2020.
The legislation will require that all legislation receives an economic impact statement indicating the potential costs a bill could have on businesses and residents.
The economic impact statement will address effects on the county’s workforce, tax policy, property values, income and operating costs to businesses and nonprofits.
The new measure takes effect March 1, 2020,
Council member Andrew Friedson, who sponsored the bill, said it is the product of an idea that he mentioned during his council campaign last year and that much of the business community favored.
Click here to read the rest of the article written by Dan Schere over at Bethesda Magazine