Prior to the issuance of any new regulation that may reasonably be anticipated to have significant economic impacts, every governmental agency shall prepare and publish an Economic Impact Statement, in order to ensure that government officials take adequate consideration for their decisions' potential effect on the human and economic environment.
The Economic Impact Statement shall be modeled after the Environmental Impact Statement mandated by NEPA, and shall describe, at minimum: (1) The economic impacts of the proposed action; (2) Any adverse economic impacts that cannot be avoided should the proposal be implemented; (3) The reasonable alternatives to the proposed action; and (4) A finding that the public benefits of the proposed policy exceed its unavoidable costs.