Read the latest edition of NASBA's Legislative E-News
Read the latest edition of NASBA's Legislative E-News
May 2017
Boards of Accountancy, Staff and Legal Counsel:
NASBA is pleased to provide the following webinar training in federal antitrust law and state action immunity. Please click the link below in order to view this webinar.  
In addition, NASBA experts on federal antitrust law and state action immunity can be available via conference call during one of your future Board of Accountancy meetings to answer any questions you may have on these topics. Contact John Johnson, Director, Legislative and Governmental Affairs, at jjohnson@nasba.org or 615.880.4232, to arrange our participation. 
Stay Apprised of Legislation Signed Into Law  
As of April 30, 2017, all 55 Jurisdictions have convened their 2017 legislative session, seventeen Jurisdictions have adjourned, and one state (Washington) has reconvened into special session. 
As additional jurisdictions begin to adjourn over the next few months, NASBA has added under the “RESOURCES” section a quick-link, to all legislation signed into law impacting the profession.  
Mississippi’s Occupational Board Compliance Act Legislation Signed into Law
The Mississippi Center for Public Policy and the Mississippi chapter of the Americans for Prosperity, backed by the Institute for Justice, were able to leverage the U.S. Supreme Court ruling in the North Carolina State Board of Dental Examiners v. FTC case, and have their “Anti-licensing & Regulation” legislation signed into law. (Refer to the “Anti-licensing & Regulation” article published in the January 2017 Legislative E-news.)   
Governor Phil Bryant signed into law the Occupational Board Compliance Act (“the Act”), which provides new oversight for Mississippi licensing boards by:
  • Creating an “Occupational Licensing Review Commission” that will review occupational regulations proposed by licensing boards controlled by active market participants. This provides independent “active supervision” over state boards that are now facing greater antitrust scrutiny as a result of the 2015 ruling in the NC Dental case.   
In addition to providing “active supervision” over Mississippi licensing boards, the Act:
  • Declares that the policy of the state will be to “increase economic opportunities…by promoting competition.”
  • Furthermore, any occupational regulation “must use the least restrictive regulation necessary to protect consumers.”
Mississippi’s “Occupational Board Compliance Act” becomes the first piece of legislation signed into law that combines “active supervision” with labor policy.    
Because of the record number of bills filed in 2017 dedicated to a principle of “the least restrictive regulation necessary to protect consumers,” NASBA has dedicated a breakout session at the Regional Meetings in June to discuss the anti-regulatory policies being promoted by several conservative advocacy groups.  Please join John Johnson, Nathan Standley, and a panel of your peers representing your region, as we: 
  • Introduce who the players are and their philosophies/policies
  • Discuss the legislation filed that mirrors these policies
  • Have an open discussion on how we – as a profession – can better educate these groups, and legislators, about the accounting profession; and what the profession has done over several decades to reduce barriers while ensuring public protection. 
To view Mississippi HB 1425, click on the above “LEGISLATION BY TOPIC” link and then on the “Active Supervision” or “Lawful Occupation” buttons; you may also click on “LEGISLATION BY JURISDICTION” and then click on Mississippi within the map to see a list of legislative bills from the state.
UAA 7th Edition Updates Making Progress in State Legislatures 
The 7th edition to the Uniform Accountancy Act (UAA), released in May 2014, contained two important new updates to the Act, designed both to ensure protection of the public and to respond to evolving changes in the practice of accountancy.  
Firm Mobility
Legislation filed in 2017: Nevada, Montana, New Mexico, Iowa, Missouri, Illinois, Florida, New Jersey, Massachusetts, and Vermont.
Signed into law in 2017: New Mexico (3/7/17); Montana (3/21/17); and Iowa (4/20/17)
Number of jurisdictions that have adopted:  19 Jurisdictions (14 Jurisdictions had already adopted prior to Firm Mobility being added to the UAA in 2014).
Attest
Legislation filed in 2017: Alaska; Arkansas; Idaho; Missouri; Nevada; New Jersey; New Mexico; Utah; and Vermont.
Signed into law in 2017: Arkansas (3/1/17); Utah (3/21/17); New Mexico (3/21/17); and Idaho (4/16/17).
Number of jurisdictions that have adopted: 44 jurisdictions 
To view the above legislation, click on the above “LEGISLATION BY TOPIC” link and then on the “Attest” or “Firm Mobility” buttons; you may also click on “LEGISLATION BY JURISDICTION” and then click on the jurisdiction within the map to see a list of all legislative bills from the state/territory.
Competency-Based CPE for CPAs Signed into Law
Legislation was signed into law in Indiana (HB 1467) that allows competency-based continuing professional education courses to qualify for license renewal. Currently, Indiana licensees must complete 120 hours of Continuing Professional Education (CPE) every three years in order to retain their licenses. The new law will allow a licensee to take only competency-based education, or a combination of both competency-based and hours-based education, to complete the requirements for CPA license renewal.  
To view Indiana HB 1467, click on the above “LEGISLATION BY TOPIC” link and then on either the “CPE Related” button; you may also click on “LEGISLATION BY JURISDICTION” and then click on Indiana within the map to see a list of legislative bills from the state.
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SPOTLIGHT
NASBA CREATES WEBPAGE DEDICATED TO THE NEXT VERSION OF THE CPA EXAM
RESOURCES
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FTC Sets Its Sights on Occupational Licensing
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Can Trump Learn from Florida?
Regulatory accumulation extends beyond the federal government – State-level regulations also hold back economic opportunity and lower job creation. 
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