Ill STAT. 780 PUBLIC LAW 105-33 —AUG. 5, 1997 "(2) the Mayor shall transmit the financial plan and budget to the President and Congress under such section.", (c) EFFECTIVE DATE.— The amendment made by subsection (b) shall apply with respect to fiscal years beginning with fiscal year 1998. SEC. 11604. INCREASE IN MAXIMUM AMOUNT OF PERMITTED DISTRICT BORROWING. Section 603(b) of the District of Columbia Self-Government and Governmental Reorganization Act (DC Code, sec. 47-313(b)) is amended by striking "14 per centum" each place it appears in paragraph (1) and paragraph (3) and inserting "17 percent". Subtitle H—Miscellaneous Provisions CHAPTER 1—REGULATORY REFORM IN THE DISTRICT OF COLUMBIA SEC. 11701. REVIEW AND REVISION OF REGULATIONS AND PERMIT AND APPLICATION PROCESSES. (a) REVIEW OF CURRENT REGULATIONS BY AUTHORITY.— (1) IN GENERAL.—Not later than 6 months after the date of the enactment of this title, the District of Columbia Financial Responsibility and Management Assistance Authority shall complete a review of regulations of the District of Columbia in effect as of the date of the enactment of this title and analyze the extent to which such regulations unnecessarily and inappropriately impair economic development in the District of Columbia and the financial stability and management efficiency of the District of Columbia government. To the greatest extent possible, such review shall take into account the work and recommendations of the Business Regulatory Reform Commission pursuant to the Business Regulatory Reform Commission Act of 1994 (DC Code, sec. 2 -4101 et seq.) and other existing and ongoing public and private regulatory reform efforts. The Authority shall transmit the findings of its review to the Mayor, Council, and Congress. (2) REVISION. —Based on the review conducted under paragraph (1) and taking into account actions by the Council and the Executive Branch of the District of Columbia government, the Authority shall take such additional actions as it considers appropriate to repeal or revise the regulations of the District of Columbia, in accordance with (and subject to the terms and conditions described in) section 207 of the District of Columbia Financial Responsibility and Management Assistance Act of 1995. (b) SURVEY AND REVISION OF PERMIT AND APPLICATION PROC- ESSES. — (1) IN GENERAL.— Not later than 6 months after the date of the enactment of this title, the Authority shall complete a review of the current processes of the District of Columbia for obtaining permits and applications of all types and analyze the extent to which such processes and their completion times vary from the processes applicable in other jurisdictions. To the greatest extent possible, such review shall take into account the work and recommendations of the Business Regulatory Reform Commission pursuant to the Business Regulatory
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