Section 206. Overlapping regulations; compliance determinations

1. It is
  the declared policy  of  this  state  to  protect  and  encourage  jobs,
  investment  and  economic  activity  and  to  promote the public health,
  safety and welfare by administering all regulatory requirements  imposed
  by the state in a fair and reasonable manner.
    2.  Any  person subject to a requirement imposed by a state statute or
  rule and to a similar requirement imposed by the federal government, may
  pursuant to section two hundred  four  of  this  chapter,  petition  the
  agency  administering  the state requirement for a declaratory ruling as
  to whether compliance with the federal requirement will be  accepted  as
  compliance  with  the  state requirement. Upon receipt of such petition,
  the agency shall submit a copy thereof to the office of business permits
  and regulatory assistance.
    3.  If  the  agency  determines  that  compliance  with  the   federal
  requirement would not satisfy the purposes or relevant provisions of the
  state  statute  involved,  the  agency shall so inform the petitioner in
  writing stating the reasons therefor and may issue a declaratory  ruling
  to that effect. A copy of such written statement of reasons and any such
  declaratory  ruling  shall  be  submitted by the agency to the office of
  business permits and regulatory assistance.
    4.  If  the  agency  determines  that  compliance  with  the   federal
  requirement  would  satisfy  the purposes and relevant provisions of the
  state statute involved but  that  it  would  not  satisfy  the  relevant
  provisions  of  the  state rule involved, the agency shall so inform the
  petitioner and the office of business permits and regulatory  assistance
  and may initiate a rulemaking proceeding in accordance with this chapter
  to  consider  revising  such rule to accept compliance with such federal
  requirement in a manner that is consistent  with  the  requirements  and
  purposes of the state statute.
    5.   If  the  agency  determines  that  compliance  with  the  federal
  requirement would satisfy the purposes and relevant  provisions  of  the
  state   statute  involved,  and  that  it  would  satisfy  the  relevant
  provisions of  the  state  rule  involved,  the  agency  shall  issue  a
  declaratory  ruling  indicating  its intention to accept compliance with
  the federal requirement as compliance with the  state  requirement,  and
  the terms and conditions under which it intends to do so. A copy of such
  declaratory  ruling  shall  be  submitted by the agency to the office of
  business permits and regulatory assistance.
    6. The office  of  business  permits  and  regulatory  assistance  may
  consider  agency compliance with this section when performing its review
  function under section two hundred two-c of this chapter.