A new bill would create a permit system to tame the “Wild West” operation of popular discount buses operating out of Chinatown and other parts of the city, Councilwoman Margaret Chin said last night.

The bill, to be announced by lawmakers today, would regulate where the buses can pick up and drop off passengers.

“It is time for New York City to have a hand in regulating their activity,” Chin said.

The buses have also been criticized for tying up traffic around Herald Square.