It seems wrong that local and state governments can both (a) release themselves of their own governing decisions by choosing a sole-sourced third party to write the regulations and (b) allow that third party to control access to the regulations at the same time. However, having myself visited an area in an underdeveloped country which was basically a shantytown, we should all recognize that building codes improve the lives of everyone.
The only real outcome that fits my IANAL vision of the law is to break up this monopoly and for local governments adopt and subsequently outline the codes themselves. The business could maybe then become selling those codes as a vendor to the government, but the governments themselves are the ones publishing them to their citizens.