erlassen
to enact
To officially announce and put into force a law, regulation, or order.
Die Regierung hat ein neues Gesetz zum Klimaschutz erlassen.
The government enacted a new law on climate protection.

to enact / waive
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to enact
To officially announce and put into force a law, regulation, or order.
Die Regierung hat ein neues Gesetz zum Klimaschutz erlassen.
The government enacted a new law on climate protection.

The verb 'erlassen' (to enact/to waive) is inseparable. The prefix 'er-' remains firmly attached to the stem 'lassen' (to let) in all sentence forms and is never placed at the end of the sentence.
Das Gericht erließ ein strenges Urteil.
The court issued a strict judgment.
The context reveals the meaning: if the object is a law, rule, or order, 'erlassen' (to enact) means to officially put it into force. If it is about a debt, punishment, or fee, it means 'to waive'.
Das Parlament hat ein neues Steuergesetz erlassen.
Parliament enacted a new tax law.
In this meaning, 'erlassen' (to enact) is typically used by governmental or official institutions. Common objects are 'ein Gesetz' (a law), 'eine Verordnung' (a regulation), 'ein Dekret' (a decree), or 'ein Befehl' (an order).
Der Bürgermeister erließ eine neue Parkverordnung für die Innenstadt.
The mayor issued a new parking regulation for the city center.
When someone is forgiven a debt or punishment with 'erlassen' (to waive), that person is in the dative. The thing that is waived is in the accusative.
Die Bank hat ihm die restlichen Schulden erlassen.
The bank waived his remaining debts.
to give up / to do without
'verzichten' and 'erlassen' can both mean that something is no longer demanded. 'verzichten' is more general: A person decides not to use, do, or claim something. 'erlassen' is used when someone is released from a debt, punishment, or obligation. The word often fits with money, fees, penalties, or official obligations. The words can be confused because when someone 'erlässt' something, they are also giving up a claim. But 'erlassen' usually needs a person or institution with the power to cancel an obligation for someone else.

Die Stadt erlässt dem Verein die Gebühr für die Halle.
The city waives the club's fee for the hall.
Beim Einkaufen verzichten wir heute auf Süßigkeiten.
When shopping today, we are doing without sweets.