Requires an agency to conduct a regulatory analysis for certain proposed rules, including if the implementation and compliance costs are at least $1,000,000. Requires the office of management and budget to notify the legislative council of certain proposed rules that have a fiscal impact of over $1,000,000 over the course of two years. Provides that certain proposed rules shall not be effective until the general assembly passes a bill authorizing the rule.

Statutes affected:
Introduced Senate Bill (S): 4-22-2-3, 4-22-2-22.7, 4-22-2-37.1, 4-22-2-37.2
Senate Bill (S): 4-22-2-3, 4-22-2-22.7, 4-22-2-37.1, 4-22-2-37.2
Engrossed Senate Bill (S): 4-22-2-3, 4-22-2-22.7, 4-22-2-37.1, 4-22-2-37.2