The bill enacts a new provision in the Administrative Procedure Act, specifically R.S. 49:961(E)(4), which establishes a framework for evaluating proposed actions that may have significant fiscal or economic impacts. Under this new provision, any proposed action identified by the legislative fiscal office as likely to result in state expenditures or economic costs exceeding $200,000 annually or $600,000 over three years cannot take effect without approval from the relevant legislative oversight subcommittees. However, if the fiscal office determines that the impact is less than or equal to the amounts noted in the fiscal note for the related legislation, this requirement does not apply.

Additionally, the bill outlines a scenario where a proposed action may proceed without oversight committee approval if a committee fails to hold a hearing within thirty days of receiving the necessary report, and the governor provides written approval of the action. This provision aims to streamline the process while ensuring that significant fiscal impacts are adequately reviewed and approved by the appropriate legislative bodies.

Statutes affected:
SB59 Original: 49:961(A)(2), 49:962(D)(1), 49:962(E)
SB59 Engrossed: 49:961(A)(2)
SB59 Reengrossed: 49:961(A)(2)