This bill mandates that state agencies conduct a cost-benefit analysis for any proposed administrative rules, ensuring that the total projected benefits exceed the total projected costs before adoption. It introduces new definitions for "benefit," "cost," "best practices," and "stakeholder," and requires agencies to publish both preliminary and final cost-benefit analyses in the State Register. The bill also stipulates that agencies must consult with the commissioner of management and budget to assess the projected costs and benefits for local governments. Additionally, it outlines the need for transparency in the analysis process, including the publication of all relevant documentation on a public website.

Furthermore, the bill prohibits the adoption of certain rules unless they comply with the new cost-benefit analysis requirements, and it requires notification to the legislature upon the adoption of exempt rules. It amends existing statutes to incorporate these provisions, including the necessity for a statement of need and reasonableness that includes the cost-benefit analysis. The bill also establishes that a rule may be declared invalid if it is found to be supported by a significantly deficient final cost-benefit analysis. The act is set to take effect the day after final enactment and applies to rules adopted or amended thereafter.

Statutes affected:
Introduction: 14.002, 14.02, 14.131, 14.14, 14.15, 14.386, 14.388, 14.389, 14.44, 14.45