This bill establishes the Legislative Economic Analysis Unit within the Nebraska Legislature to provide independent economic analysis and information to support legislative oversight. It defines "major rule or regulation" as those likely to have significant economic impacts or adverse effects on competition and employment. The Chief Economist, appointed by the Speaker of the Legislature, will lead the unit, which will conduct regulatory impact analyses, assess existing regulations, and analyze significant external grants. The bill also sets procedural requirements for agencies submitting rules, including public notice and detailed economic reports, and mandates legislative approval for publishing major rules.

Additionally, the bill amends the process for agencies to request emergency rules or regulations, requiring a written justification for the necessity of such rules. The Governor can only approve a major rule by publishing a statement that outlines the urgency of the emergency and compliance with relevant statutes. While agencies can use the emergency rule procedure, they cannot bypass timely rule adoption. The bill exempts these emergency rules from certain notice and hearing requirements, allowing them to take effect for ninety days upon the Governor's approval, with a possibility of renewal. It also repeals previous sections of law that are now outdated due to these changes.

Statutes affected:
Introduced: 84-901, 84-901.04