The bill amends the Administrative Procedures Act and the State Rules Act to improve oversight and accountability for major rules issued by state agencies. It mandates that the Legislative Finance Committee conduct rule impact analyses for major rules, defined as those with significant financial or social implications. These analyses must evaluate costs, benefits, and alternatives, and be made publicly accessible. Major rules will not take effect without legislative authorization, and all agency rules require the governor's approval prior to publication. Additionally, the bill introduces a five-year automatic expiration for rules unless renewed by the legislature and establishes judicial review procedures to ensure compliance with necessary requirements.

The bill also revises definitions and requirements related to rulemaking processes, including a new definition for "major rule" based on economic and social impacts. It requires agencies to classify proposed rules as major or not and to submit a cost-benefit analysis to the Legislative Finance Committee. Furthermore, it mandates a periodic review of rules every five years to assess their economic impact on small businesses, with findings submitted to the legislature. Existing rules will automatically be considered adopted under these new provisions upon the bill's effective date, aiming to enhance transparency and ensure that rules remain relevant and economically viable.

Statutes affected:
introduced version: 2-5-4, 12-8-2, 12-8-4, 12-8-8, 14-4-2, 14-4-5.2, 14-4A-6