rulemaking; legislative ratification; regulatory costs

This bill proposes a new law requiring state agencies to submit any rule expected to cost over $100,000 annually to the Office of Economic Opportunity for review. If the office determines the rule will cost more than $500,000, the rule cannot take effect unless the Legislature explicitly approves it through new legislation. The bill also allows regulated individuals and legislators to request these cost reviews and requires agencies to cancel such rules if the Legislature does not act within the current session. This process applies to most rules but excludes emergency rules and those issued by the Corporation Commission.