A bill for an act relating to executive branch functions, including ratification of major administrative rules and certain other actions, other matters relating to the state rulemaking process, and terms of service of certain appointed members of certain boards, and including applicability provisions.

SF 2314 clarifies Iowa's rulemaking process by defining "major rules" as those with significant costs (e.g., $200,000+ annual expenditures or major economic impacts) or effects on competition, employment, or Clean Air Act implementation. It requires state agencies to provide detailed public notices - including rule text, economic impact summaries, and classification as "major" - and conduct regulatory analyses comparing costs, benefits, and less burdensome alternatives before adopting such rules. The bill also mandates the Legislative Services Agency to independently review major rules, assess their impacts on businesses and state finances, and publish findings for legislative consideration. This affects state agencies creating regulations and regulated entities (like businesses) by adding transparency and review steps for significant rules.