Limit Rules With Substantial Financial Costs.

Added a new Section 3 requiring a two-thirds vote for rules with projected costs of $1 million or more over five years, but only for boards, commissions, councils, or similar government units.

Refined the definition of cost analysis in Section 2, requiring agencies to monetize costs to the greatest extent possible and apply a 7% discount factor for future costs.

Removed draft metadata, committee substitute notes, and sponsor information as the bill moved from a working draft to a ratified final version.

The bill version number was updated from Edition 3 to Edition 4, and the date was updated to reflect the Fourth Edition.

Increased the financial cost threshold for rules requiring legislative ratification from $1 million in 12 months to $20 million over five years.

Changed the objection trigger to require 10 or more written objections to initiate legislative review, replacing the previous unspecified number.

Updated the definition of 'substantial economic impact' to measure costs over a five-year period instead of a 12-month period.

Renamed the bill from the 'NC REINS Act' to 'Limit Rules With Substantial Financial Costs' to reflect the new focus on financial impact.

Changed the trigger for legislative review from a specific dollar threshold to a general 'substantial economic impact' standard.

Added a mandatory requirement for agencies to obtain fiscal note approval from the Office of State Budget and Management before publishing rules with substantial economic impact.

Added specific guidelines on how agencies must calculate and document baseline costs and incremental changes to determine economic impact.

Removed the list of primary sponsors from the bill header.

Updated the bill title to include clarification on judicial deference to agency interpretations.

New requirement that permanent rules with an economic impact of $1 million or more must be ratified by the General Assembly to become effective.

Mandates that agencies prepare fiscal notes for proposed rules with substantial economic impact before publication.

Established a 30-day legislative window for members to introduce bills disapproving rules that have received 10 or more public objections.

Added specific definitions for 'substantial economic impact' and formalized the objection process for permanent rules.

The document header was updated to reflect Senate Amendment A1 status, replacing the original House Bill title page and sponsor information.

The original bill text regarding the 'NC REINS Act' was removed and replaced with Senate amendment instructions directing changes to specific lines on page 3.

Senate-specific signature lines and voting status fields (Adopted, Failed, Tabled) were added to the footer.