AL HB42

Sets a $1 million threshold for proposed rules' economic impact; rules exceeding this amount require either legislative joint resolution approval or joint committee approval of a modified rule to take effect.

Requires Legislative Services Agency, Fiscal Division to analyze accuracy and veracity of fiscal notes for rules with estimated costs of $750,000 or more within 21 days of rule certification.

Allows any Legislature member or joint committee member to request that the joint committee require an agency to prepare and submit a Business Impact Analysis by majority vote.

Requires agencies to submit germane modifications to reduce rule costs below the $1 million threshold, considering options such as less stringent compliance requirements, extended deadlines, simplified reporting, or performance standards.

Becomes effective on the first day of the third month following passage and approval by the Governor.