HB2021 Summary

• Requires financial impact statements to be filed with all administrative rules promulgated by state agencies and filed with the Bureau of Legislative Research at least 30 days before the public comment period expires.

• Mandates written findings from agencies when a rule creates a financial impact of at least $100,000 per year to private individuals, entities, businesses, or government, including the rule's basis, purpose, problem addressed, factual evidence, alternatives considered, and a plan for periodic review.

• Expands rule-making procedures in § 25-15-204 to require agencies to consider specific factors including statutory requirements, existing rules, the nature of the problem, reasonable alternatives, and financial impact before adopting rules.

• Requires agencies to post final rules and related information on their websites, including the final rule text, all written comments received, summaries of comments and agency responses, financial impact summaries, and the proposed effective date.

• Repeals Arkansas Code § 25-15-301 et seq. (the small business economic impact statement requirements), consolidating financial impact review provisions into the main Administrative Procedure Act framework.