IA SF2314

Defines "major rule" as any administrative rule requiring annual expenditures of at least $200,000, combined expenditures of $1 million within five years, having significant adverse effects on competition/employment/investment, or amending the state Clean Air Act implementation plan.

Requires agencies to classify proposed rules as major or non-major in notices of intended action, with an explanation for the classification.

Mandates notices of intended action include the proposed rule text, tentative effective date, and a list of all related regulatory actions implementing the same statutory provision along with their economic effects.

Requires regulatory analyses to include cost-benefit comparisons between the proposed rule and inaction, including estimated direct benefits, cost savings to society, and compliance costs for regulated entities.

Establishes that legislative standing committee chairs and ranking members receive electronic copies of rule notices for additional study through the legislative services agency.