HB0935 Summary

• Requires agencies to estimate compliance and implementation costs for proposed rules before filing and notify the Joint Committee on Administrative Rules if costs exceed $10,000,000 over 2 years.

• Expands private sector participation in rulemaking by requiring agencies to provide opportunities for all private sector entities (not just small businesses) to submit compliance cost estimates during the first notice period, which must be included in final regulatory flexibility analyses.

• Automatically prohibits any proposed rule or amendment estimated to generate $10,000,000 or more in compliance costs over 2 years unless authorized by legislation passed by both houses and signed by the Governor.

• Extends the maximum length of the second notice period from 90 days to 135 days and requires the Commission on Government Forecasting and Accountability to publish an annual inflation index to adjust the $10,000,000 threshold over time.

• Automatically suspends emergency rules estimated to generate $10,000,000 or more in compliance costs until authorized by legislation passed by both houses and signed by the Governor, and grants the Joint Committee power to request independent cost estimates from the Auditor General.