IN HB1294

Establishes a 12-member Administrative Rules Review Committee composed of state legislators appointed by Senate and House leadership to review agency rules and executive orders

Requires agencies to submit rules and executive orders to the Legislative Services Agency's Office of Fiscal Management and Analysis for fiscal impact estimation on state and local government

Rules with estimated fiscal impact exceeding $300,000 in any two-year period must be reviewed by the committee and cannot take effect unless authorized by legislation passed by the General Assembly

Allows the governor to bypass legislative authorization by certifying an emergency exists, but emergency rules automatically expire after one year and cannot be renewed without legislative approval

Takes effect July 1, 2026, and applies to rulemaking actions commenced after June 30, 2026