NC S480

Prohibits state agencies from adopting permanent rules with projected aggregate financial costs of $100 million or more during any five-year period.

Requires rules with projected costs of $10 million or more during any five-year period to obtain approval from: 60% of voting board/commission members, the relevant Council of State member, or the Governor (depending on agency type).

Subjects rules costing $10 million or more to legislative review procedures as if they had received objections from 10 or more persons, allowing the General Assembly to disapprove them.

Modifies rules for incorporating federal codes and standards by reference to require agency review and approval of any federal changes within 120 days.

Effective date is August 1, 2017 for proposed permanent rules and readopted rules.