OK SB318

Establishes the "Regulations from the Executive in Need of Scrutiny (REINS) Act of 2025" requiring legislative approval for major administrative rules

Defines "major rule" as any administrative rule expected to result in $1,000,000 or more in implementation and compliance costs to businesses, local governments, and individuals over the initial five-year period

Creates a Legislative Economic Analysis Unit (LEAU) within the Legislative Office of Fiscal Transparency with up to 5 employees to independently review agency economic impact analyses within 21 calendar days of receiving proposed rules

Requires state agencies proposing major rules to submit detailed economic impact analyses including methodology, cost quantification, federal mandate status, and measures taken to minimize regulatory burden

Prohibits major rules from taking effect unless specifically approved by the Legislature through a joint resolution receiving a constitutional majority in each chamber; effective November 1, 2025