Bill > SB2199

This bill, known as the "Regulatory Freedom Act of 2026," aims to modify how state agencies create and implement rules that affect businesses and individuals, referred to as the "regulated community." Key provisions include requiring agencies to prominently publish new or amended rules on their websites and make a good faith effort to notify relevant trade associations or organizations at least 45 days before a public hearing, providing them with a copy of the rule and inviting comments. The bill also introduces the concept of a "fiscal impact statement," which is an estimate of the actual cost of complying with a new or amended rule for the regulated community, excluding speculative costs. Agencies must generate this statement for rules anticipated to have a negative fiscal impact and can only do so after the public comment period to allow for input. Furthermore, if a rule's estimated negative fiscal impact exceeds $1 million over five years (or one year for emergency rules), it will require approval by a majority vote in both the House and Senate as a standalone legislative measure, in addition to the usual approval process by the joint government operations committee. Emergency rules with a significant negative fiscal impact will also have a shorter lifespan and may expire unless specifically approved by the General Assembly. These requirements generally do not apply to rules mandated by federal law or those related to changes in licensure fees.