Bill > S1737

This bill aims to reform the regulatory process by introducing new oversight mechanisms and requirements for state agencies. It establishes that agencies must file adopted rules with the joint committee on state administration and regulatory oversight (the "committee") simultaneously with the Secretary of State, and this committee will have the power to examine these rules to ensure they are a valid exercise of delegated authority, necessary to implement statutes, reasonable for affected persons, and that agencies have complied with regulatory analysis requirements. The committee can approve, propose amendments to, or disapprove rules, with specific timelines and procedures for each outcome, including provisions for agencies to amend and resubmit rules or for disapproved rules to potentially become law if the legislature sustains the committee's action. Additionally, the bill mandates that regulations have an economic impact statement on small businesses and requires agencies to prepare a subsequent regulatory analysis if requested by certain officials or a group of 300 interested persons, detailing benefits, costs, and alternatives. Agencies will also be required to review their rules every six years to ensure they minimize economic impact on small businesses, considering various factors and filing a report with the committee. Finally, any state grant exceeding $500,000 will require the approving agency to submit a detailed cost-benefit analysis to the committee, including information on the selection process, applications received, job creation expectations, and other grants received by the recipient.