JCAR-RULES ECONOMIC IMPACT

Amends the Illinois Administrative Procedure Act. Provides that an agency that proposes a new rule or amendment to a rule shall, before or during the first notice period, provide an opportunity for private sector entities to participate in the rulemaking process by utilizing specified techniques, as well as providing those private sector entities with the opportunity to submit their own estimates on the cost of compliance with the proposed rule or amendment. Requires an agency to include those estimates in both a final regulatory flexibility analysis and an analysis of the economic and budgetary effects of the proposed rulemaking. Provides that prior to the filing for publication in the Illinois Register of any proposed rule or amendment, each agency shall estimate the compliance and implementation costs for private parties for that proposed rule or amendment. Extends the maximum length of the second notice period from 90 days to 135 days. Provides that a rule estimated either by an agency or during the second notice period to generate compliance and implementation costs of $10,000,000 or more over a 2-year period shall be deemed objectionable and automatically prohibited, and the Joint Committee on Administrative Rules shall issue a statement to that effect in accordance with specified provisions. Provides that the proposed rule or amendment shall remain prohibited until otherwise authorized by legislation passed by both houses of the General Assembly and signed by the Governor. Provides that any adopted emergency rule estimated to generate compliance and implementation costs of $10,000,000 or more over the term of the emergency rule shall be automatically suspended until otherwise authorized by legislation passed by both houses of the General Assembly and signed by the Governor. Requires the Commission on Government Forecasting and Accountability to publish an annual inflation index to measure the rise in costs stemming from the implementation of rules and amendments to rules. Provides that the Joint Committee has the power to request the Auditor General to perform an independent estimate to assess the cost of a proposed rule or amendment, or the cost of an emergency rule. Provides further requirements concerning the prohibition of proposed rules or amendments. Makes conforming changes.