INTERIM ADMIN. RULES OVERSIGHT COMMITTEE

HB 358 creates a 12-member "Interim Administrative Rule Oversight Committee" to review proposed state agency rules before public hearings. The committee, appointed equally from both parties in each chamber, analyzes rules for fiscal impact (requiring a statement for rules costing over $1 million), necessity, and legal compliance, then recommends changes to agencies. This directly affects executive agencies proposing rules and stakeholders impacted by those rules, adding a legislative review step before public comment periods. The bill amends New Mexico's State Rules Act to mandate fiscal impact statements for high-cost rules and establishes the committee's procedures.