Hawaii HB1762 mandates economic impact analysis for major rules and requires legislative approval for major rules costing over $1 million.

Hawaii HB1762 introduces a cost-benefit analysis requirement for major administrative rules, defining a financial impact threshold of one million dollars. The bill mandates that state agencies conduct a comprehensive economic impact analysis for proposed major rules, detailing implementation and compliance costs. It requires agencies to consult with businesses, local governments, and the public before adopting major rules. Major rules cannot take effect unless approved by the legislature through a concurrent resolution.

Hawaii HB1762 mandates economic impact analysis for major rules and requires legislative approval for major rules costing over $1 million.

Hawaii HB1762 introduces a cost-benefit analysis requirement for major administrative rules, defining a financial impact threshold of one million dollars. The bill mandates that state agencies conduct a comprehensive economic impact analysis for proposed major rules, detailing implementation and compliance costs. It requires agencies to consult with businesses, local governments, and the public before adopting major rules. Major rules cannot take effect unless approved by the legislature through a concurrent resolution.