North Carolina S705 limits the financial impact of permanent rules by requiring higher votes for adoption.

North Carolina S705 imposes stricter voting requirements for the adoption of permanent rules with substantial financial costs. If a proposed rule's aggregate financial cost to all affected persons is $10 million or more over five years, the rule must be approved by a unanimous vote of the board or commission. For rules costing $1 million or more, a two-thirds majority vote is required. The bill also mandates a substantial economic impact analysis for such rules, including a fiscal note prepared by the Office of State Budget and Management.

North Carolina S705 limits the financial impact of permanent rules by requiring higher votes for adoption.

North Carolina S705 imposes stricter voting requirements for the adoption of permanent rules with substantial financial costs. If a proposed rule's aggregate financial cost to all affected persons is $10 million or more over five years, the rule must be approved by a unanimous vote of the board or commission. For rules costing $1 million or more, a two-thirds majority vote is required. The bill also mandates a substantial economic impact analysis for such rules, including a fiscal note prepared by the Office of State Budget and Management.