{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-8016","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-8016","heading":"Economic analysis of proposed major rules","body":"A. The Legislative Office of Fiscal Transparency (LOFT) shall\n\nprovide independent and reliable economic analysis to assist the\n\nLegislature in reviewing proposed administrative rules of state\n\nagencies classified as major rules pursuant to the Administrative\n\nProcedures Act. Unless otherwise approved by the President Pro\n\nTempore of the Senate and the Speaker of the House of\n\nRepresentatives, the duties prescribed by this section shall be\n\naccomplished within the existing full-time-employee count of LOFT.\n\nB. 1. Within twenty-one (21) calendar days of receiving a\n\nproposed rule and its supporting documents, LOFT shall analyze\n\nwhether the proposing agency has complied with the requirements of\n\nSection 303 of Title 75 of the Oklahoma Statutes. LOFT shall assess\n\nwhether the proposed rule could result in implementation and\n\ncompliance costs of more than One Million Dollars ($1,000,000.00)\n\nover the initial five-year period after implementation.\n\n2. The reporting requirements of this section shall not be\n\nconstrued to prevent the approval and promulgation of emergency\n\nrules pursuant to Section 253 of Title 75 of the Oklahoma Statutes.\n\nC. 1. LOFT shall furnish a report on each major rule to the\n\nchairs of the committees designated by the President Pro Tempore of\n\nthe Senate and the Speaker of the House of Representatives by the\n\nend of the twenty-first calendar day after its submission.\n\n2. LOFT shall inform the chairs of the designated committees if\n\nthe rule impact statement from the agency is incomplete or contains\n\nsubstantive inaccuracies.\n\nD. If a chair of a committee designated under subsection C of\n\nthis section reasonably believes that the provisions of a proposed\n\nnonmajor rule may constitute designation as a major rule, the chair\n\nmay request that LOFT analyze the rule pursuant to the provisions of\n\nthis section.\n\nE. State agencies shall cooperate fully with LOFT and the\n\nLegislature in providing data, documentation, and analysis required\n\nunder this act.\n\nF. LOFT shall make all analyses and determinations publicly\n\navailable on its website upon completion.\n\nG. An annual report summarizing the year’s evaluations and\n\nfindings shall be submitted electronically to the Governor, the\n\nPresident Pro Tempore of the Senate, and the Speaker of the House of\n\nRepresentatives and shall be published on LOFT’s website. Within\n\nthe annual report, LOFT shall quantify the impact of its work,\n\nincluding reductions in regulations, cost savings, and other\n\nmeasurable benefits to the economy.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"019feeff26e47ce7de3578b94217394009eeebb5ea0bd6d989e69877c0d6d8d2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-8015","next":"us-ok/okla.-stat.-tit.-62-62-802"},"notice":"GroundRules: Original legal text. Not legal advice."}