Amends GS 150B-21.3 (pertaining to effective date of rules under the APA), as follows. Requires that any permanent rule that would have an aggregate economic impact on all persons affected of at least $1 million as calculated under law in a 12-month period (an Economic Rule) can only become effective if the NCGA ratifies a bill approving the rule with the rule becoming effective in accordance with the described timetable. Allows for any member of either chamber to introduce a bill during any regular or special session to approve a rule upon the earlier of either the day following a recommendation on the rule by the Joint Administrative Procedure Oversight Committee (the specified NCGA committee) or sixty days after the specified NCGA committee receives the rule for review but has not made a recommendation on the rule. Exempts an Economic Rule from the objection period. Provides for notice in GS 150B-21.11 (procedure when Rules Review Commission [Commission] approves permanent rule) to the chairs of the specified NCGA committee by the Commission when it approves an Economic Rule.

Expands what an agency must consider in determining the substantial economic impact of a rule under GS 150B-21.4 (fiscal and regulatory impact analysis under rules) to include an estimate of the combined cost of the baseline conditions and the proposed rule, including direct costs as well as opportunity costs, as described.

Makes organizational and conforming changes, including to GS 120-70.101 (purpose and powers of the specified NCGA committee).

Applies to rules adopted on or after the act becomes law.