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(1) Before legally binding the state to an action settlement agreement that might cost the state a total of $100,000 or more to implement, an agency shall estimate the cost of implementing the action settlement agreement and submit that cost estimate to the governor and the Legislative Management Committee.
(2) The Legislative Management Committee may:
(a) direct its staff to make an independent cost estimate of the cost of implementing the action settlement agreement; and
(b) affirmatively adopt a cost estimate as the benchmark for determining which authorizations established by this part are necessary.