SECTION 1. Notwithstanding any general or special law, rule or regulation to the contrary, any agency that approves a state grant in excess of $500,000 to a person or a public or private entity shall submit a detailed cost benefit analysis to the joint committee on state administration and regulatory oversight no later than 30 days after authorization of said grant. The analysis shall contain: a detailed explanation of the process used for the selection of the grantee; the number of applications for the grant; an accounting of an expectation that the issuance of the grant will create or maintain existing jobs in the Commonwealth, if any; and an account of all grants received by the grantee during the present fiscal year from all other state agencies.

SECTION 2. Notwithstanding any general or special law to the contrary the executive office of administration and finance shall within 1 year of implementation of any legislation shall provide a fiscal impact to the citizens of the commonwealth of said legislation. Said fiscal impact shall be posted on the website of the executive office of administration and finance, and submitted to the clerks of the house and senate.