A bipartisan House proposal looks to codify existing programs, set an all-hands-on-deck approach to AI governance and allow for the federal preemption of state AI laws for 3 years.

The draft legislation represents Republicans’ last realistic chance to craft federal rules governing artificial intelligence before the midterm elections.

Reps. Jay Obernolte (R-CA) and Lori Trahan (D-MA) are releasing a highly anticipated 269-page draft bill as a launching pad for discussion about federal AI regulation, Politico…