Under the plans, pubs and nightclubs will be able to serve alcohol for an extra hour, until 2 am almost every Friday and Saturday.
Drinking-up time will be extended to an hour, meaning venues can operate until 3 am at weekends.
The legislation also proposes removing all restrictions around Easter drinking.
Currently restrictions on selling alcohol are in place from the Thursday before Easter until Easter Sunday.
Alcohol can only be served between 5 pm and 11 pm on Good Friday and bars have to stop serving at midnight on Thursday and Easter Saturday.
The Department for Communities carried out a consultation last year, and said “changing social habits and the growing importance of the tourism industry” had prompted the calls for changes to Easter licensing laws.
The other main change is the extension in “drinking-up time” from half an hour to an hour.
The law will also be tightened in some areas – supermarkets will face restrictions on where they can place in-store advertising for alcohol.
The current voluntary code of practice for drinks promotions will be replaced with legal requirements.
The proposals have been a very long time in the making, with Stormont first proposing changes eight years ago.
A previous bill to change the North’s licensing laws began its legislative passage in 2016, but the assembly collapsed in January 2017 amid a bitter row between the DUP and Sinn Féin.
The new bill is expected to become law in time for Easter 2022.
The North’s hospitality sector has been closed since October 16 due to restrictions agreed by the Executive to tackle the spread of Covid-19.
Some in the industry have proposed a compliance certificate should be drawn up, to allow those firms adhering properly to the rules to reopen.
The four week restrictions finish on November 13.
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