Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that requires federal agencies to conduct a more detailed assessment of the costs and effects of federal regulations on state, local, and tribal governments and the private sector.

Highlights:

• Requires a federal agency to assess the effects of federal regulations on state, local, and tribal governments and the private sector through certain methods, including, but not limited to, the following methods (Sec. 8):
• Each agency shall identify and assess alternatives to direct regulation;
• Each agency shall design a regulation in a cost-effective manner; and
• Each agency shall ensure that a proposed regulation’s benefits “justify” its costs.

• Expands the information that a federal agency is required to include in a written statement for a federal mandate that may result in a cost of at least $100 million in a year to include certain information, including, but not limited to, the following information (Sec. 9):
• A description of the need for the proposed or final rule and how the rule will meet that need;
• An explanation of how the rule avoids undue interference with state, local, and tribal governments;
• A description of an agency’s prior consultation with the private sector and elected representatives that summarizes their concerns; and 
• An assessment of the rule’s expected effects on private property owners.

• Requires a federal agency to consult with a variety of state, local, and tribal officials and impacted parties within the private sector on the cost of a “significant” federal mandate and any alternative methods of compliance throughout the rulemaking process (Sec. 10).

• Specifies that an agency’s failure to prepare a required written statement for proposed “significant” regulation may be used as a basis for invalidating the rule during a judicial review (Sec. 13). 

• Requires a federal agency to conduct a retrospective analysis of an existing federal regulation at the request of a chairman or ranking minority member of Congress (Sec. 12).

Full Bill Text

Full Bill Text