“To require the heads of agencies identify whether major rules of the agency are budget neutral, and for other purposes.”
No CRS summary available for this bill.
This section requires the head of each agency, before promulgating a major rule, to (1) estimate the cost of the rule to the public (including costs to understand or implement it); (2) identify and repeal another agency rule to offset that cost; and (3) include a Federal Register statement identifying whether the rule is budget neutral (i.e., new costs equal total public costs eliminated by the repeal). It defines relevant terms, including "agency" and "rule" with the meaning given in 5 U.S.C. §551 (with "rule" expanded to include interpretative rules, general statements of policy, and other agency guidance documents, but excluding rules of particular applicability, agency management or personnel rules, or procedural rules without substantial effects on non-agency parties); and "major rule" as any rule (including interim final rules) that the Office of Information and Regulatory Affairs Administrator or promulgating agency finds likely to have an annual economic effect of $100 million or more, major cost or price increases for consumers or governments, or significant adverse effects on competition, employment, investment, productivity, innovation, or U.S. enterprise competitiveness.