S. 1472 — Introduced in Senate

II 113th CONGRESS 1st Session S. 1472 IN THE SENATE OF THE UNITED STATES August 1, 2013 Ms. Klobuchar (for herself and Ms. Collins) introduced the following bill; which was read twice and referred to the Committee on the Budget A BILL To create a division within the Congressional Budget Office that would perform regulatory analysis. 1. Short title This Act may be cited as the Strengthening Congressional Oversight of Regulatory actions for Efficiency. 2. Regulatory analysis by CBO Title II of the Congressional Budget Act of 1974 is amended by inserting at the end the following: 204. Regulatory analysis division (a) In general The Director shall establish and maintain a separate Regulatory Analysis Division (referred to in this section as the ‘division’) within the Office that shall be responsible for assessing the impact of Federal rules and regulations. (b) Analysis The responsibilities of the division shall include— (1) an analysis, during the public comment period upon the proposal of a rule, of the prospective economic impact of economically significant rules having an annual effect on the economy of $100,000,000 or more or adversely affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, public health or safety, or State, local, or tribal governments or communities; and (2) analysis of economically significant regulations that have been in effect for 5 years, including an analysis of costs and benefits to determine if the regulation is meeting the stated goals the regulation was intended to provide. (c) Authorization for appropriation There are authorized to be appropriated such sums as are necessary for the division to carry out its duties. .