,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bjii  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,m>* #aj1 #bjad ,mr4   
,coats introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,homel& ,security & ,gov]nm5tal ,affairs
  ,a ,,bill  ,to am5d title #e1 ,unit$  
,/ates ,code1 to e/abli% uni=m          
requirem5ts = ?or\gh economic analysis (
 regulations by ,f$]al ag5cies bas$ on  
s\nd pr9ciples1 & = o!r purposes4  #a4  
,%ort title  ,?is ,act may be cit$ z !  
,s\nd ,regulation ,act ( #bjad4  #b4    
,f9d+s  ,congress f9ds ! foll[+3  7#a7  
,gr[+ ,f$]al regulation t is highly     
prescriptive 9 nature burd5s & impairs !
 int]national competitiv5ess ( indu/ry 9
 ! ,unit$ ,/ates4  7#b7 ,prescriptive   
regulation takes away flexibility1 is   
adv]s>ial 9 nature1 leads to un9t5d$    
consequ5ces1 &1 especially z x          
prolif]ates1 sl[s economic gr[? & job   
creation4  7#c7 ,despite evid5ce (      
increas+ regulatory co/s1 ,f$]al ag5cies
 hold fa/ to ! presumption t _! rules   

are 9 ! public int]e/4  7#d7 ,"s /atutes
 prohibit ag5cies f consid]+ co/s &     
b5efits 9 rulemak+1 al?\gh no /atutes   
prohibit ag5cies f analyz+ ! co/s &     
b5efits ( rules = in=mative purposes4   
7#e7 7,a7 ,co/-b5efit analysis is n     
in/itutionaliz$ = indep5d5t regulatory  
ag5cies4  7,b7 ,executive ag5cies p]=m  
co/-b5efit analysis pursuant to         
,executive ord] & "u ! purview ( !      
,(fice ( ,in=mation & ,regulatory       
,affairs 7commonly ref]r$ to z ,,oira71 
:i* takes direction f ! ,presid5t4  7,c7
 ,pe] review is n requir$ = co/-b5efit  
analysis by indep5d5t regulatory ag5cies
 or executive ag5cies4  7#f7 ,!re are   
no-- 7,a7 /atutory /&>ds = co/-b5efit   
analysis 9 ,f$]al rulemak+2 or  7,b7    
consi/5t1 mat]ial consequ5ces :5 rules  
are bas$ on faulty or inadequate        
analysis4  7#g7 ,ag5cies-- 7,a7 conduct 
_! own regulatory impact analysis-- 7i7 
l>gely by me?ods ( _! own *oos+2 &  7ii7
 only on a small fraction ( ! rules !y  
issue2 &  7,b7 use regulatory co/-b5efit

 analysis ma9ly 9 support ( favor$1     
preconceiv$ rules r ?an z a decision    
tool4  7#h7 ,common defici5cies 9 !     
regulatory analysis us$ by ag5cies      
include--  7,a7 lack ( a coh]5t !ory by 
:i* to-- 7i7 def9e a problem2  7ii7     
det]m9e :y ! problem occurs2 &  7iii7   
guide ! ag5cy to ! mo/ effici5t         
response2  7,b7 lack ( objective evid5ce
 t an actionable problem actually exi/s1
 :at its dim5sions are1 & h[ !y diff] f 
acceptable norms2  7,c7 lack (          
compreh5sive analysis to-- 7i7 det]m9e  
:e!r a m>ket malfunction exi/s2 &  7ii7 
ori5t rulemak+ to ! causes1 n !         
symptoms1 ( ! m>ket malfunction2  7,d7  
failure to set cle> & reali/ic          
objectives ^: b5efits ju/ify ! co/ (    
a*iev+ ! objectives2  7,e7 objectives   
t-- 7i7 are disconnect$ f co/s2 &  7ii7 
may be expansive & vague s t any        
regulation c be made to appe> b5eficial2
  7,f7 ag5cies increas+ly claim+-- 7i7  
incid5tal b5efits 7also kn[n z          
co-b5efits7 t are n 9 fur!rance ( ! /at$

 objective2 &  7ii7 ev5 private1 z      
oppos$ to public1 b5efits = rules2  7,g7
 failure to-- 7i7 develop regulatory    
options 9 light ( m>ket analysis2 &     
7ii7 rank regulatory options by h[      
effici5tly !y w improve ! m>ket process2
  7,h7 inconsi/5t assumptions &         
me?odologies across ag5cies2  7,i7      
invalid basel9es = gaug+ regulatory     
effects2  7,j7 ! omission ( important   
impacts1 su* z ! impact on employm5t &  
on ! int]national competitiv5ess (      
,unit$ ,/ates firms2  7,k7 failure to   
reevaluate regulations aft]             
implem5tation2 &  7,l7 failure to       
consid] ! cumulative co/s ( regulation  
by ! v>i\s ,f$]al1 ,/ate1 local1 &      
tribal ag5cies4  7#i7 7,a7 ,despite     
cont9ually *ang+ m>ket conditions1      
ag5cies d n-- 7i7 regul>ly review _!    
exi/+ regulations & regulatory regimes2 
or  7ii7 review ! division ( functions--
 7,i7 among diff]5t ,f$]al ag5cies2 or  
7,,ii7 among ,f$]al1 ,/ate1 local1 &    
tribal ag5cies4  7,b7 ,regulations lose 

_! purpose1 yet l+] & accumulate1 impos+
 unnecess>y co/s & sl[+ economic gr[? to
 ! detrim5t (-- 7i7 mat]ial liv+ /&>ds2 
&  7ii7 to "s ext5t1 ! v social         
conditions t are ! objects ( regulation4
  7#aj7 7,a7 ,ag5cies typically d n--   
7i7 proactively conduct regulatory co/  
/udies2 &  7ii7 report to ,congress on  
unnecess>y co/s t are n "u ! control ( !
 ag5cies because ( ! way laws are       
writt54  7,b7 ,ag5cy recomm5dations on  
h[ to improve ! effici5cy ( regulation  
by modify+ an exi/+ /atute c\ld be      
helpful to ,congress4  #c4  ,uni=m use (
 co/-b5efit analysis  ,section #eec (   
title #e1 ,unit$ ,/ates ,code1 is am5d$ 
by add+ at ! end ! foll[+3  7f7  7#a7   
,be=e an ag5cy publi%es or o!rwise      
provides notice ( a notice ( propos$    
rulemak+ "u ?is section1 ! ag5cy %all   
comply ) ! foll[+ requirem5ts ) respect 
to ! propos$ rule3  7,a7 ,! ag5cy %all  
id5tify1 9 ! context ( a coh]5t         
conceptual framework & support$ )       
objective data--  7i7 ! nature &        

significance ( ! m>ket failure1         
regulatory failure1 or o!r problem t    
necessitates regulatory action2  7ii7 ! 
reasons :y national economic & income   
gr[?1 advanc+ te*nology1 & o!r m>ket    
developm5ts w n obviate ! ne$ = !       
rulemak+2  7iii7 ! reasons :y regulation
 at ! ,/ate1 local1 or tribal level c\ld
 n address ! problem bett] ?an at !     
,f$]al level2  7iv7 ! reasons :y r$uc+ r
 ?an increas+ ! ext5t or /r+5cy ( exi/+ 
,f$]al regulation w\ld n address !      
problem bett]2 &  7v7 ! p>ticul>        
au?ority "u :i* ! ag5cy may take action4
  7,b7 ,be=e ! ag5cy increases ! ext5t  
or /r+5cy ( regulation bas$ on its      
det]m9ations pursuant to subp>agraph    
7,a71 ! ag5cy %all--  7i7 set an        
a*ievable objective = its regulatory    
action & id5tify ! metrics by :i* !     
ag5cy w measure progress t[>d !         
objective2  7ii7 issue a notice (       
inquiry seek+ public comm5t on !        
id5tification ( a new objective "u      
clause 7i72 &  7iii7 give notice to !   

committees ( ,congress ) jurisdiction   
ov] ! subject matt] ( ! rule4  7,c7 ,if 
! ag5cy is n seek+ to repeal a rule1 !  
ag5cy %all develop n less ?an #c di/9ct 
regulatory options1 9 addition to n     
regulat+1 t ! ag5cy e/imates w provide !
 greate/ b5efits = ! lea/ co/ 9 meet+ ! 
regulatory objective set "u subp>agraph 
7,b7 &1 9 develop+ su* regulatory       
options1 %all apply ! foll[+ pr9ciples3 
7i7 ,! ag5cy %all1 to ! ext5t           
practicable-- 7,i7 attempt to engage    
private inc5tives to solve a problem2 & 
7,,ii7 n supplant private inc5tives any 
m ?an necess>y4  7ii7 ,! ag5cy %all     
consid] ! adv]se effects t m&ates &     
prohibitions may h on innovation1       
economic gr[?1 & employm5t4  7iii7 7,i7 
,! ag5cy's risk assessm5t %all be conf9$
 to ! jurisdiction ( ! ag5cy1 subject to
 specific regulatory au?ority4  7,,ii7  
,ag5cy assessm5ts ( ! risks ( adv]se    
heal? & environm5tal effects %all foll[ 
/&>diz$ p>amet]s1 assumptions1 &        
me?odologies4  7,,iii7 ,! ag5cy %all    

provide analyses ( increases 9 risks1   
:atev] _! nature1 produc$ by !          
regulatory options "u consid]ation4     
7iv7 ,! ag5cy %all avoid incongruities &
 duplication 9 regulation at ! ,f$]al1  
,/ate1 local1 & tribal levels4  7v7 ,!  
ag5cy %all comp>e & contra/ ! regulatory
 options develop$ & expla9 h[ ea* w\ld  
meet ! regulatory objective set pursuant
 to subp>agraph 7,b74  7,d7 ,! ag5cy    
%all e/imate ! co/s & b5efits ( ea*     
regulatory option develop$1 not)/&+ any 
provision ( law t prohibits ! ag5cy f   
us+ co/s 9 rulemak+1 at lea/ to ! ext5t 
t ! ag5cy is able to--  7i7 exclude     
options ^: co/s exce$ _! b5efits2  7ii7 
rank ! options by co/ f l[e/ to highe/2 
7iii7 e/imate ! monet>y co/ ( any adv]se
 effects on private prop]ty rights1     
id5tify ! categories ( p]sons :o        
exp]i5ce a net loss f a regulatory      
option1 & expla9 :y ! negative effects  
_c be less5$ or avoid$2  7iv7 e/abli%   
:e!r ! co/ ( an option exce$s           
#ej1jjj1jjj = any #ab-mon? p]iod1 except

 t ! doll> am\nt %all be adju/$ annually
 = inflation bas$ on ! ,,gdp deflator1 &
 ! ,presid5t may ord] t a l[] doll>     
am\nt be us$ = a p>ticul> p]iod2  7v7   
id5tify ! key unc]ta9ties & assumptions 
t drive ! results ( ! analysis "u clause
 7iv72 &  7vi7 provide an analysis ( h[ 
! rank+ ( ! options & ! ?re%old         
det]m9ation "u clause 7iv7 may *ange if 
key assumptions are *ang$4  7,e7 ,!     
e/imates pursuant to subp>agraph 7,d7   
%all--  7i7 foll[ ! me?odology e/abli%$ 
pursuant to p>agraph 7#b77;,a72  7ii7 to
 ! maximum ext5t practicable1 comply )  
any guidel9es issu$ by ! ,adm9i/rator ( 
! ,(fice ( ,in=mation & ,regulatory     
,affairs p]ta9+ to co/-b5efit analysis2 
&  7iii7 include1 at a m9imum--  7,i7   
ag5cy adm9i/rative co/s2  7,,ii7 ,unit$ 
,/ates private sector compliance co/s2  
7,,iii7 ,f$]al1 ,/ate1 local1 & tribal  
compliance co/s2  7,,iv7 ,f$]al1 ,/ate1 
local1 & tribal rev5ue impacts2  7,v7   
impacts f ! regulatory options develop$ 
on ,unit$ ,/ates indu/ries 9 ! role (   

suppli]s & consum]s to ea* indu/ry      
sub/antially affect$1 especially 9 t]ms 
( employm5t1 co/s1 volume & quality (   
output1 & prices2  7,,vi7 nationwide    
impacts on ov]all economic output1      
productivity1 & consum] & produc]       
prices2  7,,vii7 int]national           
competitiv5ess ( ,unit$ ,/ates          
companies2 &  7,,viii7 di/ortions 9     
inc5tives & m>kets1 includ+ an e/imate (
 ! result+ loss to ! ,unit$ ,/ates      
economy4  7,f7 ,! ag5cy %all-- 7i7      
publi% = public comm5t all analyses1    
docum5tation1 & data "u subp>agraphs    
7,a7 ?r\gh 7,d7 = a public comm5t p]iod 
( n less ?an #cj days 7subject to       
applicable limitations "u law1 includ+  
laws protect+ privacy1 trade secrets1 & 
intellectual prop]ty72 &  7ii7 correct  
defici5cies or omissions t ! ag5cy      
becomes aw>e ( be=e *oos+ a rule to     
propose4  7#b7  7,a7 7i7 ,beg9n+ n lat] 
?an ! date t is #ahj days aft] ! date ( 
enactm5t ( ! ,s\nd ,regulation ,act (   
#bjad1 ea* ag5cy %all1 by rule-- 7,i7   

e/abli% & ma9ta9 a specific co/-b5efit  
analysis me?odology appropriate to !    
functions & responsibilities ( ! ag5cy2 
&  7,,ii7 e/abli% an appropriate p]iod =
 review ( new rules to assess ! co/     
effectiv5ess ( ea* su* new rule at      
a*iev+ ! objective t ! new rule 0 int5d$
 to address1 z id5tifi$ "u p>agraph     
7#a77;,b77i74  7ii7 ,! me?odology       
e/abli%$ by an ag5cy "u clause 7i7      
%all--  7,i7 include ! /&>diz$ p>amet]s1
 assumptions1 & me?odologies = ag5cy    
assessm5ts ( risk "u p>agraph           
7#a77;,c77iii72  7,,ii7 comply1 to !    
maximum ext5t practicable1 ) te*nical   
/&>ds = me?odologies & assumptions issu$
 by ! ,adm9i/rator = ! ,(fice (         
,in=mation & ,regulatory ,affairs2      
7,,iii7 include ! scope ( b5efits & co/s
 consi/5t ) ! framework us$ & ! metrics 
id5tifi$ 9 ! e/abli%m5t ( ! regulatory  
objective "u p>agraph 7#a72  7,,iv7 n   
include consid]ation ( incid5tal b5efits
 b only ^? b5efits t 7 consid]$ 9 !     
e/abli%m5t ( ! regulatory objective "u  

p>agraph 7#a72  7,v7 limit consid]ation 
( co/s & b5efits to co/s & b5efits t    
accrue to ! population ( ! ,unit$       
,/ates2  7,,vi7 con/ra9 ! ag5cy f       
presum+ t cont9u$ augm5tation or tight5+
 ( m&ates & additional prohibitions     
cause b5efits & co/s to *ange l9e>ly b  
in/ead det]m9e at :at po9t b5efits w    
rise less ?an1 & co/s w rise m ?an1     
proportionally2  7,,vii7 include        
comp>ison ( increm5tal b5efits to       
increm5tal co/s f any action ! ag5cy    
consid]s tak+ & refra9 f actions ^:     
increm5tal b5efits d n exce$ _!         
increm5tal co/s2 &  7,,viii7 include    
analysis ( effects on private inc5tives 
& possible un9t5d$ consequ5ces4  7iii7  
,ea* ag5cy %all adh]e to ! me?odology   
e/abli%$ by ! ag5cy "u ?is subp>agraph 9
 all rulemak+s4  7,b7 ,if an ag5cy does 
n select ! lea/-co/ regulatory option z 
its propos$ rule1 ! ag5cy %all ju/ify   
its selection1 expla9+--  7i7 h[ t      
selection fur!rs o!r goals or           
requirem5ts relevant to regulat+ matt]s 

)9 ! jurisdiction ( ! ag5cy & :y ^! %\ld
 ov]ride co/ sav+s2 &  7ii7 :y ea* ( !  
o!r regulatory options n *os5 w\ld n    
suffici5tly fur!r su* o!r goals or      
requirem5ts4  7,c7 ,any p]son may       
petition an ag5cy to am5d an exi/+ rule 
made prior to ! e/abli%m5t ( me?odology 
"u ?is p>agraph1 &1 if ! ag5cy d5ies su*
 a petition1 t d5ial %all be subject to 
review "u *apt] #g ( ?is title4  7#c7   
,if an ag5cy makes a det]m9ation "u     
p>agraph 7#a77;,d7 t ! monetiz$ co/ ( a 
rule exce$s ! applicable monet>y limit  
"u clause 7iv7 ( su* p>agraph = any     
#ab-mon? p]iod-- 7,a7 ! head ( ! ag5cy  
%all--  7i7 fir/ issue an advanc$ notice
 ( propos$ rulemak+2  7ii7 provide      
notice to ! appropriate ,congressional  
committees2 &  7iii7 keep ! committees  
describ$ 9 clause 7ii7 in=m$ ( ! /atus (
 ! rulemak+2  7,b7 ! ag5cy %all-- 7i7   
notify-- 7,i7 ! ,adm9i/rator ( ! ,small 
,bus9ess ,adm9i/ration 7ref]r$ to 9 ?is 
p>agraph z ! ,adm9i/rator72  7,,ii7 !   
,director ( ! ,(fice ( ,managem5t &     

,budget 7ref]r$ to 9 ?is p>agraph z !   
,director72 &  7,,iii7 affect$ p>ties2 &
  7ii7 provide ea* p]son describ$ 9     
clause 7i7 ) in=mation on-- 7,i7 !      
pot5tial effects ( ! propos$ rule on    
affect$ p>ties2 &  7,,ii7 ! type (      
affect$ p>ties t might be affect$2  7,c7
 n lat] ?an #ae days aft] ! date (      
receipt ( ! in=mation describ$ 9        
subp>agraph 7,b77ii71 ! ,director1 9    
consultation ) ! ,adm9i/rator1 %all--   
7i7 id5tify repres5tatives ( affect$    
p>ties1 n less ?an #be p]c5t ( :i* %all1
 :5 possible1 repres5t small bus9ess    
conc]ns 7z su* t]m is def9$ 9 section   
#c7;a7 ( ! ,small ,bus9ess ,act 7#ae    
,u4,s4,c4 #fbc7;a7772 &  7ii7 provide   
ea* major /akehold] ) ! opportunity to  
obta9 advice & recomm5dations ab\t !    
pot5tial effects ( ! propos$ rule2  7,d7
 ! ag5cy %all conv5e a review panel t   
consi/s :olly (-- 7i7 full-"t ,f$]al    
(fic]s1 employees1 & contractors 9 !    
ag5cy2  7ii7 ! ,director2  7iii7 !      
,adm9i/rator2 &  7iv7 ! repres5tatives (

 affect$ p>ties id5tifi$ "u subp>agraph 
7,c77i72  7,e7 ! ag5cy %all-- 7i7       
conduct a detail$ analysis ( ! co/s &   
b5efits ( ! regulatory option t ! ag5cy 
is advanc+2 &  7ii7 9 conduct+ ! detail$
 analysis "u clause 7i7--  7,i7 consid] 
! cumulative & int]active co/s (        
regulatory requirem5ts ( ,f$]al1 ,/ate1 
local1 tribal1 &1 :]e applicable1       
int]national regulations2  7,,ii7       
id5tify ! key unc]ta9ties & assumptions 
t drive ! results ( ! analysis2 &       
7,,iii7 provide an analysis ( h[ ! rank+
 ( ! regulatory options *anges if ! key 
assumptions id5tifi$ "u subclause 7,,ii7
 are *ang$2  7,f7 ! review panel conv5$ 
"u subp>agraph 7,d7 %all review-- 7i7   
all ag5cy mat]ial prep>$ 9 connection ) 
?is subsection1 includ+ any draft       
propos$ rule2 &  7ii7 ! advice &        
recomm5dations ( ea* repres5tative ( an 
affect$ p>ty id5tifi$ "u subp>agraph    
7,c77i72  7,g7 n lat] ?an #fj days aft] 
! date on :i* ! ag5cy conv5es ! review  
panel "u subp>agraph 7,d7-- 7i7 ! review

 panel %all report on-- 7,i7 ! comm5ts (
 ea* repres5tative ( an affect$ p>ty    
id5tifi$ "u subp>agraph 7,c77i72 &      
7,,ii7 ! f9d+s ( ! review panel z to    
issues relat$ to ! provisions ( ?is     
subsection2 &  7ii7 ! report "u clause  
7i7 %all be made public z "p ( !        
rulemak+ record2  7,h7 if appropriate1 !
 ag5cy %all modify ! propos$ rule or !  
co/-b5efit analysis "u subp>agraph 7,e7 
bas$ on ! report "u subp>agraph 7,g72   
7,i7 subject to applicable limitations  
"u law1 includ+ laws protect+ privacy1  
trade secrets1 & intellectual prop]ty1 !
 ag5cy %all-- 7i7 publi% = comm5t all   
analyses1 docum5tation1 & data "u ?is   
subsection = a public comm5t p]iod ( n  
less ?an #cj days2 &  7ii7 correct      
defici5cies or omissions t ! ag5cy      
becomes aw>e ( be=e adopt+ a propos$    
rule2 &  7,j7 ! ag5cy %all ensure t     
affect$ p>ties1 includ+ ,/ate1 local1 or
 tribal gov]nm5ts1 & o!r /akehold]s1 may
 p>ticipate 9 ! rulemak+1 by means su*  
z--  7i7 ! publication ( advanc$ & g5]al

 notices ( propos$ rulemak+ 9           
publications likely to be obta9$ by     
affect$ p>ties2  7ii7 ! direct          
notification ( int]e/$ affect$ p>ties2  
7iii7 ! conduct ( op5 conf]5ces or      
public he>+s1 includ+ solicit+ & receiv+
 comm5ts ov] comput] networks2 &  7iv7  
r$uc+ ! co/ or complexity ( proc$ural   
rules to ease p>ticipation 9 ! rulemak+4
  7#d7 ,e #d ye>s1 ea* ag5cy %all-- 7,a7
 conduct a review ( all rules ( ! ag5cy 
t are 9 effect2 &  7,b7 det]m9e bas$ on 
objective data :e!r ! rules are-- 7i7   
work+ z int5d$2  7ii7 fur!r+ _!         
objectives2  7iii7 impos+ unanticipat$  
co/s2 or  7iv7 g5]at+ a net b5efit or n2
  7,c7 am5d ! rules if appropriate2 &   
7,d7 report to ,congress ! f9d+s ( !    
review conduct$ "u ?is p>agraph4  7#e7  
,not)/&+ any o!r provision ( law1       
includ+ any provision ( law t explicitly
 prohibits ! use ( co/-b5efit analysis 9
 rulemak+1 an ag5cy %all conduct        
co/-b5efit analyses & report to         
,congress ! f9d+s ) specific            

recomm5dations = h[ to l[] regulatory   
co/s by am5d+ ! /atutes prohibit+ ! use 
!re(4  7#f7 ,= purposes ( ?is           
subsection--  7,a7 ! t]m regulatory     
options means any action an ag5cy may   
take to address an objective id5tifi$ "u
 p>agraph 7#a77;,b77i71 includ+ ! option
 n to act2  7,b7 ! t]m private          
inc5tives-- 7i7 means f9ancial ga9s or  
losses t motivate actions by private    
individuals & bus9esses2 &  7ii7 does n 
include any law or regulation t         
prescribes private actions or outcomes2 
&  7,c7 ! t]m incid5tal b5efit means a  
claim$ b5efit outside ! specific        
regulatory objective or objectives t a  
rule is int5d$ to address1 z id5tifi$ "u
 p>agraph 7#a77;,b77i74  7#g7 ,all      
det]m9ations made "u ?is subsection %all
 be subject to review "u *apt] #g4  4   
#d4  ,congressional review  ,section    
#hja7;a77#b7 ( title #e1 ,unit$ ,/ates  
,code1 is am5d$ by add+ at ! end !      
foll[+3  7,c7 ,! ,comptroll] ,g5]al     
%all-- 7i7 exam9e ! co/-b5efit analysis 

= compliance ) ! requirem5ts ( section  
#eec7;f71 includ+ ! ag5cy me?odology    
e/abli%$ "u section #eec7;f77#b77;,a72  
7ii7 exam9e any risk analysis "u section
 #eec7;f77#a77;,c77iii7 p]ta9+ to !     
co/-b5efit analysis = compliance ) !    
requirem5ts "u section #eec7;f72 &      
7iii7 7,i7 exam9e ! ag5cies' quadr5nial 
regulatory reviews conduct$ "u section  
#eec7;f77#d7 = consi/5cy ) ! requirem5ts
 "u section #eec7;f72 &  7,,ii7 report  
to ,congress on ! results ( ! exam9ation
 "u subclause 7,i74  4