,,ii #aacth ,,congress #b;d ,session ,s4 #bica ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,november #ag1 #bjad,mr4 ,portman 7for himself and ,mr4 ,crapo7 introduced the following bill2 which was read twice and referred to the ,committee on ,homeland ,security and ,governmental ,affairs ,a ,,bill ,to amend the ,unfunded ,mandates ,reform ,act of #aiie to provide for regulatory impact analyses for certain rules and consideration of the least burdensome regulatory alternative1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,unfunded ,mandates ,accountability ,act of #bjad4 #b4 ,findings ,congress finds the following3 7#a7 ,the public has a right to know the benefits and costs of regulation4 ,effective regulatory programs provide important benefits to the public1 including protecting the environment1 worker safety1 and human health4 ,regulations also impose significant costs on individuals1 employers1 and ,state1 local1 and tribal governments1 diverting resources from other important priorities4 7#b7 ,better regulatory analysis and review should improve the quality of agency decisions1 increasing the benefits and reducing unwarranted costs of regulation4 7#c7 ,disclosure and scrutiny of key information underlying agency decisions should make the ,federal ,government more accountable to the public it serves4 #c4 ,regulatory impact analyses for certain rules 7a7 ,regulatory impact analyses for certain rules ,section #bjb of the ,unfunded ,mandates ,reform ,act of #aiie 7#b ,u4,s4,c4 #aecb7 is amended-- 7#a7 by striking the section heading and inserting the following3 #bjb4 ,regulatory impact analyses for certain rules 2 7#b7 by redesignating subsections 7b7 and 7c7 as subsections 7d7 and 7e71 respectively2 7#c7 by striking subsection 7a7 and inserting the following3 7a7 ,definition ,in this section1 the term cost means the cost of compliance and any reasonably foreseeable indirect costs1 including revenues lost as a result of an agency rule subject to this section4 7b7 ,in general 7#a7 ,regulatory impact analysis required ,before promulgating any proposed or final rule that may have an annual effect on the economy of #ajj1jjj1jjj or more 7adjusted for inflation71 or that may result in the expenditure by ,state1 local1 and tribal governments1 in the aggregate1 of #ajj1jjj1jjj or more 7adjusted for inflation7 in any #a year1 each agency shall prepare and publish in the ,federal ,register an initial and final regulatory impact analysis4 7#b7 ,initial regulatory impact analysis ,the initial regulatory impact analysis required under paragraph 7#a7 shall-- 7,a7 accompany the notice of proposed rulemaking2 and 7,b7 be open to public comment4 7#c7 ,final regulatory impact analysis ,the final regulatory impact analysis required under paragraph 7#a7 shall accompany the final rule4 7c7 ,content ,the initial and final regulatory impact analysis under subsection 7b7 shall include-- 7#a7 7,a7 an analysis of the anticipated benefits and costs of the rule1 which shall be quantified to the extent feasible2 7,b7 an analysis of the benefits and costs of a reasonable number of regulatory alternatives within the range of the agency's discretion under the statute authorizing the rule1 including alternatives that-- 7i7 require no action by the ,federal ,government2 and 7ii7 7,i7 use incentives and market-based means to encourage the desired behavior2 7,,ii7 provide information based upon which the public can make choices2 or 7,,iii7 employ other flexible regulatory options that permit the greatest flexibility in achieving the objectives of the statute authorizing the rule2 and 7,c7 an explanation of how the rule complies with the requirements of section #bje2 7#b7 an assessment of the extent to which-- 7,a7 the costs to ,state1 local1 and tribal governments may be paid with ,federal financial assistance 7or otherwise paid for by the ,federal ,government72 and 7,b7 ,federal resources are available to carry out the rule2 7#c7 estimates of-- 7,a7 any disproportionate budgetary effects of the rule upon any particular-- 7i7 regions of the ,united ,states2 7ii7 ,state1 local1 or tribal governments2 7iii7 types of communities1 including urban or rural communities2 or 7iv7 segments of the private sector2 and 7,b7 the effect of the rule on job creation or job loss1 which shall be quantified to the extent feasible2 and 7#d7 7,a7 a description of the extent of the agency's prior consultation under section #bjd with elected representatives of each affected ,state1 local1 or tribal government2 7,b7 a summary of the comments and concerns that were presented to the agency orally or in writing by ,state1 local1 or tribal governments2 and 7,c7 a summary of the agency's evaluation of the comments and concerns described in subparagraph 7,b74 2 7#d7 in subsection 7d71 as redesignated1 by striking subsection 7a7 and inserting subsection 7b72 and 7#e7 in subsection 7e71 as redesignated1 by striking subsection 7a7 each place that term appears and inserting subsection 7b74 7b7 ,technical and conforming amendment ,the table of sections for the ,unfunded ,mandates ,reform ,act of #aiie is amended by striking the item relating to section #bjb and inserting the following3 ,sec4 #bjb4 ,regulatory impact analyses for certain rules4 4 #d4 ,least burdensome option or explanation required ,title ,,ii of the ,unfunded ,mandates ,reform ,act of #aiie is amended by striking section #bje 7#b ,u4,s4,c4 #aece7 and inserting the following3 #bje4 ,least burdensome option or explanation required ,before promulgating any proposed or final rule for which a regulatory impact analysis is required under section #bjb1 the agency shall-- 7#a7 identify and consider a reasonable number of regulatory alternatives within the range of the agency's discretion under the statute authorizing the rule1 including alternatives required under section #bjb7;c77#a77;,b72 and 7#b7 from the alternatives described under paragraph 7#a71 select the least costly1 most cost-effective1 or least burdensome alternative that achieves the objectives of the statute4 4 #e4 ,inclusion of application to independent regulatory agencies 7a7 ,in general ,section #dba7a7 of the ,congressional ,budget and ,impoundment ,control ,act of #aigd 7#b ,u4,s4,c4 #feh7a77 is amended by striking 1 but does not include independent regulatory agencies4 7b7 ,exemption for monetary policy ,the ,unfunded ,mandates ,reform ,act of #aiie 7#b ,u4,s4,c4 #aeja et seq47 is amended by inserting after section #e the following3 #f4 ,exemption for monetary policy ,nothing in title ,,ii1 ,,iii1 or ,,iv shall apply to rules that concern monetary policy proposed or implemented by the ,board of ,governors of the ,federal ,reserve ,system or the ,federal ,open ,market ,committee4 4 #f4 ,judicial review ,title ,,iv of the ,unfunded ,mandates ,reform ,act of #aiie is amended by striking section #dja 7#b ,u4,s4,c4 #aega7 and inserting the following3 #dja4 ,judicial review 7a7 ,in general ,for a rule that is subject to section #bjb1 a person aggrieved by final agency action in adopting the rule is entitled to judicial review of the agency's compliance with section #bjb7;b71 #bjb7;c77#a71 or #bje with respect to the rule4 7b7 ,scope of review ,chapter #g of title #e1 ,united ,states ,code1 shall govern the scope of judicial review under subsection 7a74 7c7 ,jurisdiction ,each court that has jurisdiction to review a rule for compliance with section #eec of title #e1 ,united ,states ,code1 or under any other provision of law1 shall have jurisdiction to review a claim brought under subsection 7a7 of this section4 7d7 ,relief available ,in granting relief in an action under this section1 the court shall order the agency to take remedial action consistent with chapter #g of title #e1 ,united ,states ,code1 including remand and vacatur4 4 #g4 ,effective date ,this ,act shall take effect #ij days after the date of enactment of this ,act4