,,ii #aafth ,,congress #b;d ,session ,s4 #chfj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #a1 #bjbj,mrs4 ,loeffler introduced the following bill2 which was read twice and referred to the ,committee on ,homeland ,security and ,governmental ,affairs ,a ,,bill ,to provide for a method by which the economic costs of significant regulatory actions may be offset by the repeal of other regulatory actions1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,lessening ,regulatory ,costs and ,establishing a ,federal ,regulatory ,budget ,act of #bjbj4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4,sec4 #b4 ,sense of ,congress2 purpose4,sec4 #c4 ,definitions4,sec4 #d4 ,establishing regulatory reform capacity4,sec4 #e4 ,accountability4,sec4 #f4 ,regulatory planning and budget4,sec4 #g4 ,waiver4 #b4 ,sense of ,congress2 purpose 7a7 ,sense of ,congress ,it is the sense of ,congress that-- 7#a7 the ,federal ,government should be prudent and financially responsible in the expenditure of funds1 from both public and private sources2 and 7#b7 in addition to the management of the direct expenditure of taxpayer dollars through the budgeting process1 it is essential to manage the costs associated with the governmental imposition of private expenditures required to comply with ,federal regulations4 7b7 ,purpose ,the purpose of this ,act is-- 7#a7 to remove unnecessary or outdated regulations when a new significant regulation is issued2 and 7#b7 to prudently manage and control the cost of planned regulations through an annual budgeting process4 #c4 ,definitions ,in this ,act3 7#a7 ,agency ,the term agency has the meaning given the term in section #eea of title #e1 ,united ,states ,code4 7#b7 ,agency ,,rro ,the term agency ,,rro means the employee or officer of an agency designated as the ,regulatory ,reform ,officer under section #d7;a77#a74 7#c7 ,costs ,the term costs means opportunity cost to society4 7#d7 ,cost savings ,the term cost savings means the cost imposed by a regulatory action that is eliminated by the repeal1 replacement1 or modification of such regulatory action4 7#e7 ,deregulatory action ,the term deregulatory action means the repeal1 replacement1 or modification of an existing regulatory action4 7#f7 ,director ,the term ,director means the ,director of the ,office of ,management and ,budget4 7#g7 ,incremental regulatory cost ,the term incremental regulatory cost means the difference between the estimated cost of issuing a significant regulatory action and the estimated cost saved by issuing any deregulatory action4 7#h7 ,regulation2 rule ,the term regulation or rule has the meaning given the term rule in section #eea of title #e1 ,united ,states ,code4 7#i7 ,regulatory action ,the term regulatory action means-- 7,a7 any regulation2 and 7,b7 any other regulatory guidance1 statement of policy1 information collection request1 form1 or reporting1 recordkeeping1 or disclosure requirement that imposes a burden on the public or governs agency operations4 7#aj7 ,significant regulatory action ,the term significant regulatory action means any regulatory action1 other than monetary policy proposed or implemented by the ,board of ,governors of the ,federal ,reserve ,system or the ,federal ,open ,market ,committee1 that is likely to-- 7,a7 have an annual effect on the economy of #ajj1jjj1jjj or more or adversely affect in a material way the economy1 a sector of the economy1 productivity1 competition1 jobs1 the environment1 public health or safety1 or ,state1 local1 or ,tribal governments or communities2 7,b7 create a serious inconsistency or otherwise interfere with an action taken or planned by another agency2 7,c7 materially alter the budgetary impact of entitlements1 grants1 user fees1 or loan programs or the rights and obligations of recipients thereof2 or 7,d7 raise a novel legal or policy issue4 7#aa7 ,state ,the term ,state means each of the several ,states1 the ,district of ,columbia1 and each territory or possession of the ,united ,states4 7#ab7 ,task ,force ,the term ,task ,force means a regulatory reform task force established under section #d7;b77#a74 #d4 ,establishing regulatory reform capacity 7a7 ,regulatory reform officers 7#a7 ,in general ,except as provided in section #g1 not later than #fj days after the date of enactment of this ,act1 the head of each agency shall designate an employee or officer of the agency as the ,regulatory ,reform ,officer4 7#b7 ,duties ,in accordance with applicable law and in consultation with relevant senior agency officials1 each agency ,,rro shall oversee-- 7,a7 the implementation of regulatory reform initiatives and policies for the agency to ensure that the agency effectively carries out regulatory reforms2 and 7,b7 the termination of programs and activities that derive from or implement statutes1 ,executive orders1 guidance documents1 policy memoranda1 rule interpretations1 and similar documents1 or relevant portions thereof1 that have been repealed or rescinded4 7b7 ,regulatory ,reform ,task ,forces 7#a7 ,establishment of agency task force2 membership ,except as provided in section #g1 not later than #fj days after the date of enactment of this ,act1 the head of each agency shall appoint and may remove members to the regulatory reform task force of the agency1 which shall be composed of the following members3 7,a7 ,the agency ,,rro4 7,b7 ,a senior agency official from each relevant component or office of the agency with significant authority for issuing or repealing regulatory actions4 7,c7 ,additional senior agency officials involved in the development of rulemaking or other regulatory action at the agency1 as determined by the head of the agency4 7#b7 ,chair ,unless otherwise designated by the head of the agency1 the agency ,,rro shall chair the ,task ,force of the agency4 7#c7 ,joint task forces 7,a7 ,in general ,for the consideration of a joint rulemaking1 the ,director may form a joint regulatory reform task force composed of not fewer than #a member from the ,task ,force of each relevant agency4 7,b7 ,consultation ,any joint regulatory reform task force formed under this paragraph shall consult with each relevant ,task ,force4 7#d7 ,duties ,each ,task ,force shall-- 7,a7 conduct ongoing evaluations of regulations and other regulatory actions and make recommendations that are consistent with and that could be implemented in accordance with applicable law to the head of the agency regarding repeal1 replacement1 or modification of regulations and regulatory actions2 and 7,b7 to the extent practicable-- 7i7 not later than #e years after the date of enactment of this ,act1 complete a review of each regulation issued by the agency2 7ii7 for each regulation or regulatory action reviewed and identified for repeal1 replacement1 or modification1 estimate the cost savings of such repeal1 replacement1 or modification1 as applicable2 and 7iii7 identify regulations that are appropriate for repeal1 replacement1 or modification1 and prioritize the evaluation of regulations that-- 7,i7 eliminate or have eliminated jobs or inhibit or have inhibited job creation2 7,,ii7 are outdated1 unnecessary1 or ineffective2 7,,iii7 impose costs that exceed benefits2 7,,iv7 create a serious inconsistency or otherwise interfere with regulatory reform initiatives and policies2 7,v7 were issued or are maintained in a manner that is inconsistent with the requirements of section #eae of the ,treasury and ,general ,government ,appropriations ,act1 #bjja 7,public ,law #ajf-eed2 #dd ,u4,s4,c4 #ceaf note71 or the guidance issued pursuant to that section1 including any rule that relies in whole or in part on data1 information1 or methods that are not publicly available or that are insufficiently transparent to meet the standard for reproducibility2 or 7,,vi7 were made pursuant to or to implement statutes1 ,executive orders1 or other ,presidential directives that have been subsequently rescinded or substantially modified4 7c7 ,consultation with stakeholders ,in performing the tasks under this section1 each agency ,,rro and ,task ,force-- 7#a7 shall seek input and other assistance from the public and from entities significantly affected by regulations1 including ,state1 local1 and ,tribal governments1 small businesses1 consumers1 non-governmental organizations1 and trade associations2 and 7#b7 may-- 7,a7 incorporate specific suggestions from stakeholders in identifying the list of deregulatory actions to recommend to the head of the agency2 and 7,b7 accept or solicit input from the public in any manner1 if-- 7i7 the process is transparent to the public and ,congress2 7ii7 a list of each meeting1 a list of each stakeholder that submitted a comment1 and a copy of each written comment are made publicly available online2 and 7iii7 the ,task ,force issues a public notice of any public meeting to solicit input not less than #g days before the public meeting and makes detailed minutes of the meeting available online not less than #g days after the date of the meeting4 7d7 ,transparent regulatory reform 7#a7 ,website ,to the extent practicable1 the head of each agency shall publish information about the ,task ,force of the agency and other regulatory reform initiatives on the website of the agency-- 7,a7 which shall include-- 7i7 a list of the members of the ,task ,force of the agency2 7ii7 a copy of each report issued under this subsection2 and 7iii7 a link to or copy of each notice of a meeting or solicitation of public comments issued by the ,task ,force of the agency2 and 7,b7 which may include-- 7i7 an online forum to receive comments from the public2 and 7ii7 any other information about the ,task ,force or other regulatory reform initiatives at the agency4 7#b7 ,report ,not less than twice a year1 each agency ,,rro shall submit to the head of the agency a report on the activities performed under this section and any recommendations resulting from such activities 7which shall be posted by the head of the agency on a publicly accessible website71 and shall include the following3 7,a7 ,a description of any improvement made toward implementation of regulatory reform initiatives and policies4 7,b7 ,for each regulation or other regulatory action reviewed by the ,task ,force1 a detailed description of the review4 7,c7 ,an inventory of each regulation or regulatory action the ,task ,force recommends the agency consider for repeal1 replacement1 or modification4 7,d7 ,a list of all activities conducted under subsection 7c71 a summary of all comments received1 and a hyperlink to copies of each public comment received4 #e4 ,accountability 7a7 ,incorporation in performance plans 7#a7 ,in general ,each agency listed in section #ija7;b77#a7 of title #ca1 ,united ,states ,code1 shall incorporate in the annual performance plan of the agency required under section #aaae7;b7 of title #ca1 ,united ,states ,code1 performance indicators that measure progress implementing this ,act4 7#b7 ,,omb guidance ,the ,director shall issue1 and update as necessary1 guidance regarding the implementation of this subsection4 7b7 ,performance assessment ,the head of each agency shall consider the progress implementing this ,act in assessing the performance of the ,task ,force of the agency and those individuals responsible for developing and issuing agency rules4 #f4 ,regulatory planning and budget 7a7 ,unified agenda and annual regulatory plan 7#a7 ,unified regulatory agenda ,during the months of ,april and ,october of each year1 the ,director shall publish a unified regulatory agenda1 which shall include-- 7,a7 regulatory and deregulatory actions under development or review at agencies2 7,b7 a ,federal regulatory plan of all significant regulatory actions and associated deregulatory actions that agencies reasonably expect to issue in proposed or final form in the fiscal year in which the unified regulatory agenda is published and the following fiscal year2 and 7,c7 all information required to be included in the regulatory flexibility agenda under section #fjb of title #e1 ,united ,states ,code4 7#b7 ,agency submissions ,in accordance with guidance issued by the ,director and not less than #fj days before each date of publication for the unified regulatory agenda under paragraph 7#a71 the head of each agency shall submit to the ,director an agenda of all regulatory actions and deregulatory actions under development at the agency1 including the following3 7,a7 ,for each regulatory action and deregulatory action3 7i7 ,a regulation identifier number4 7ii7 ,a brief summary of the action4 7iii7 ,the legal authority for the action4 7iv7 ,any legal deadline for the action4 7v7 ,the name and contact information for a knowledgeable agency official4 7vi7 ,any other information as required by the ,director4 7,b7 ,an annual regulatory plan1 which shall include a list of each significant regulatory action the agency reasonably expects to issue in proposed or final form in the fiscal year in which the unified regulatory agenda is published and the following fiscal year1 including for each significant regulatory action3 7i7 ,a summary1 including the following3 7,i7 ,a statement of the regulatory objectives4 7,,ii7 ,the legal authority for the action4 7,,iii7 ,a statement of the need for the action4 7,,iv7 ,the agency's schedule for the action4 7ii7 ,the estimated cost4 7iii7 ,the estimated benefits4 7iv7 ,any deregulatory action identified to offset the estimated cost of the significant regulatory action and an explanation of how the agency will continue to achieve regulatory objectives if the deregulatory action is taken4 7v7 ,a best approximation of the total cost or savings and any cost or savings associated with a deregulatory action4 7vi7 ,an estimate of the economic effects1 including any estimate of the net effect that such action will have on the number of jobs in the ,united ,states1 that was considered in drafting the action1 or1 if such estimate is not available1 a statement affirming that no information on the economic effects1 including the effect on the number of jobs1 of the action has been considered4 7,c7 ,information required under section #fjb of title #e1 ,united ,states ,code4 7,d7 ,information required under any other law to be reported by agencies about significant regulatory actions1 as determined by the ,director4 7b7 ,federal regulatory budget 7#a7 ,establishment 7,a7 ,in general ,in the ,april unified regulatory agenda described in subsection 7a71 the ,director shall establish the annual ,federal ,regulatory ,budget1 which specifies the net amount of incremental regulatory costs allowed by the ,federal ,government and at each agency for the next fiscal year4 7,b7 ,regulatory cost allowance ,the ,director may set the incremental regulatory cost allowance described in paragraph 7#a7 to allow an increase1 prohibit an increase1 or require a decrease of incremental regulatory costs4 7#b7 ,default net incremental regulatory cost ,if the ,director does not set a net amount of incremental regulatory costs allowed for an agency1 the net incremental regulatory cost allowed shall be zero4 7#c7 ,balance rollover of incremental regulatory cost allowance 7,a7 ,in general ,if an agency does not exhaust all of the incremental regulatory cost allowance for a fiscal year1 the balance may be added to the incremental regulatory cost allowance for the subsequent fiscal year1 without increasing the incremental regulatory costs allowed for the ,federal ,government for the subsequent fiscal year4 7,b7 ,identification ,the ,director shall identify the total carryover incremental regulatory cost allowance available to an agency in the ,federal ,regulatory ,budget4 7c7 ,significant regulatory action requirements ,except as otherwise required by law1 a significant regulatory action shall have no effect unless-- 7#a7 the-- 7,a7 head of the agency identifies not less than #b deregulatory actions to offset the costs of the significant regulatory action1 and to the extent feasible1 issues those deregulatory actions before or on the same schedule as the significant regulatory action2 7,b7 incremental costs of the significant regulatory action as offset by any deregulatory action issued before or on the same schedule as the significant regulatory action do not cause the agency to exceed or contribute to the agency exceeding the incremental regulatory cost allowance of the agency for that fiscal year2 and 7,c7 significant regulatory action was included on the most recent version or update of the published unified regulatory agenda2 or 7#b7 the issuance of the significant regulatory action was approved in advance in writing by the ,director and the written approval is publicly available online before the issuance of the significant regulatory action4 7d7 ,guidance by ,,omb 7#a7 ,in general ,not later than #ij days after the date of the enactment of this ,act1 the ,director shall establish and issue guidance on how agencies should comply with the requirements of this section1 which shall include-- 7,a7 a process for standardizing the measurement and estimation of regulatory costs1 including cost savings associated with deregulatory actions2 7,b7 standards for determining what qualifies as a deregulatory action2 7,c7 standards for determining the costs of existing regulatory actions that are considered for repeal1 replacement1 or modification2 7,d7 a process for accounting for costs in different fiscal years2 7,e7 methods to oversee the issuance of significant regulatory actions offset by cost savings achieved at different times or by different agencies2 7,f7 emergencies and other circumstances that may justify individual waivers of the requirements of this section2 and 7,g7 standards by which the ,director will determine whether a regulatory action or a collection of regulatory actions qualifies as a significant regulatory action4 7#b7 ,updates to guidance ,the ,director shall update the guidance issued pursuant to paragraph 7#a7 as necessary4 #g4 ,waiver 7a7 ,waiver authority ,upon the written request of the head of an agency1 the ,director may issue a written waiver of the requirements of section #d if the ,director determines that the agency generally issues very few or no rules4 7b7 ,revocation of waiver ,the ,director may revoke at any time a waiver issued under this section4 7c7 ,public availability of waivers ,the ,director shall maintain a publicly available list of each agency that is operating under a waiver issued under this section4 7d7 ,requirement for waiver ,a waiver under this section shall not be effective unless the written waiver and the written request of the agency are publicly available on the website of the ,office of ,management and ,budget4