,,ii #aaf? ,,congress #b;d ,session ,s4 #chfj ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,june #a1 #bjbj,mrs4 ,loeffl] introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,homel& ,security & ,gov]nm5tal ,affairs ,a ,,bill ,to provide = a me?od by :i* ! economic co/s ( significant regulatory actions may be (fset by ! repeal ( o!r regulatory actions1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,less5+ ,regulatory ,co/s & ,e/abli%+ a ,f$]al ,regulatory ,budget ,act ( #bjbj4 7b7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4,sec4 #b4 ,s5se ( ,congress2 purpose4,sec4 #c4 ,def9itions4,sec4 #d4 ,e/abli%+ regulatory re=m capacity4,sec4 #e4 ,acc\ntability4,sec4 #f4 ,regulatory plann+ & budget4,sec4 #g4 ,waiv]4 #b4 ,s5se ( ,congress2 purpose 7a7 ,s5se ( ,congress ,x is ! s5se ( ,congress t-- 7#a7 ! ,f$]al ,gov]nm5t %\ld be prud5t & f9ancially responsible 9 ! exp5diture ( funds1 f bo? public & private s\rces2 & 7#b7 9 addition to ! managem5t ( ! direct exp5diture ( taxpay] doll>s ?r\gh ! budget+ process1 x is ess5tial to manage ! co/s associat$ ) ! gov]nm5tal imposition ( private exp5ditures requir$ to comply ) ,f$]al regulations4 7b7 ,purpose ,! purpose ( ?is ,act is-- 7#a7 to remove unnecess>y or outdat$ regulations :5 a new significant regulation is issu$2 & 7#b7 to prud5tly manage & control ! co/ ( plann$ regulations ?r\gh an annual budget+ process4 #c4 ,def9itions ,9 ?is ,act3 7#a7 ,ag5cy ,! t]m ag5cy has ! mean+ giv5 ! t]m 9 section #eea ( title #e1 ,unit$ ,/ates ,code4 7#b7 ,ag5cy ,,rro ,! t]m ag5cy ,,rro means ! employee or (fic] ( an ag5cy designat$ z ! ,regulatory ,re=m ,(fic] "u section #d7;a77#a74 7#c7 ,co/s ,! t]m co/s means opportunity co/ to society4 7#d7 ,co/ sav+s ,! t]m co/ sav+s means ! co/ impos$ by a regulatory action t is elim9at$ by ! repeal1 replacem5t1 or modification ( su* regulatory action4 7#e7 ,d]egulatory action ,! t]m d]egulatory action means ! repeal1 replacem5t1 or modification ( an exi/+ regulatory action4 7#f7 ,director ,! t]m ,director means ! ,director ( ! ,(fice ( ,managem5t & ,budget4 7#g7 ,increm5tal regulatory co/ ,! t]m increm5tal regulatory co/ means ! diff]5ce betwe5 ! e/imat$ co/ ( issu+ a significant regulatory action & ! e/imat$ co/ sav$ by issu+ any d]egulatory action4 7#h7 ,regulation2 rule ,! t]m regulation or rule has ! mean+ giv5 ! t]m rule 9 section #eea ( title #e1 ,unit$ ,/ates ,code4 7#i7 ,regulatory action ,! t]m regulatory action means-- 7,a7 any regulation2 & 7,b7 any o!r regulatory guidance1 /atem5t ( policy1 in=mation collection reque/1 =m1 or report+1 recordkeep+1 or disclosure requirem5t t imposes a burd5 on ! public or gov]ns ag5cy op]ations4 7#aj7 ,significant regulatory action ,! t]m significant regulatory action means any regulatory action1 o!r ?an monet>y policy propos$ or implem5t$ by ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em or ! ,f$]al ,op5 ,m>ket ,committee1 t is likely to-- 7,a7 h an annual effect on ! economy ( #ajj1jjj1jjj or m or adv]sely affect 9 a mat]ial way ! economy1 a sector ( ! economy1 productivity1 competition1 jobs1 ! environm5t1 public heal? or safety1 or ,/ate1 local1 or ,tribal gov]nm5ts or communities2 7,b7 create a s]i\s inconsi/5cy or o!rwise int]f]e ) an action tak5 or plann$ by ano!r ag5cy2 7,c7 mat]ially alt] ! budget>y impact ( entitlem5ts1 grants1 us] fees1 or loan programs or ! rights & obligations ( recipi5ts !re(2 or 7,d7 raise a novel legal or policy issue4 7#aa7 ,/ate ,! t]m ,/ate means ea* ( ! sev]al ,/ates1 ! ,di/rict ( ,columbia1 & ea* t]ritory or possession ( ! ,unit$ ,/ates4 7#ab7 ,task ,=ce ,! t]m ,task ,=ce means a regulatory re=m task =ce e/abli%$ "u section #d7;b77#a74 #d4 ,e/abli%+ regulatory re=m capacity 7a7 ,regulatory re=m (fic]s 7#a7 ,9 g5]al ,except z provid$ 9 section #g1 n lat] ?an #fj days aft] ! date ( enactm5t ( ?is ,act1 ! head ( ea* ag5cy %all designate an employee or (fic] ( ! ag5cy z ! ,regulatory ,re=m ,(fic]4 7#b7 ,duties ,9 accordance ) applicable law & 9 consultation ) relevant s5ior ag5cy (ficials1 ea* ag5cy ,,rro %all ov]see-- 7,a7 ! implem5tation ( regulatory re=m initiatives & policies = ! ag5cy to ensure t ! ag5cy effectively c>ries out regulatory re=ms2 & 7,b7 ! t]m9ation ( programs & activities t d]ive f or implem5t /atutes1 ,executive ord]s1 guidance docum5ts1 policy memor&a1 rule int]pretations1 & simil> docum5ts1 or relevant portions !re(1 t h be5 repeal$ or resc9d$4 7b7 ,regulatory ,re=m ,task ,=ces 7#a7 ,e/abli%m5t ( ag5cy task =ce2 memb]%ip ,except z provid$ 9 section #g1 n lat] ?an #fj days aft] ! date ( enactm5t ( ?is ,act1 ! head ( ea* ag5cy %all appo9t & may remove memb]s to ! regulatory re=m task =ce ( ! ag5cy1 :i* %all be compos$ ( ! foll[+ memb]s3 7,a7 ,! ag5cy ,,rro4 7,b7 ,a s5ior ag5cy (ficial f ea* relevant compon5t or (fice ( ! ag5cy ) significant au?ority = issu+ or repeal+ regulatory actions4 7,c7 ,additional s5ior ag5cy (ficials involv$ 9 ! developm5t ( rulemak+ or o!r regulatory action at ! ag5cy1 z det]m9$ by ! head ( ! ag5cy4 7#b7 ,*air ,unless o!rwise designat$ by ! head ( ! ag5cy1 ! ag5cy ,,rro %all *air ! ,task ,=ce ( ! ag5cy4 7#c7 ,jo9t task =ces 7,a7 ,9 g5]al ,= ! consid]ation ( a jo9t rulemak+1 ! ,director may =m a jo9t regulatory re=m task =ce compos$ ( n few] ?an #a memb] f ! ,task ,=ce ( ea* relevant ag5cy4 7,b7 ,consultation ,any jo9t regulatory re=m task =ce =m$ "u ?is p>agraph %all consult ) ea* relevant ,task ,=ce4 7#d7 ,duties ,ea* ,task ,=ce %all-- 7,a7 conduct ongo+ evaluations ( regulations & o!r regulatory actions & make recomm5dations t are consi/5t ) & t c\ld be implem5t$ 9 accordance ) applicable law to ! head ( ! ag5cy reg>d+ repeal1 replacem5t1 or modification ( regulations & regulatory actions2 & 7,b7 to ! ext5t practicable-- 7i7 n lat] ?an #e ye>s aft] ! date ( enactm5t ( ?is ,act1 complete a review ( ea* regulation issu$ by ! ag5cy2 7ii7 = ea* regulation or regulatory action review$ & id5tifi$ = repeal1 replacem5t1 or modification1 e/imate ! co/ sav+s ( su* repeal1 replacem5t1 or modification1 z applicable2 & 7iii7 id5tify regulations t are appropriate = repeal1 replacem5t1 or modification1 & prioritize ! evaluation ( regulations t-- 7,i7 elim9ate or h elim9at$ jobs or inhibit or h inhibit$ job creation2 7,,ii7 are outdat$1 unnecess>y1 or ineffective2 7,,iii7 impose co/s t exce$ b5efits2 7,,iv7 create a s]i\s inconsi/5cy or o!rwise int]f]e ) regulatory re=m initiatives & policies2 7,v7 7 issu$ or are ma9ta9$ 9 a mann] t is inconsi/5t ) ! requirem5ts ( section #eae ( ! ,treasury & ,g5]al ,gov]nm5t ,appropriations ,act1 #bjja 7,public ,law #ajf-eed2 #dd ,u4,s4,c4 #ceaf note71 or ! guidance issu$ pursuant to t section1 includ+ any rule t relies 9 :ole or 9 "p on data1 in=mation1 or me?ods t are n publicly available or t are insuffici5tly transp>5t to meet ! /&>d = reproducibility2 or 7,,vi7 7 made pursuant to or to implem5t /atutes1 ,executive ord]s1 or o!r ,presid5tial directives t h be5 subsequ5tly resc9d$ or sub/antially modifi$4 7c7 ,consultation ) /akehold]s ,9 p]=m+ ! tasks "u ?is section1 ea* ag5cy ,,rro & ,task ,=ce-- 7#a7 %all seek input & o!r assi/ance f ! public & f entities significantly affect$ by regulations1 includ+ ,/ate1 local1 & ,tribal gov]nm5ts1 small bus9esses1 consum]s1 non-gov]nm5tal organizations1 & trade associations2 & 7#b7 may-- 7,a7 incorporate specific sugge/ions f /akehold]s 9 id5tify+ ! li/ ( d]egulatory actions to recomm5d to ! head ( ! ag5cy2 & 7,b7 accept or solicit input f ! public 9 any mann]1 if-- 7i7 ! process is transp>5t to ! public & ,congress2 7ii7 a li/ ( ea* meet+1 a li/ ( ea* /akehold] t submitt$ a comm5t1 & a copy ( ea* writt5 comm5t are made publicly available onl9e2 & 7iii7 ! ,task ,=ce issues a public notice ( any public meet+ to solicit input n less ?an #g days be=e ! public meet+ & makes detail$ m9utes ( ! meet+ available onl9e n less ?an #g days aft] ! date ( ! meet+4 7d7 ,transp>5t regulatory re=m 7#a7 ,website ,to ! ext5t practicable1 ! head ( ea* ag5cy %all publi% in=mation ab\t ! ,task ,=ce ( ! ag5cy & o!r regulatory re=m initiatives on ! website ( ! ag5cy-- 7,a7 :i* %all include-- 7i7 a li/ ( ! memb]s ( ! ,task ,=ce ( ! ag5cy2 7ii7 a copy ( ea* report issu$ "u ?is subsection2 & 7iii7 a l9k to or copy ( ea* notice ( a meet+ or solicitation ( public comm5ts issu$ by ! ,task ,=ce ( ! ag5cy2 & 7,b7 :i* may include-- 7i7 an onl9e =um to receive comm5ts f ! public2 & 7ii7 any o!r in=mation ab\t ! ,task ,=ce or o!r regulatory re=m initiatives at ! ag5cy4 7#b7 ,report ,n less ?an twice a ye>1 ea* ag5cy ,,rro %all submit to ! head ( ! ag5cy a report on ! activities p]=m$ "u ?is section & any recomm5dations result+ f su* activities 7:i* %all be po/$ by ! head ( ! ag5cy on a publicly accessible website71 & %all include ! foll[+3 7,a7 ,a description ( any improvem5t made t[>d implem5tation ( regulatory re=m initiatives & policies4 7,b7 ,= ea* regulation or o!r regulatory action review$ by ! ,task ,=ce1 a detail$ description ( ! review4 7,c7 ,an inv5tory ( ea* regulation or regulatory action ! ,task ,=ce recomm5ds ! ag5cy consid] = repeal1 replacem5t1 or modification4 7,d7 ,a li/ ( all activities conduct$ "u subsection 7c71 a summ>y ( all comm5ts receiv$1 & a hyp]l9k to copies ( ea* public comm5t receiv$4 #e4 ,acc\ntability 7a7 ,incorporation 9 p]=mance plans 7#a7 ,9 g5]al ,ea* ag5cy li/$ 9 section #ija7;b77#a7 ( title #ca1 ,unit$ ,/ates ,code1 %all incorporate 9 ! annual p]=mance plan ( ! ag5cy requir$ "u section #aaae7;b7 ( title #ca1 ,unit$ ,/ates ,code1 p]=mance indicators t measure progress implem5t+ ?is ,act4 7#b7 ,,omb guidance ,! ,director %all issue1 & update z necess>y1 guidance reg>d+ ! implem5tation ( ?is subsection4 7b7 ,p]=mance assessm5t ,! head ( ea* ag5cy %all consid] ! progress implem5t+ ?is ,act 9 assess+ ! p]=mance ( ! ,task ,=ce ( ! ag5cy & ^? individuals responsible = develop+ & issu+ ag5cy rules4 #f4 ,regulatory plann+ & budget 7a7 ,unifi$ ag5da & annual regulatory plan 7#a7 ,unifi$ regulatory ag5da ,dur+ ! mon?s ( ,april & ,octob] ( ea* ye>1 ! ,director %all publi% a unifi$ regulatory ag5da1 :i* %all include-- 7,a7 regulatory & d]egulatory actions "u developm5t or review at ag5cies2 7,b7 a ,f$]al regulatory plan ( all significant regulatory actions & associat$ d]egulatory actions t ag5cies reasonably expect to issue 9 propos$ or f9al =m 9 ! fiscal ye> 9 :i* ! unifi$ regulatory ag5da is publi%$ & ! foll[+ fiscal ye>2 & 7,c7 all in=mation requir$ to be includ$ 9 ! regulatory flexibility ag5da "u section #fjb ( title #e1 ,unit$ ,/ates ,code4 7#b7 ,ag5cy submissions ,9 accordance ) guidance issu$ by ! ,director & n less ?an #fj days be=e ea* date ( publication = ! unifi$ regulatory ag5da "u p>agraph 7#a71 ! head ( ea* ag5cy %all submit to ! ,director an ag5da ( all regulatory actions & d]egulatory actions "u developm5t at ! ag5cy1 includ+ ! foll[+3 7,a7 ,= ea* regulatory action & d]egulatory action3 7i7 ,a regulation id5tifi] numb]4 7ii7 ,a brief summ>y ( ! action4 7iii7 ,! legal au?ority = ! action4 7iv7 ,any legal deadl9e = ! action4 7v7 ,! "n & contact in=mation = a kn[l$geable ag5cy (ficial4 7vi7 ,any o!r in=mation z requir$ by ! ,director4 7,b7 ,an annual regulatory plan1 :i* %all include a li/ ( ea* significant regulatory action ! ag5cy reasonably expects to issue 9 propos$ or f9al =m 9 ! fiscal ye> 9 :i* ! unifi$ regulatory ag5da is publi%$ & ! foll[+ fiscal ye>1 includ+ = ea* significant regulatory action3 7i7 ,a summ>y1 includ+ ! foll[+3 7,i7 ,a /atem5t ( ! regulatory objectives4 7,,ii7 ,! legal au?ority = ! action4 7,,iii7 ,a /atem5t ( ! ne$ = ! action4 7,,iv7 ,! ag5cy's s*$ule = ! action4 7ii7 ,! e/imat$ co/4 7iii7 ,! e/imat$ b5efits4 7iv7 ,any d]egulatory action id5tifi$ to (fset ! e/imat$ co/ ( ! significant regulatory action & an explanation ( h[ ! ag5cy w cont9ue to a*ieve regulatory objectives if ! d]egulatory action is tak54 7v7 ,a be/ approximation ( ! total co/ or sav+s & any co/ or sav+s associat$ ) a d]egulatory action4 7vi7 ,an e/imate ( ! economic effects1 includ+ any e/imate ( ! net effect t su* action w h on ! numb] ( jobs 9 ! ,unit$ ,/ates1 t 0 consid]$ 9 draft+ ! action1 or1 if su* e/imate is n available1 a /atem5t affirm+ t no in=mation on ! economic effects1 includ+ ! effect on ! numb] ( jobs1 ( ! action has be5 consid]$4 7,c7 ,in=mation requir$ "u section #fjb ( title #e1 ,unit$ ,/ates ,code4 7,d7 ,in=mation requir$ "u any o!r law to be report$ by ag5cies ab\t significant regulatory actions1 z det]m9$ by ! ,director4 7b7 ,f$]al regulatory budget 7#a7 ,e/abli%m5t 7,a7 ,9 g5]al ,9 ! ,april unifi$ regulatory ag5da describ$ 9 subsection 7a71 ! ,director %all e/abli% ! annual ,f$]al ,regulatory ,budget1 :i* specifies ! net am\nt ( increm5tal regulatory co/s all[$ by ! ,f$]al ,gov]nm5t & at ea* ag5cy = ! next fiscal ye>4 7,b7 ,regulatory co/ all[ance ,! ,director may set ! increm5tal regulatory co/ all[ance describ$ 9 p>agraph 7#a7 to all[ an increase1 prohibit an increase1 or require a decrease ( increm5tal regulatory co/s4 7#b7 ,default net increm5tal regulatory co/ ,if ! ,director does n set a net am\nt ( increm5tal regulatory co/s all[$ = an ag5cy1 ! net increm5tal regulatory co/ all[$ %all be z]o4 7#c7 ,balance rollov] ( increm5tal regulatory co/ all[ance 7,a7 ,9 g5]al ,if an ag5cy does n exhau/ all ( ! increm5tal regulatory co/ all[ance = a fiscal ye>1 ! balance may be add$ to ! increm5tal regulatory co/ all[ance = ! subsequ5t fiscal ye>1 )\t increas+ ! increm5tal regulatory co/s all[$ = ! ,f$]al ,gov]nm5t = ! subsequ5t fiscal ye>4 7,b7 ,id5tification ,! ,director %all id5tify ! total c>ryov] increm5tal regulatory co/ all[ance available to an ag5cy 9 ! ,f$]al ,regulatory ,budget4 7c7 ,significant regulatory action requirem5ts ,except z o!rwise requir$ by law1 a significant regulatory action %all h no effect unless-- 7#a7 !-- 7,a7 head ( ! ag5cy id5tifies n less ?an #b d]egulatory actions to (fset ! co/s ( ! significant regulatory action1 & to ! ext5t feasible1 issues ^? d]egulatory actions be=e or on ! same s*$ule z ! significant regulatory action2 7,b7 increm5tal co/s ( ! significant regulatory action z (fset by any d]egulatory action issu$ be=e or on ! same s*$ule z ! significant regulatory action d n cause ! ag5cy to exce$ or contribute to ! ag5cy exce$+ ! increm5tal regulatory co/ all[ance ( ! ag5cy = t fiscal ye>2 & 7,c7 significant regulatory action 0 includ$ on ! mo/ rec5t v]sion or update ( ! publi%$ unifi$ regulatory ag5da2 or 7#b7 ! issuance ( ! significant regulatory action 0 approv$ 9 advance 9 writ+ by ! ,director & ! writt5 approval is publicly available onl9e be=e ! issuance ( ! significant regulatory action4 7d7 ,guidance by ,,omb 7#a7 ,9 g5]al ,n lat] ?an #ij days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,director %all e/abli% & issue guidance on h[ ag5cies %\ld comply ) ! requirem5ts ( ?is section1 :i* %all include-- 7,a7 a process = /&>diz+ ! measurem5t & e/imation ( regulatory co/s1 includ+ co/ sav+s associat$ ) d]egulatory actions2 7,b7 /&>ds = det]m9+ :at qualifies z a d]egulatory action2 7,c7 /&>ds = det]m9+ ! co/s ( exi/+ regulatory actions t are consid]$ = repeal1 replacem5t1 or modification2 7,d7 a process = acc\nt+ = co/s 9 diff]5t fiscal ye>s2 7,e7 me?ods to ov]see ! issuance ( significant regulatory actions (fset by co/ sav+s a*iev$ at diff]5t times or by diff]5t ag5cies2 7,f7 em]g5cies & o!r circum/ances t may ju/ify individual waiv]s ( ! requirem5ts ( ?is section2 & 7,g7 /&>ds by :i* ! ,director w det]m9e :e!r a regulatory action or a collection ( regulatory actions qualifies z a significant regulatory action4 7#b7 ,updates to guidance ,! ,director %all update ! guidance issu$ pursuant to p>agraph 7#a7 z necess>y4 #g4 ,waiv] 7a7 ,waiv] au?ority ,^u ! writt5 reque/ ( ! head ( an ag5cy1 ! ,director may issue a writt5 waiv] ( ! requirem5ts ( section #d if ! ,director det]m9es t ! ag5cy g5]ally issues v few or no rules4 7b7 ,revocation ( waiv] ,! ,director may revoke at any "t a waiv] issu$ "u ?is section4 7c7 ,public availability ( waiv]s ,! ,director %all ma9ta9 a publicly available li/ ( ea* ag5cy t is op]at+ "u a waiv] issu$ "u ?is section4 7d7 ,requirem5t = waiv] ,a waiv] "u ?is section %all n be effective unless ! writt5 waiv] & ! writt5 reque/ ( ! ag5cy are publicly available on ! website ( ! ,(fice ( ,managem5t & ,budget4