,i #aah? ,,congress #a/ ,session ,h4 ,r4 #bfa ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,janu>y #aj1 #bjbc,mr4 ,good ( ,virg9ia 7= himself1 ,ms4 ,mace1 ,mrs4 ,mill] ( ,ill9ois1 & ,mr4 ,moore ( ,alabama7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ! ,budget1 & 9 addition to ! ,committees on ,rules1 ! ,judici>y1 ,ov]sight & ,acc\ntability1 & ,small ,bus9ess1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d ! ,congressional ,budget ,act ( #aigd to e/abli% a ,f$]al regulatory budget & to impose co/ controls on t budget1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,article ,i ,regulatory ,budget ,act4 #b4 ,presid5t's annual budget submissions ,section #aaje7;a7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ! foll[+3 7#dj7 7,a7 = ! fir/ fiscal ye> t beg9s at lea/ #abj days aft] ! date ( enactm5t ( ?is p>agraph1 & e fiscal ye> !reaft] until ! fif? fiscal ye> t beg9s aft] ! date ( enactm5t ( ?is p>agraph1 a projection ( ! ,f$]al regulatory co/ ( any propos$ ,f$]al regulation1 rule1 or /atem5t 7z su* t]ms are def9$ 9 section #cba ( ! ,congressional ,budget ,act ( #aigd7 = ! fiscal ye> & at lea/ ea* ( ! #d ensu+ fiscal ye>s1 :i* %all include-- 7i7 ! projection ( ! ,f$]al regulatory co/ by ag5cy & program2 & 7ii7 any *anges 9 a ,f$]al regulation1 rule1 or /atem5t 9 ! ,unifi$ ,ag5da ( ,f$]al ,regulatory & ,d]egulatory ,actions1 compil$ by ! ,regulatory ,in=mation ,s]vice ,c5t] ( ! ,g5]al ,s]vices ,adm9i/ration2 & 7,b7 = ! fif? fiscal ye> t beg9s aft] ! date ( enactm5t ( ?is p>agraph1 & e fiscal ye> !reaft]1 a regulatory au?ority budget analysis ( ! ,f$]al regulatory co/ ( comply+ ) all curr5t & propos$ ,f$]al regulations1 rules1 & /atem5ts & proposals 7z su* t]ms are def9$ 9 section #cba ( ! ,congressional ,budget ,act ( #aigd7 = comply+ ) section #cbb ( ! ,congressional ,budget ,act ( #aigd = ! fiscal ye> = :i* ! budget is submitt$ & ! #d fiscal ye>s aft] t ye>1 :i* %all include a regulatory au?ority budget analysis ( ! ,f$]al regulatory co/ by ag5cy & program4 4 #c4 ,e/imation & disclosure ( co/s ( ,f$]al regulation 7a7 ,co/s to private sector ( new f$]al regulations ,*apt] #f ( title #e1 ,unit$ ,/ates ,code1 popul>ly kn[n z ! ,regulatory ,flexibility ,act1 is am5d$-- 7#a7 9 section #fjc-- 7,a7 9 subsection 7a71 9 ! second s5t5ce1 by ins]t+ be=e ! p]iod ! foll[+3 & %all discuss 9 detail :e!r ! co/ to bus9esses ( comply+ ) ! propos$ rule w v>y dep5d+ on ! size ( ! bus9ess &1 if s1 to :at ext5t ! co/ w v>y & :at factors contribute to ! v>iation2 7,b7 9 subsection 7c7-- 7i7 by r$esignat+ p>agraphs 7#a71 7#b71 7#c71 & 7#d7 z subp>agraphs 7,a71 7,b71 7,c71 & 7,d71 respectively1 & adju/+ ! m>g9 accord+ly2 7ii7 by ins]t+ 7#a7 aft] 7c72 & 7iii7 by /rik+ ,consi/5t ) ! & ins]t+ ! foll[+3 7#b7 ,! analysis ( significant alt]natives to ! propos$ rule %all include a detail$ analysis ( ! co/s & b5efits ( ! propos$ rule & ea* alt]native1 :i* %all sep>ately address ! co/s & b5efits = ea* indu/ry4 7#c7 ,consi/5t ) ! 2 & 7,c7 by add+ at ! end ! foll[+3 7e7 ,ea* initial regulatory flexibility analysis %all also conta9 a description ( ! nature & am\nt ( monet>y co/s t w be incurr$ by small entities1 o!r bus9esses1 & individuals 9 comply+ ) ! propos$ rule4 2 7#b7 9 section #fjd7;a7-- 7,a7 9 ! fir/ p>agraph designat$ z p>agraph 7#f7 7relat+ to m9imization ( significant economic impacts71 by /rik+ & at ! end2 7,b7 by r$esignat+ ! second p>agraph 7#f7 7relat+ to cov]$ ag5cies71 z p>agraph 7#h72 & 7,c7 by ins]t+ aft] p>agraph 7#f7 ! foll[+3 7#g7 a /atem5t ( ! nature & am\nt ( monet>y co/s t w be incurr$ by small entities1 o!r bus9esses1 & individuals 9 comply+ ) ! rule2 & 2 & 7#c7 9 section #fjg1 by ins]t+ be=e ! p]iod ! foll[+3 1 except t e/imates ( monet>y co/s "u sections #fjc7;d7 & #fjd7;a77#g7 %all only be 9 ! =m ( a num]ical description4 7b7 ,ag5cy reports ,ea* ag5cy t prep>es an initial regulatory flexibility analysis "u *apt] #f ( title #e1 ,unit$ ,/ates ,code1 %all1 at ! same "t submit to ea* ,h\se ( ,congress1 ! ,congressional ,budget ,(fice1 & ! ,(fice ( ,managem5t & ,budget a co/ e/imate & co/ b5efit analysis ( any new propos$ regulations1 rules1 or /atem5ts t w\ld h a ,f$]al regulatory co/ 7z def9$ 9 section #cba ( ! ,congressional ,budget ,act ( #aigd1 z add$ by ?is ,act7 ( at lea/ #ajj1jjj1jjj = any fiscal ye>4 #d4 ,guidance docum5ts 7a7 ,def9itions ,9 ?is section-- 7#a7 ! t]ms ag5cy & rule h ! mean+s giv5 su* t]ms 9 section #eea ( title #e1 ,unit$ ,/ates ,code2 7#b7 ! t]m guidance docum5t means an ag5cy /atem5t ( g5]al applicability & future effect1 o!r ?an a rule1 t sets =? a policy on a /atutory1 regulatory1 or te*nical issue or an int]pretation ( a /atutory or regulatory issue2 & 7#c7 ! t]m significant guidance docum5t-- 7,a7 means a guidance docum5t t ! ,(fice ( ,managem5t & ,budget det]m9es w be dissem9at$ to regulat$ entities or ! g5]al public & may reasonably be anticipat$ to-- 7i7 lead to an annual effect ( n less ?an #ajj1jjj1jjj on1 or adv]sely affect 9 a mat]ial way1 ! economy1 a sector ( ! economy1 productivity1 competition1 jobs1 ! environm5t1 public heal? or safety1 or ,/ate1 local1 or tribal gov]nm5ts or communities2 7ii7 create a s]i\s inconsi/5cy or o!rwise int]f]e ) an action tak5 or plann$ by an ag5cy o!r ?an ! ag5cy issu+ ! guidance docum5t2 7iii7 mat]ially alt] ! budget>y impact ( entitlem5ts1 grants1 us] fees1 or loan programs or ! rights or obligations ( recipi5ts !re(2 or 7iv7 raise novel legal or policy issues aris+ out ( legal m&ates1 ! priorities ( ! ,presid5t1 or ! pr9ciples set =? 9 ,executive ,ord] #abhff 7#e ,u4,s4,c4 #fja note2 relat+ to regulatory plann+ & review72 & 7,b7 does n include a guidance docum5t t ! ,(fice ( ,managem5t & ,budget det]m9es-- 7i7 relates to regulations issu$ 9 accordance ) ! =mal rulemak+ provisions ( sections #eef & #eeg ( title #e1 ,unit$ ,/ates ,code2 7ii7 p]ta9s to a milit>y or =eign affairs function ( ! ,unit$ ,/ates1 o!r ?an procurem5t regulations & regulations involv+ ! import or export ( nondef5se articles & s]vices2 7iii7 relates to regulations t are limit$ to ag5cy organization1 managem5t1 or p]sonnel matt]s2 or 7iv7 is )9 a category ( guidance docum5ts exempt$ by ! ,adm9i/rator ( ! ,(fice ( ,in=mation & ,regulatory ,affairs4 7b7 ,limitation on guidance docum5ts ,an ag5cy may n issue a significant guidance docum5t unless ! ag5cy issues ! significant guidance docum5t aft] notice & an opportunity = comm5t 9 accordance ) ! requirem5ts = ! promulgation ( a rule "u *apt] #e ( title #e1 ,unit$ ,/ates ,code4 7c7 ,private "r ( action ,any p]son aggriev$ ( an action tak5 or fail$ to be tak5 "u a guidance docum5t t 0 n issu$ 9 accordance ) subsection 7b7 may br+ a civil action 9 an appropriate di/rict c\rt ( ! ,unit$ ,/ates alleg+ t ! guidance docum5t %\ld h be5 treat$ z a significant guidance docum5t4 #e4 ,am5dm5ts to ! ,congressional ,budget ,act ( #aigd 7a7 ,f$]al regulatory budget co/ control sy/em ,title ,,iii ( ! ,congressional ,budget ,act ( #aigd is am5d$-- 7#a7 by ins]t+ be=e section #cjj ! foll[+3 ,a ,g5]al provisions 2 & 7#b7 by add+ at ! end ! foll[+3 ,b ,f$]al regulatory budget co/ control #cba4 ,def9itions ,9 ?is "p-- 7#a7 ! t]m ,,cbo means ! ,congressional ,budget ,(fice2 7#b7 ! t]m direct co/ ( ,f$]al regulation means all co/s incurr$ by1 & exp5ditures requir$ (1 ! ,f$]al ,gov]nm5t 9 issu+ & en=c+ ,f$]al regulations1 rules1 & /atem5ts & ,f$]al /atutes2 7#c7 ! t]m ,f$]al regulation1 rule1 or /atem5t-- 7,a7 includes any guidance docum5t issu$ aft] notice & an opportunity = comm5t 9 accordance ) ! requirem5ts = ! promulgation ( a rule "u *apt] #e ( title #e1 ,unit$ ,/ates ,code2 & 7,b7 does n include-- 7i7 a ,f$]al regulation1 rule1 or /atem5t apply+ to-- 7,i7 ! milit>y2 or 7,,ii7 ag5cy organization1 managem5t1 or p]sonnel2 or 7ii7 a ,f$]al regulation1 rule1 or /atem5t designat$ by ! ,presid5t z be+-- 7,i7 necess>y because ( an imm95t ?reat to heal? or safety or o!r em]g5cy2 7,,ii7 necess>y = ! en=cem5t ( crim9al laws2 or 7,,iii7 necess>y = national security2 7#d7 ! t]m ,f$]al regulatory co/-- 7,a7 means all co/s incurr$ by1 & exp5ditures requir$ (1 ! private sector1 ,/ates1 or local gov]nm5ts 9 comply+ ) any ,f$]al regulation1 rule1 or /atem5t or any ,f$]al /atute2 & 7,b7 does n include ! value ( any b5efit "u ! ,f$]al regulation1 rule1 or /atem5t or ! ,f$]al /atute2 7#e7 ! t]m gross dome/ic product means ! gross dome/ic product ( ! ,unit$ ,/ates dur+ a fiscal ye>1 consi/5t ) ,dep>tm5t ( ,comm]ce def9itions2 7#f7 ! t]m ,,omb means ! ,(fice ( ,managem5t & ,budget2 & 7#g7 ! t]m regulatory basel9e means ! projection describ$ 9 section #cbf7;a7 ( ! ,f$]al regulatory co/ = ! fiscal ye> aft] ! date ( ! projection & ! outye>s4 #cbb4 ,e/abli%m5t ( level & allocations 7a7 ,e/abli%m5t ( level 7#a7 ,9 g5]al ,9 addition to ! requirem5ts "u section #cja1 a concurr5t resolution on ! budget = a fiscal ye> %all set =? ! appropriate level = ! ,f$]al regulatory co/ = ! fiscal ye> & = at lea/ ea* ( ! #d ensu+ fiscal ye>s4 7#b7 ,transition p]iod 7,a7 ,9 g5]al ,= ! fir/ fiscal ye> t beg9s at lea/ #abj days aft] ! date ( enactm5t ( ?is section1 & ea* fiscal ye> !reaft] until ! fiscal ye> describ$ 9 section #cbf7;a71 ! ,committee on ! ,budget ( ! ,s5ate & ! ,committee on ! ,budget ( ! ,h\se ( ,repres5tatives %all include 9 ! concurr5t resolution on ! budget = ! fiscal ye> z ! appropriate level = ! ,f$]al regulatory co/ = ! fiscal ye> & any o!r fiscal ye> cov]$ by ! resolution ! propos$ levels submitt$ by ! ,presid5t "u section #aaje7;a77#dj7 ( title #ca1 ,unit$ ,/ates ,code4 7,b7 ,am5dm5ts 7i7 ,9 g5]al ,9 ! ,s5ate & ! ,h\se ( ,repres5tatives1 x %all n be 9 ord] to consid] an am5dm5t to a concurr5t resolution on ! budget t1 if agre$ to1 w\ld result 9 a net increase 9 a level includ$ pursuant to subp>agraph 7,a74 7ii7 ,waiv] & appeal ,a po9t ( ord] "u clause 7i7 may only be waiv$ by ! affirmative vote ( ?ree-fif?s ( ! ,memb]s1 duly *os5 & sworn4 ,an affirmative vote ( ?ree-fif?s ( ,memb]s1 duly *os5 & sworn1 %all be requir$ to su/a9 an appeal ( ! rul+ ( ! ,*air on a po9t ( ord] rais$ "u clause 7i74 7#c7 ,default total ,if !re is n a level = ! ,f$]al regulatory co/ t is 9 effect = a fiscal ye> "u a concurr5t resolution on ! budget-- 7,a7 = ! fir/ fiscal ye> t beg9s at lea/ #abj days aft] ! date ( enactm5t ( ?is section1 & e fiscal ye> !reaft] until ! fiscal ye> describ$ 9 subp>agraph 7,b71 ! appropriate level = ! ,f$]al regulatory co/ = ! fiscal ye> %all be ! propos$ level submitt$ by ! ,presid5t "u section #aaje7;a77#dj7 ( title #ca1 ,unit$ ,/ates ,code2 7,b7 = ! fif? fiscal ye> t beg9s aft] ! date ( enactm5t ( ?is section1 ! appropriate level = ! ,f$]al regulatory co/ = ! fiscal ye> %all be ! am\nt ( ! fir/ regulatory basel9e submitt$ "u section #cbf2 & 7,c7 = ea* fiscal ye> aft] ! fiscal ye> describ$ 9 subp>agraph 7,b71 ! appropriate level = ! ,f$]al regulatory co/ = ! fiscal ye> %all be ! level = ! mo/ rec5t fiscal ye> = :i* su* a level 0 9 effect 7"u subp>agraph 7,b71 ?is subp>agraph1 or a concurr5t resolution on ! budget74 7b7 ,allocation ( totals 7#a7 ,9 g5]al ,= ! fir/ fiscal ye> t beg9s at lea/ #abj days aft] ! date ( enactm5t ( ?is section1 & ea* fiscal ye> !reaft]1 ! jo9t explanatory /atem5t accompany+ ! conf]5ce report on a concurr5t resolution on ! budget = su* fiscal ye> %all include allocations ( ! ,f$]al regulatory co/ 9 effect "u subsection 7a7 = su* fiscal ye> & at lea/ ea* ( ! #d ensu+ fiscal ye>s-- 7,a7 among ea* committee ( ! ,s5ate & ea* committee ( ! ,h\se ( ,repres5tatives2 7,b7 by major functional category2 & 7,c7 by ag5cy4 7#b7 ,suballocations ,z soon z practicable aft] receiv+ an allocation "u p>agraph 7#a71 ea* committee %all-- 7,a7 suballocate its allocation-- 7i7 among its subcommittees2 7ii7 among programs ov] :i* ! committee has jurisdiction2 & 7iii7 by ag5cy2 & 7,b7 submit = pr9t+ 9 ! ,congressional ,record a /atem5t detail+ ea* suballocation made by ! committee "u subp>agraph 7,a74 7c7 ,po9t ( ord] 7#a7 ,9 g5]al ,if a concurr5t resolution on ! budget sett+ =? ! appropriate level = ! ,f$]al regulatory co/ = a fiscal ye> has be5 agre$ to1 x %all n be 9 ord] 9 ! ,s5ate or ! ,h\se ( ,repres5tatives to consid] any bill or resolution1 or am5dm5t !reto1 :i* w\ld cause an allocation or suballocation ( ! ,f$]al regulatory co/ made "u subsection 7b7 = t fiscal ye> to be exce$$4 7#b7 ,waiv] & appeal ,a po9t ( ord] "u p>agraph 7#a7 may only be waiv$ by ! affirmative vote ( ?ree-fif?s ( ! ,memb]s1 duly *os5 & sworn4 ,an affirmative vote ( ?ree-fif?s ( ,memb]s1 duly *os5 & sworn1 %all be requir$ to su/a9 an appeal ( ! rul+ ( ! ,*air on a po9t ( ord] rais$ "u p>agraph 7#a74 7d7 ,det]m9ations by budget committees ,= purposes ( ?is section1 ! am\nt ( ! ,f$]al regulatory co/ = a fiscal ye> & ! am\nt ( ! ,f$]al regulatory co/ ( a bill or resolution1 or am5dm5t !reto1 %all be det]m9$ by ! ,committee on ! ,budget ( ! ,s5ate or ! ,committee on ! ,budget ( ! ,h\se ( ,repres5tatives1 z ! case may be4 #cbc4 ,analysis ( ,f$]al regulatory co/ by ,congressional ,budget ,(fice 7a7 ,9 g5]al ,,cbo %all prep>e = ea* bill or resolution ( a public "* report$ by any committee ( ! ,s5ate or ! ,h\se ( ,repres5tatives 7except ! ,committee on ,appropriations ( ea* ,h\se71 & submit to su* committee-- 7#a7 an e/imate ( ! co/s :i* w\ld be incurr$ by ! private sector 9 c>ry+ out or comply+ ) su* bill or resolution 9 ! fiscal ye> 9 :i* x is to become effective & 9 ea* ( ! #d fiscal ye>s foll[+ su* fiscal ye>1 :i* %all include-- 7,a7 a net pres5t value e/imate ( ! co/ ( compliance by ! private sector ) su* bill or resolution2 & 7,b7 a discussion ( ! me?odology us$ to prep>e1 & ! basis =1 ea* su* e/imate2 & 7#b7 a comp>ison ( ! e/imate ( co/s describ$ 9 p>agraph 7#a7 ) any available e/imates ( co/s made by su* committee or by any ag5cy4 7b7 ,look-,back reviews ,,cbo %all p]iodically submit to ,congress a report1 prep>$ 9 consultation ) ! ,*airman ( ! ,adm9i/rative ,conf]5ce ( ! ,unit$ ,/ates1 t-- 7#a7 reviews a sample ( laws ( a public "* = :i* an e/imate 0 prep>$ "u subsection 7a77#a72 & 7#b7 comp>es ! e/imates ( ! co/s describ$ 9 p>agraphs 7#a7 & 7#b7 ( subsection 7a7 & ! actual co/s incurr$ by ! private sector 9 c>ry+ out or comply+ ) ! law 9 ! fiscal ye> 9 :i* x took effect & 9 ea* ( ! #d fiscal ye>s foll[+ su* fiscal ye>4 #cbd4 ,en=cem5t 7a7 ,en=cem5t language requir$ 9 appropriation acts ,if a concurr5t resolution on ! budget t includes levels & allocations ( ! ,f$]al regulatory co/ = a fiscal ye> has be5 agre$ to1 x %all n be 9 ord] 9 ! ,s5ate or ! ,h\se ( ,repres5tatives to consid] a bill1 jo9t resolution1 am5dm5t betwe5 ! ,h\ses1 or conf]5ce report mak+ appropriations = ! fiscal ye> t does n include a provision prohibit+ am\nts made available "u ! measure f be+ obligat$ or exp5d$ to en=ce a ,f$]al regulation1 rule1 or /atem5t t w\ld cause a brea* ( any level or allocation ( ! ,f$]al regulatory co/ 9 effect = a fiscal ye>4 7b7 ,waiv] & appeal ,subsection 7a7 may be waiv$ or susp5d$ 9 ! ,s5ate only by an affirmative vote ( two-?irds ( ! ,memb]s1 duly *os5 & sworn4 ,an affirmative vote ( two-?irds ( ! ,memb]s ( ! ,s5ate1 duly *os5 & sworn1 %all be requir$ to su/a9 an appeal ( ! rul+ ( ! ,*air on a po9t ( ord] rais$ "u subsection 7a74 7c7 ,review ( co/ 7#a7 ,det]m9ations ( co/ 7,a7 ,,bea det]m9ation ,! ,bureau ( ,economic ,analysis ( ! ,dep>tm5t ( ,comm]ce %all det]m9e ! *ange 9 ! ,f$]al regulatory co/ attributable to ea* newly promulgat$1 or am5dm5t to a1 ,f$]al regulation1 rule1 or /atem5t4 7,b7 ,guidance = ag5cies ,! ,bureau ( ,economic ,analysis ( ! ,dep>tm5t ( ,comm]ce %all issue guidance to ag5cies reg>d+ ! me?odology to be us$ to det]m9e ! am\nt (1 & any *ange 91 ! ,f$]al regulatory co/ attributable to ea* newly promulgat$1 or am5dm5t to a1 ,f$]al regulation1 rule1 or /atem5t4 7,c7 ,m&atory use by ag5cies ,= purposes ( any analysis conduct$ by an ag5cy 7)\t reg>d to :e!r ! analysis is conduct$ = purposes ( ?is ,act71 ea* ag5cy %all det]m9e ! am\nt (1 & any *ange 91 ! ,f$]al regulatory co/ attributable to ea* newly promulgat$1 or am5dm5t to a1 ,f$]al regulation1 rule1 or /atem5t 9 accordance ) ! guidance issu$ "u subp>agraph 7,b74 7#b7 ,,omb det]m9ation ,! ,,omb %all det]m9e :e!r ! *ange 9 ! ,f$]al regulatory co/ det]m9$ "u p>agraph 7#a7 w\ld cause a brea* ( any level or allocation ( ! ,f$]al regulatory co/ 9 effect = a fiscal ye>1 :i* %all incorporate any r$uction to ! level or allocation ( ! ,f$]al regulatory co/ attributable to a revision ( a ,f$]al regulation1 rule1 or /atem5t dur+ ! fiscal ye>4 7#c7 ,,cbo review ,! ,,cbo %all-- 7,a7 review ! me?odology us$ by ! ,bureau ( ,economic ,analysis & ! ,,omb = ea* det]m9ation "u p>agraphs 7#a7 & 7#b72 & 7,b7 issue an op9ion on :e!r ! *ange 9 ! ,f$]al regulatory co/ attributable to ! applicable newly promulgat$1 or am5dm5t to a1 ,f$]al regulation1 rule1 or /atem5t w\ld cause a brea* ( any level or allocation ( ! ,f$]al regulatory co/ 9 effect = a fiscal ye>4 7d7 ,implem5tation ,! ,,omb %all issue a directive prohibit+ funds f be+ obligat$ or exp5d$ to en=ce a newly promulgat$1 or am5dm5t to a1 ,f$]al regulation1 rule1 or /atem5t dur+ a fiscal ye> if-- 7#a7 ! ,,omb det]m9es t *ange 9 ! ,f$]al regulatory co/ attributable to ! newly promulgat$1 or am5dm5t to a1 ,f$]al regulation1 rule1 or /atem5t1 z det]m9$ by ! ,bureau ( ,economic ,analysis "u subsection 7c77#a71 w\ld cause a brea* ( any level or allocation ( ! ,f$]al regulatory co/ 9 effect = ! fiscal ye>2 & 7#b7 ! appropriation ,act mak+ ! applicable appropriations = ! fiscal ye> conta9s a provision describ$ 9 subsection 7a74 7e7 ,(fsett+ sav+s ,9 mak+ det]m9ations "u ?is section ) respect to a newly promulgat$1 or am5dm5t to a1 ,f$]al regulation1 rule1 or /atem5t1 ! ,bureau ( ,economic ,analysis1 ! ,,cbo1 & ! ,,omb %all subtract f ! am\nt ( ! ,f$]al regulatory co/1 & any applicable allocation !re(1 any r$uction to ! ,f$]al regulatory co/ t is attributable to a revision ( ano!r ,f$]al regulation1 rule1 or /atem5t made z "p ( ! same rulemak+4 7f7 ,private "r ( action ,any p]son aggriev$ ( an action tak5 or fail$ to be tak5 "u a ,f$]al regulation1 rule1 or /atem5t = :i* ! ,,omb has issu$ a directive prohibit+ en=cem5t "u subsection 7d7 may br+ a civil action 9 an appropriate di/rict c\rt ( ! ,unit$ ,/ates alleg+ t ! ,f$]al regulation1 rule1 or /atem5t %\ld n h be5 en=c$4 #cbe4 ,,omb-,,cbo reports ,n lat] ?an #e ye>s aft] ! date ( enactm5t ( ?is section1 & n lat] ?an ,septemb] #ae? ( ea* odd-numb]$ ye> !reaft]1 ,,omb & ,,cbo %all jo9tly submit to ! ,presid5t1 ! ,s5ate1 & ! ,h\se ( ,repres5tatives a report t includes-- 7#a7 a projection ( ! direct co/ ( ,f$]al regulation & ! ,f$]al regulatory co/ = ! fir/ fiscal ye> beg9n+ aft] ! date ( ! report & at lea/ ea* ( ! #d ensu+ fiscal ye>s2 7#b7 a calculation ( ! e/imat$ direct co/ ( ,f$]al regulation & ,f$]al regulatory co/ z a p]c5tage ( ! gross dome/ic product2 7#c7 ! r$uction 9 e/imat$ gross dome/ic product attributable to private sector compliance ) all ,f$]al regulations1 rules1 or /atem5ts & all ,f$]al /atutes2 7#d7 a detail$ description ( ! effect on ! economy ( ! ,unit$ ,/ates ( ,f$]al regulations1 rules1 & /atem5ts & ,f$]al /atutes1 :i* %all be categoriz$ z relat+ to-- 7,a7 regulation ( ! economy2 7,b7 security1 includ+ homel& security2 7,c7 ! environm5t2 7,d7 heal? & safety2 or 7,e7 ! ,f$]al budget2 7#e7 a discussion ( ! expect$ r$uction 9 p]sonnel1 adm9i/rative ov]head1 & programmatic co/s t w\ld be a*iev$ by ,f$]al ag5cies t issue regulations1 rules1 or /atem5ts ) a ,f$]al regulatory co/ if ! ,f$]al ag5cies r$uc$ ! ,f$]al regulatory co/ by #e p]c5t2 7#f7 recomm5dations = budget+1 te*nical1 & e/imat+ *anges to improve ! ,f$]al regulatory budget+ process2 7#g7 ! ,f$]al regulatory co/ impos$ by ea* ,executive bran* ag5cy on regulat$ entities2 7#h7 ! direct co/ ( ,f$]al regulation attributable to ea* ,executive bran* ag5cy2 7#i7 ! ,f$]al regulatory co/s impos$ by ea* ,executive bran* ag5cy on small bus9esses1 small organizations1 & small gov]nm5tal jurisdictions 7z ^? t]ms are def9$ 9 section #fja ( title #e1 ,unit$ ,/ates ,code72 & 7#aj7 ! sum ( ! co/s describ$ 9 p>agraph 7#i74 #cbf4 ,regulatory basel9e 7a7 ,9 g5]al ,= ! fif? fiscal ye> t beg9s aft] ! date ( enactm5t ( ?is section & = e second fiscal ye> !reaft]1 ,,cbo1 9 consultation ) ,,omb1 %all submit to ! ,presid5t1 ! ,s5ate1 & ! ,h\se ( ,repres5tatives a regulatory basel9e1 consi/+ ( a projection ( ! ,f$]al regulatory co/ = ! fiscal ye> & at lea/ ea* ( ! #d ensu+ fiscal ye>s4 ,9 prep>+ ! projection ( ! regulatory basel9e "u ?is subsection1 = ! second fiscal ye> cov]$ "u ! projection & ea* fiscal ye> !reaft]1 ,,cbo %all adju/ ! basel9e = ! e/imat$ gr[? dur+ t fiscal ye> 9 ! gross dome/ic product4 7b7 ,deadl9e ,! ,,cbo %all submit a regulatory basel9e requir$ "u subsection 7a7 = a fiscal ye> n lat] ?an ! date on :i* ! ,,cbo submits ! report requir$ "u section #bjb7;e77#a7 ) respect to t fiscal ye>4 7c7 ,regul> updates on developm5t ( regulatory basel9e ,n lat] ?an ! date on :i* ! ,,cbo submits ! report requir$ "u section #bjb7;e77#a7 ) respect to ea* fiscal ye> dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is section & end+ on ! date on :i* ! ,,cbo submits ! fir/ projection ( ! ,f$]al regulatory co/ "u subsection 7a71 ! ,,cbo %all submit to ! ,committee on ! ,budget ( ! ,s5ate & ! ,committee on ! ,budget ( ! ,h\se ( ,repres5tatives an annual update on ! progress ( ! ,,cbo 9 develop+ ! regulatory basel9e4 4 7b7 ,te*nical & con=m+ am5dm5t ,! table ( cont5ts set =? 9 section #a7;b7 ( ! ,congressional ,budget & ,imp\ndm5t ,control ,act ( #aigd is am5d$-- 7#a7 by ins]t+ be=e ! item relat+ to section #cjj ! foll[+3 ,"p ,a4 ,g5]al provisions 2 & 7#b7 by ins]t+ aft] ! item relat+ to section #cae ! foll[+3 ,"p ,b4 ,f$]al regulatory budget co/ control ,sec4 #cba4 ,def9itions4 ,sec4 #cbb4 ,e/abli%m5t ( level & allocations4 ,sec4 #cbc4 ,analysis ( ,f$]al regulatory co/ by ,congressional ,budget ,(fice4 ,sec4 #cbd4 ,en=cem5t4 ,sec4 #cbe4 ,,omb-,,cbo reports4 ,sec4 #cbf4 ,regulatory basel9e4 4 #f4 ,/udy ( nonmajor rules 7a7 ,def9itions ,9 ?is section-- 7#a7 ! t]m ag5cy has ! mean+ giv5 t t]m 9 section #eea ( title #e1 ,unit$ ,/ates ,code2 7#b7 ! t]m cov]$ guidance docum5t means any guidance docum5t t has result$ or is likely to result 9 an annual effect on ! economy ( n less ?an #aj1jjj1jjj2 7#c7 ! t]m cov]$ nonmajor rule means any rule t has result$ 9 or is likely to result 9 an annual effect on ! economy ( n less ?an #aj1jjj1jjj & n m ?an #ajj1jjj1jjj2 7#d7 ! t]m guidance docum5t means an ag5cy /atem5t ( g5]al applicability & future effect1 o!r ?an a rule1 t sets =? a policy on a /atutory1 regulatory1 or te*nical issue or an int]pretation ( a /atutory or regulatory issue2 7#e7 ! t]m ,f$]al regulatory co/ has ! mean+ giv5 t t]m "u section #cba ( ! ,congressional ,budget ,act ( #aigd1 z add$ by ?is ,act2 & 7#f7 ! t]m rule has ! mean+ giv5 t t]m 9 section #hjd ( title #e1 ,unit$ ,/ates ,code4 7b7 ,reports ,n lat] ?an #abj days aft] ! date ( enactm5t ( ?is ,act & e #b ye>s !reaft]1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ,congress a report reg>d+ cov]$ nonmajor rules & cov]$ guidance docum5ts1 :i* %all include1 = ! #d-ye> p]iod imm$iately prec$+ ! report-- 7#a7 ! numb] ( cov]$ nonmajor rules promulgat$2 7#b7 ! numb] ( cov]$ nonmajor rules implem5t$2 7#c7 ! numb] ( cov]$ guidance docum5ts develop$2 7#d7 ! numb] ( cov]$ guidance docum5ts issu$2 7#e7 ! ,f$]al regulatory co/ ( ea* cov]$ nonmajor rule implem5t$2 7#f7 ! ,f$]al regulatory co/ ( ea* cov]$ guidance docum5t issu$2 7#g7 ! aggregate ,f$]al regulatory co/ ( all cov]$ nonmajor rules implem5t$2 7#h7 ! aggregate ,f$]al regulatory co/ ( all cov]$ guidance docum5ts issu$2 & 7#i7 a discussion ( any cov]$ nonmajor rule = :i* an initial regulatory flexibility analysis 0 prep>$ "u section #fjc ( title #e1 ,unit$ ,/ates ,code1 a f9al regulatory flexibility analysis 0 prep>$ "u section #fjd ( title #e1 ,unit$ ,/ates ,code1 or a co/ b5efit analysis 0 prep>$ t und]e/imat$ ! actual ,f$]al regulatory co/ ( implem5t+ ! cov]$ nonmajor rule4