H.R.1074 - Regulatory Right-to-Know Act of 1999106th Congress (1999-2000)
|Sponsor:||Rep. Bliley, Tom [R-VA-7] (Introduced 03/11/1999)|
|Committees:||House - Government Reform | Senate - Governmental Affairs|
|Committee Reports:||H. Rept. 106-168|
|Latest Action:||Senate - 07/27/1999 Received in the Senate and read twice and referred to the Committee on Governmental Affairs. (All Actions)|
|Roll Call Votes:||There have been 2 roll call votes|
This bill has the status Passed House
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Text: H.R.1074 — 106th Congress (1999-2000)All Information (Except Text)
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Referred in Senate (07/27/1999)
[Congressional Bills 106th Congress] [From the U.S. Government Printing Office] [H.R. 1074 Referred in Senate (RFS)] 1st Session H. R. 1074 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES July 27, 1999 Received; read twice and referred to the Committee on Governmental Affairs _______________________________________________________________________ AN ACT To provide Governmentwide accounting of regulatory costs and benefits, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Regulatory Right-to-Know Act of 1999''. SEC. 2. PURPOSES. The purposes of this Act are to-- (1) promote the public right-to-know about the costs and benefits of Federal regulatory programs and rules; (2) increase Government accountability; and (3) improve the quality of Federal regulatory programs and rules. SEC. 3. DEFINITIONS. In this Act: (1) In general.--Except as otherwise provided in this section, the definitions under section 551 of title 5, United States Code, shall apply to this Act. (2) Benefit.--The term ``benefit'' means the reasonably identifiable significant favorable effects, quantifiable and nonquantifiable, including social, health, safety, environmental, and economic effects, that are expected to result from implementation of, or compliance with, a rule. (3) Cost.--The term ``cost'' means the reasonably identifiable significant adverse effects, quantifiable and nonquantifiable, including social, health, safety, environmental, and economic effects, that are expected to result from implementation of, or compliance with, a rule. (4) Director.--The term ``Director'' means the Director of the Office of Management and Budget. (5) Major rule.--The term ``major rule'' has the meaning that term has under section 804(2) of title 5, United States Code. (6) Nonmajor rule.--The term ``nonmajor rule'' means any rule, as that term is defined in section 804(3) of title 5, United States Code, other than a major rule. (7) Paperwork.--The term ``paperwork'' has the meaning given the term ``collection of information'' under section 3502 of title 44, United States Code. (8) Program component.--The term ``program component'' means a set of related rules. SEC. 4. ACCOUNTING STATEMENT. (a) In General.--Not later than February 5, 2001, and on the first Monday in February of each year thereafter, the President, acting through the Director of the Office of Management and Budget, shall prepare and submit to the Congress an accounting statement and associated report containing an estimate of the total annual costs and benefits of Federal regulatory programs, including rules and paperwork-- (1) in the aggregate; (2) by agency, agency program, and program component; and (3) by major rule. (b) Additional Information.--In addition to the information required under subsection (a), the Director shall include in each accounting statement under subsection (a) the following information: (1) An analysis of impacts of Federal rules and paperwork on Federal, State, local, and tribal government, the private sector, small business, wages, consumer prices, economic growth as well as on public health, public safety, the environment, consumer protection, equal opportunity, and other public policy goals. (2) An identification and analysis of overlaps, duplications, and potential inconsistencies among Federal regulatory programs. (3) Recommendations to reform inefficient or ineffective regulatory programs or program components, including recommendations for addressing market failures that are not adequately addressed by existing regulatory programs or program components. (c) Net Benefits and Costs.--To the extent feasible, the Director shall, in estimates contained in any submission under subsection (a), quantify the net benefits or net costs of-- (1) each program component covered by the submission; (2) each major rule covered by the submission; and (3) each option for which costs and benefits were included in any regulatory impact analysis issued for any major rule covered by the submission. (d) Summary of Regulatory Activity.--The Director shall include in each submission under subsection (a) a table stating the number of major rules and the number of nonmajor rules issued by each agency in the preceding fiscal year. (e) Years Covered by Accounting Statement.--Each accounting statement submitted under this section shall, at a minimum-- (1) cover expected costs and benefits for the fiscal year for which the statement is submitted and each of the 4 fiscal years following that fiscal year; (2) cover previously expected costs and benefits for each of the 2 fiscal years preceding the fiscal year for which the statement is submitted, or the most recent revision of such costs and benefits; and (3) with respect to each major rule, include the estimates of costs and benefits for each of the fiscal years referred to in paragraphs (1) and (2) that were included in the regulatory impact analysis that was prepared for the major rule. (f) Delayed Application of Certain Requirements.-- (1) Application after first statement.--The following requirements shall not apply to the first accounting statement submitted under this section: (A) The requirement under subsection (a)(2) to include estimates with respect to program components. (B) The requirement under subsection (b)(2). (2) Application after second statement.--The requirement under subsection (b)(1) to include analyses of impacts on wages, consumer prices, economic growth, public health, public safety, the environment, consumer protection, equal opportunity, and other public policy goals shall not apply to the first and second accounting statements submitted under this section. SEC. 5. NOTICE AND COMMENT. (a) In General.--Before submitting an accounting statement and the associated report to Congress under section 4, and before preparing final guidelines under section 6, the Director of the Office of Management and Budget shall-- (1) provide public notice and an opportunity of at least 60 days for submission of comments on the statement and report or guidelines, respectively; and (2) consult with the Director of the Congressional Budget Office on the statement and report or guidelines, respectively. (b) Appendix.--After consideration of the comments, the Director shall include an appendix to the report or guidelines, respectively, addressing the public comments and peer review comments under section 7. (c) Availability of Peer Review Comments.--To ensure openness, the Director shall make all final peer review comments available in their entirety to the public. SEC. 6. GUIDELINES FROM THE OFFICE OF MANAGEMENT AND BUDGET. (a) In General.--Not later than 270 days after the date of enactment of this Act, the Director of the Office of Management and Budget, in consultation with the Council of Economic Advisers, shall issue guidelines to agencies to standardize-- (1) most plausible measures of costs and benefits; (2) the means of gathering information used to prepare accounting statements under this Act, including information required for impact analyses required under section 4(b)(1); and (3) the format of information provided for accounting statements, including summary tables. (b) Review.--The Director shall review submissions from the agencies to ensure consistency with the guidelines under this section. SEC. 7. PEER REVIEW. (a) In General.--The Director of the Office of Management and Budget shall arrange for two or more persons that have nationally recognized expertise in regulatory analysis and regulatory accounting and that are independent of and external to the Government, to provide peer review of each accounting statement and associated report under section 4 and the guidelines under section 6 before the statement, report, or guidelines are final. (b) Written Comments.--The peer review under this section shall provide written comments to the Director in a timely manner. The Director shall use the peer review comments in preparing the final statements, associated reports, and guidelines. (c) FACA.--Peer review under this section shall not be subject to the Federal Advisory Committee Act (5 U.S.C. App.). (d) Balance and Independence.--The Director shall ensure that-- (1) the persons that provide peer review under subsection (a) are fairly balanced with respect to the points of view represented; (2) no person that provides peer review under subsection (a) has a conflict of interest that is relevant to the functions to be performed in the review; and (3) the comments provided by those persons-- (A) are not inappropriately influenced by any special interest; and (B) are the result of independent judgment. SEC. 8. SPECIAL RULES RELATING TO CERTAIN FEDERAL BANKING AGENCIES AND MONETARY POLICY. (a) Transfer of Authority and Duties of Director.--The head of each Federal banking agency (as that term is defined in section 3(z) of the Federal Deposit Insurance Act (12 U.S.C. 1813(z)) and the National Credit Union Administration, and not the Director, shall exercise all authority and carry out all duties otherwise vested under this Act in the Director with respect to that agency, other than the authority and duty to submit accounting statements and reports under section 4(a). The head of each such agency shall submit to the Director all estimates and other information required by this Act to be included in such statements and reports with respect to that agency. (b) Exclusion of Monetary Policy.--No provision of this Act shall apply to any matter relating to monetary policy that is proposed or promulgated by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee. Passed the House of Representatives July 26, 1999. Attest: JEFF TRANDAHL, Clerk.