S.1420 - Setting Manageable Analysis Requirements in Text Act of 2019116th Congress (2019-2020) |
|Sponsor:||Sen. Sinema, Kyrsten [D-AZ] (Introduced 05/13/2019)|
|Committees:||Senate - Homeland Security and Governmental Affairs|
|Committee Reports:||S. Rept. 116-55|
|Latest Action:||Senate - 07/15/2019 Placed on Senate Legislative Calendar under General Orders. Calendar No. 147. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1420 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (05/13/2019)
Setting Manageable Analysis Requirements in Text Act of 2019 or the SMART Act of 2019
This bill requires agencies, when publishing a proposed or final major rule, to include a framework for assessing whether the rule achieves its regulatory objective. An agency must assess a rule in the time frame included in the framework. The assessment must compare the rule's anticipated and actual benefits and costs.
The bill defines a major rule as a rule likely to cause (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, health, safety, the environment, or the ability of U.S.-based enterprises to compete with foreign-based enterprises.