3.0.0 2988 2023-01-11T13:25:04Z 2023-01-11T13:25:04Z Senate S S 2014-12-08 113 ssga00 Homeland Security and Governmental Affairs Committee Senate Standing Referred to 2014-12-09T00:02:16Z 2014-12-08 ssga00 Homeland Security and Governmental Affairs Committee Senate Read twice and referred to the Committee on Homeland Security and Governmental Affairs. IntroReferral 2014-12-08 Introduced in Senate IntroReferral 10000 9 Library of Congress L000577 Sen. Lee, Mike [R-UT] Mike Lee R UT N Government Operations and Politics Administrative law and regulatory procedures Budget process Congressional oversight Economic performance and conditions Executive agency funding and structure Government studies and investigations Legislative rules and procedure Small business Government Operations and Politics 00 2014-12-08 Introduced in Senate 2015-03-24T13:23:07Z Regulatory Cost Assessment Act of 2014 - Amends the Congressional Budget Act of 1974 to establish and enforce a federal regulatory budget.

Requires the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) to submit jointly to the President and Congress an analysis of the cost and economic effects of federal regulations, including recommendations for improvements to the regulatory budgeting process.

Requires CBO to submit: (1) a baseline projecting the federal regulatory cost over at least five fiscal years, (2) analysis of the regulatory cost of legislation reported by congressional committees, and (3) look-back reviews comparing CBO estimates with actual costs.

Requires a concurrent resolution on the budget to include levels for the federal regulatory cost for at least five fiscal years. Establishes a process for allocating the totals among congressional committees and subcommittees, programs, and major functional categories. Establishes a point of order against legislation that would cause the allocations to be exceeded and specifies requirements for waiving the point of order.

Requires the President's budget to include an analysis of the cost of compliance with current and proposed federal regulations and proposals for complying with the levels and allocations established under this Act.

Amends the Regulatory Flexibility Act to require agencies to provide additional analysis of the private sector costs for compliance with new regulations.

Requires federal agencies and the Government Accountability Office to provide reports and cost estimates for specified regulations.

]]> Regulatory Cost Assessment Act of 2014 Display Title Regulatory Cost Assessment Act of 2014 Official Title as Introduced A bill to amend the Congressional Budget Act of 1974 to establish a Federal regulatory budget and to impose cost controls on that budget, and for other purposes. Introduced in Senate IS Short Titles as Introduced Regulatory Cost Assessment Act of 2014 Introduced in Senate 2014-12-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113s2988is/xml/BILLS-113s2988is.xml 2014-12-08 Read twice and referred to the Committee on Homeland Security and Governmental Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.