3.0.0 1920 2023-01-11T13:48:14Z 2023-01-11T13:48:14Z House HR 2021-03-16 117 [Congressional Record Volume 167, Number 49 (Tuesday, March 16, 2021)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GRAVES of Louisiana:H.R. 1920.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18 of the U.S. Constitution.[Page H1414]]]> hsju00 Judiciary Committee House Standing hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee Referred to 2021-05-19T00:32:33Z Referred to 2021-03-16T16:05:50Z 2021-05-18 hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee 1 House committee actions Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. Committee 2021-03-16 Referred to the House Committee on the Judiciary. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2021-03-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2021-03-16 Introduced in House IntroReferral 1000 9 Library of Congress G000577 Rep. Graves, Garret [R-LA-6] Garret Graves R LA 6 N C001063 Rep. Cuellar, Henry [D-TX-28] Henry Cuellar D TX 28 2021-03-16 True Government Operations and Politics Administrative law and regulatory procedures Competition and antitrust Competitiveness, trade promotion, trade deficits Congressional oversight Economic performance and conditions Government information and archives Inflation and prices Government Operations and Politics 00 2021-03-16 Introduced in House 2021-05-25T19:14:59Z Providing Retrospective Observations Validating Economics and Increasing Transparency Act of 2021 or the PROVE IT Act of 2021

This bill requires agencies, when publishing a final major rule and biennially thereafter, to assess the impact of the rule on regulated entities, determine how the actual benefits and costs of the rule have varied from those anticipated, and assess the effectiveness of the rule at meeting its regulatory objectives.

If an agency determines that the cost to regulated entities has exceeded the anticipated cost, then the agency must assess and report whether the rule is meeting its objectives and whether the rule is necessary. Further, in such case, the agency must reopen the public comment period for 60 days and consider modifications or alternatives to the rule.

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, or the ability of U.S.-based enterprises to compete with foreign-based enterprises.

]]> PROVE IT Act of 2021 Display Title PROVE IT Act of 2021 Official Title as Introduced To provide for Federal agency accountability and improve the effectiveness of major rules in accomplishing their regulatory objectives by requiring retrospective review and report, and for other purposes. Introduced in House IH Short Title(s) as Introduced PROVE IT Act of 2021 Introduced in House IH Short Title(s) as Introduced Providing Retrospective Observations Validating Economics and Increasing Transparency Act of 2021 Introduced in House IH Introduced in House 2021-03-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr1920ih/xml/BILLS-117hr1920ih.xml 2021-05-18 Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. 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.