[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1198 Enrolled Bill (ENR)]

        S.1198

                       One Hundred Sixth Congress

                                 of the

                        United States of America


                          AT THE SECOND SESSION

           Begun and held at the City of Washington on Monday,
             the twenty-fourth day of January, two thousand


                                 An Act


 
To establish a 3-year pilot project for the General Accounting Office to 
    report to Congress on economically significant rules of Federal 
                    agencies, 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 ``Truth in Regulating Act of 2000''.

SEC. 2. PURPOSES.

    The purposes of this Act are to--
        (1) increase the transparency of important regulatory 
    decisions;
        (2) promote effective congressional oversight to ensure that 
    agency rules fulfill statutory requirements in an efficient, 
    effective, and fair manner; and
        (3) increase the accountability of Congress and the agencies to 
    the people they serve.

SEC. 3. DEFINITIONS.

    In this Act, the term--
        (1) ``agency'' has the meaning given such term under section 
    551(1) of title 5, United States Code;
        (2) ``economically significant rule'' means any proposed or 
    final rule, including an interim or direct final rule, that may 
    have an annual effect on the economy of $100,000,000 or more or 
    adversely affect in a material way the economy, a sector of the 
    economy, productivity, competition, jobs, the environment, public 
    health or safety, or State, local, or tribal governments or 
    communities; and
        (3) ``independent evaluation'' means a substantive evaluation 
    of the agency's data, methodology, and assumptions used in 
    developing the economically significant rule, including--
            (A) an explanation of how any strengths or weaknesses in 
        those data, methodology, and assumptions support or detract 
        from conclusions reached by the agency; and
            (B) the implications, if any, of those strengths or 
        weaknesses for the rulemaking.

SEC. 4. PILOT PROJECT FOR REPORT ON RULES.

    (a) In General.--
        (1) Request for review.--When an agency publishes an 
    economically significant rule, a chairman or ranking member of a 
    committee of jurisdiction of either House of Congress may request 
    the Comptroller General of the United States to review the rule.
        (2) Report.--The Comptroller General shall submit a report on 
    each economically significant rule selected under paragraph (4) to 
    the committees of jurisdiction in each House of Congress not later 
    than 180 calendar days after a committee request is received. The 
    report shall include an independent evaluation of the economically 
    significant rule by the Comptroller General.
        (3) Independent evaluation.--The independent evaluation of the 
    economically significant rule by the Comptroller General under 
    paragraph (2) shall include--
            (A) an evaluation of the agency's analysis of the potential 
        benefits of the rule, including any beneficial effects that 
        cannot be quantified in monetary terms and the identification 
        of the persons or entities likely to receive the benefits;
            (B) an evaluation of the agency's analysis of the potential 
        costs of the rule, including any adverse effects that cannot be 
        quantified in monetary terms and the identification of the 
        persons or entities likely to bear the costs;
            (C) an evaluation of the agency's analysis of alternative 
        approaches set forth in the notice of proposed rulemaking and 
        in the rulemaking record, as well as of any regulatory impact 
        analysis, federalism assessment, or other analysis or 
        assessment prepared by the agency or required for the 
        economically significant rule; and
            (D) a summary of the results of the evaluation of the 
        Comptroller General and the implications of those results.
        (4) Procedures for priorities of requests.--The Comptroller 
    General shall have discretion to develop procedures for determining 
    the priority and number of requests for review under paragraph (1) 
    for which a report will be submitted under paragraph (2).
    (b) Authority of Comptroller General.--Each agency shall promptly 
cooperate with the Comptroller General in carrying out this Act. 
Nothing in this Act is intended to expand or limit the authority of the 
General Accounting Office.

SEC. 5. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated to the General Accounting 
Office to carry out this Act $5,200,000 for each of fiscal years 2000 
through 2002.

SEC. 6. EFFECTIVE DATE AND DURATION OF PILOT PROJECT.

    (a) Effective Date.--This Act and the amendments made by this Act 
shall take effect 90 days after the date of enactment of this Act.
    (b) Duration of Pilot Project.--The pilot project under this Act 
shall continue for a period of 3 years, if in each fiscal year, or 
portion thereof included in that period, a specific annual 
appropriation not less than $5,200,000 or the pro-rated equivalent 
thereof shall have been made for the pilot project.
    (c) Report.--Before the conclusion of the 3-year period, the 
Comptroller General shall submit to Congress a report reviewing the 
effectiveness of the pilot project and recommending whether or not 
Congress should permanently authorize the pilot project.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.