[106th Congress Public Law 312]
[From the U.S. Government Printing Office]
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[DOCID: f:publ312.106]
[[Page 1247]]
TRUTH IN REGULATING ACT OF 2000
[[Page 114 STAT. 1248]]
Public Law 106-312
106th Congress
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. <<NOTE: Oct. 17, 2000 - [S. 1198]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress <<NOTE: Truth in Regulating Act of
2000. 5 USC 801 note.>> assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Truth in Regulating Act of 2000''.
SEC. 2. <<NOTE: 5 USC 801 note.>> 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. <<NOTE: 5 USC 801 note.>> 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. <<NOTE: 5 USC 801 note.>> 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
[[Page 114 STAT. 1249]]
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) <<NOTE: Deadline.>> 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. <<NOTE: 5 USC 801 note.>> 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. <<NOTE: 5 USC 801 note.>> 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.
[[Page 114 STAT. 1250]]
(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.
Approved October 17, 2000.
LEGISLATIVE HISTORY--S. 1198:
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SENATE REPORTS: No. 106-225 (Comm. on Governmental Affairs).
CONGRESSIONAL RECORD, Vol. 146 (2000):
May 9, considered and passed Senate.
Oct. 3, considered and passed House.
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