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         <subtitle>Report together with minority views to accompany H.R. 926, including cost estimate of the Congressional Budget Office, The Committee on the Judiciary, to whom was referred the bill (H.R. 926) to promote regulatory flexibility and enhance public participation in Federal agency rulemaking and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass. The amendment is as follows: Strike out all after the enacting clause and insert in lieu thereof the following: SECTION 1. SHORT TITLE. This Act may be cited as the ``Regulatory Reform and Relief Act&apos;&apos;. TITLE I--STRENGTHENING REGULATORY FLEXIBILITY SEC. 101. JUDICIAL REVIEW. (a) Amendment.--Section 611 of title 5, United States Code, is amended to read as follows: ``Sec. 611. Judicial review ``(a)(1) Except as provided in paragraph (2), not later than 180 days after the effective date of a final rule with respect to which an agency-- ``(A) certified, pursuant to section 605(b), that such rule would not have a significant economic impact on a substantial number of small entities; or ``(B) prepared a final regulatory flexibility analysis pursuant to section 604, an affected small entity may petition for the judicial review of such certification or analysis in accordance with the terms of this subsection. A court having jurisdiction to review such rule for compliance with the provisions of section 553 or under any other provision of law shall have jurisdiction to review such certification or analysis. ``(2)(A) Except as provided in subparagraph (B), in the case where a provision of law requires that an action challenging a final agency regulation be commenced before the expiration of the 180 day period provided in paragraph (1), such lesser period shall apply to a petition for the judicial review under this subsection. ``(B) in the case where an agency delays the issuance of a final regulatory flexibility analysis pursuant to section 608(b), a petition for judicial review under this subsection shall be filed not later than-- ``(i) 180 days; or ``(ii) in the case where a provision of law requires that an action challenging a final agency regulation be commenced before the expiration of the 180-day period provided in paragraph (1), the number of days specified in such provision of law, after the date the analysis is made available to the public. ``(3) For purposes of this subsection, the term `affected small entity&apos; means a small entity that is or will be adversely affected by the final rule. ``(4) Nothing in this subsection shall be construed to affect the authority of any court to stay the effective date of any rule or provision thereof under any other provision of law. ``(5)(A) in the case where the agency certified that such rule would not have a significant economic impact on a substantial number of small entities, the court may order the agency to prepare a final regulatory flexibility analysis pursuant to section 604 if the court determines, on the basis of the rulemaking record, that the certification was arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law. ``(B) in the case where the agency prepared a final regulatory flexibility analysis, the court may order the agency to take corrective action consistent with the requirements of section 604 if the court determines, on the basis of the rulemaking record, that the final regulatory flexibility analysis was prepared by the agency without observance of procedure required by section 604. ``(6) If, by the end of the 90-day period beginning on the date of the order of the court pursuant to paragraph (5) (or such longer period as the court may provide), the agency fails, as appropriate-- ``(A) to prepare the analysis required by section 604; or ``(B) to take corrective action consistent with the requirements of section 604, the court may stay the rule or grant such other relief as it deems appropriate. ``(7) in making any determination or granting any relief authorized by this subsection, the court shall take due account of the rule of prejudicial error. ``(b) in an action for the judicial review of a rule, any regulatory flexibility analysis for such rule (including an analysis prepared or corrected pursuant to subsection (a)(5)) shall constitute part of the whole record of agency action in connection with such review. ``(c) Nothing in this section bars judicial review of any other impact statement or similar analysis required by any other law if judicial review of such statement or analysis is otherwise provided by law.&apos;&apos;. (b) Effective Date.--The amendment made by subsection (a) shall apply only to final agency rules issued after the date of enactment of this Act. SEC. 102. RULES COMMENTED ON BY SBA CHIEF COUNSEL FOR ADVOCACY. (a) in General.--Section 612 of title 5, United States Code, is amended by adding at the end the following new subsection: ``(d) Action by the SBA Chief Counsel for Advocacy.-- ``(1) Transmittal of proposed rules and initial regulatory flexibility analysis to sba chief counsel for advocacy.--On or before the 30th day preceding the date of publication by an agency of general notice of proposed rulemaking for a rule, the agency shall transmit to the Chief Counsel for Advocacy of the Small Business Administration-- ``(A) a copy of the proposed rule; and ``(B)(i) a copy of the initial regulatory flexibility analysis for the rule if required under section 603; or ``(ii) a determination by the agency that an initial regulatory flexibility analysis is not required for the proposed rule under section 603 and an explanation for the determination. ``(2) Statement of effect.--On or before the 15th day following receipt of a proposed rule and initial regulatory flexibility analysis from an agency under paragraph (1), the Chief Counsel for Advocacy may transmit to the agency a written statement of the effect of the proposed rule on small entities. ``(3) Response.--If the Chief Counsel for Advocacy transmits to an agency a statement of effect on a proposed rule in accordance with paragraph (2), the agency shall publish the statement, together with the response of the agency to the statement, in the Federal Register at the time of publication of general notice of proposed rulemaking for the rule. ``(4) Special rule.--Any proposed rules issued by an appropriate Federal banking agency (as that term is defined in section 3(q) of the Federal Deposit insurance Act (12 U.S.C. 1813(q)), the National Credit Union Administration, or the Office of Federal Housing Enterprise Oversight, in connection with the implementation of monetary policy or to ensure the safety and soundness of federally insured depository institutions, any affiliate of such an institution, credit unions, or government sponsored housing enterprises or to protect the Federal deposit insurance funds shall not be subject to the requirements of this subsection.&apos;&apos;. (b) Conforming Amendment.--Section 603(a) of title 5, United States Code, is amended by inserting ``in accordance with section 612(d)&apos;&apos; before the period at the end of the last sentence. SEC. 103. SENSE OF CONGRESS REGARDING SBA CHIEF COUNSEL FOR ADVOCACY.</subtitle>
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    <abstract>The Committee on the Judiciary, to whom was referred the bill (H.R. 926) to promote regulatory flexibility and enhance public participation in Federal agency rulemaking and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass.</abstract>
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         <recommendation>The Committee on the Judiciary, to whom was referred the bill (H.R. 926) to promote regulatory flexibility and enhance public participation in Federal agency rulemaking and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass.</recommendation>
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