Vote Smart's Synopsis:

Vote to pass a bill that establishes a Retrospective Regulatory Review Commission and outlines procedures for its operation.

Highlights:

• Establishes a Retrospective Regulatory Review Commission, for the purpose of determining whether executive agency regulations should be repealed, with the following specifications (Sec. 101):
• The Commission shall have 9 members appointed by the president;
• The majority and minority leaders of both chambers of Congress shall each present a list of candidates to the president, and the president shall choose 2 candidates from each list;
• The term of each member of the Commission ends 5 and a half years after the enactment of this bill; and
• The Commission must hold public meetings twice a year.

• Authorizes the Commission to subpoena anyone for testimony regarding a regulation and establishes a penalty of civil contempt for failure to obey such subpoena (Sec. 101).

• Establishes procedures for the operation of the Commission including, but not limited to, the following (Sec. 101):
• Requires the Commission to establish a methodology for selecting and reviewing regulations;
• The Commission shall focus on major rules that are 15 years or older;
• The Commission shall review rules that impose paperwork burdens or unfunded mandates; and
• The Commission shall review rules that “impose disproportionately high costs” on the economy.

• Defines “unfunded mandate” as having the same definition as given to “Federal mandate” in the Congressional Budget Act of 1974 (Sec. 101).

• Authorizes the president, members of Congress, employees and officers of federal, state, and local governments, and all members of the public to submit a rule for review to the Commission (Sec. 101).

• Specifies that no agency is required to repeal a rule or regulation based on a recommendation of the Commission unless Congress also passes a joint resolution requiring the repeal of the regulation (Sec. 1).

• Specifies that agencies cannot issue regulations that are substantially the same or result in the same adverse effect as a regulation that has been repealed based on a recommendation of the Commission (Sec. 1).

• Requires that agencies repeal regulations recommended by the Commission for repeal in order to enact new regulations, such that the cost of the new regulation will be offset by the repeal (Sec. 201).

• Authorizes agencies to apply the cost reductions achieved by voluntary repeal of regulations recommended by the Commission for repeal to the issuance of future regulations, such that the agency will not have to repeal a regulation concurrent with an issuance (Sec. 201).

• Requires agencies, when issuing a new regulation, to include a plan for review of that regulation within 10 years from the date of issuance (Sec. 301).

Full Bill Text

Full Bill Text