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Title: Regulations from the Executive in Need of Scrutiny Act of 2017
Vote Smart's Synopsis:
Vote to pass a bill that requires all major rules proposed by executive agencies to be approved by Congress in a joint resolution.
Highlights:
- Requires executive agencies, after promulgating a new rule, submit the following materials to Congress for approval (Sec. 3):
- The text of the proposed rule;
- A “concise general statement” regarding the substance and purpose of the proposed rule;
- A classification of the proposed rule as either major or nonmajor and an explanation of this classification;
- A list of any related regulatory intentions; and
- The proposed effective date of the proposed rule.
- Requires executive agencies, after promulgating a new rule, submit to the Comptroller General materials including, but not limited to, the following (Sec. 3):
- A cost-benefit analysis of the proposed rule; and
- An assessment of whether the proposed rule imposes new limits or mandates on the private sector.
- Requires that all new rules proposed by executive agencies be approved by Congress through a joint resolution within 70 days of the rule’s submission (Sec. 3).
- Specifies that if a proposed rule is not approved by Congress within the 70 day period that the proposed rule is to be considered disapproved, and shall not take effect (Sec. 3).
- Specifies that if a proposed rule is not approved by Congress within the 70 day limit that the same Congress cannot consider the proposed rule in question (Sec. 3).
- Requires executive agencies, when submitting a new rule, also to provide a report on what existing rule will be repealed or amended and in what way in order for Congress to approve the proposed rule (Sec. 3).
- Requires executive agencies to present to Congress 10% of the agency’s existing regulations for review each year for the 10 years following the passage of this bill into law (Sec. 3).
- Specifies that if Congress has not passed a joint resolution of approval regarding any existing rule by the end of the 10 years period the rule shall be considered disapproved and cease to have effect.
- Defines “major rule” as any rule which has resulted in or is likely to result in the following (Sec. 3):
- An annual economic cost of $100,000,000 or more;
- A major increase in costs or prices for consumers or other groups; and
- Significant adverse effects on foreign or domestic competition, employment, investment, productivity, or innovation.
- Defines “nonmajor rule” as any rule which is not a major rule (Sec. 3).
- Requires executive agencies, when proposing rules, to publish in the Federal Register a list of information on which the proposed rule is based (Sec. 3).