SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Regulatory Reform Act of 2012''.

SEC. 2. FEDERAL REGULATORY REFORM REPORT.

    (a) In General.--Subchapter I of chapter 35 of title 44, United 
States Code, is amended by--
            (1) redesignating section 3521 as section 3522; and
            (2) by inserting after section 3520 the following new 
        section:
``Sec. 3521. Federal Regulatory Reform Report
    ``(a) Report Required.--Not later than October 1 every four years, 
beginning with the first year following the date of the enactment of 
the Regulatory Reform Act of 2012, the Administrator of the Office of 
Information and Regulatory Affairs shall make available on a publicly 
available website and submit to Congress a report on Federal regulatory 
reform (in this section referred to as the `Federal Regulatory Reform 
Report').
    ``(b) Contents of Report.--The Federal Regulatory Reform Report 
shall contain the following:
            ``(1) A list of rules that are determined to be outmoded, 
        duplicative, ineffective, or excessively burdensome.
            ``(2) A list of recommendations to consolidate, modify, 
        simplify, or repeal such rules to make such rules more 
        effective or less burdensome.
            ``(3) A description of the justification for (including 
        supporting data) and impact of the recommendations described in 
        paragraph (2), as appropriate and available.
            ``(4) For any rule listed under paragraph (2), an analysis 
        of how the costs outweigh the benefits for such rule. The 
        benefits for such analysis shall include environmental and 
        public health considerations and other considerations with 
        regard to the benefits that the Administrator determines are 
        appropriate.
    ``(c) Resources for Report.--The Administrator shall use any of the 
following sources to prepare the Federal Regulatory Reform Report:
            ``(1) Agency action plans.
            ``(2) Executive Order 12866 (5 U.S.C. 601 note; relating to 
        regulatory planning and review).
            ``(3) Executive Order 13563 (76 Fed. Reg. 3812; relating to 
        improving regulation and regulatory review).
            ``(4) The Office of Management and Budget Circular A-4.
            ``(5) The Office of Management and Budget Annual report to 
        Congress required by section 624(a) of Public Law 106-554 (31 
        U.S.C. 1105 note).
            ``(6) Any other appropriate report, analysis, and review of 
        the executive and legislative branch.
    ``(d) Notice and Comment.--At least 60 days before submission of 
the Federal Regulatory Reform Report required under subsection (a), the 
Administrator of the Office of Information and Regulatory Affairs shall 
publish the report in the Federal Register for public notice and 
comment. The Administrator may modify the report in response to any 
comments received before submission of the report to Congress.
    ``(e) Consultation Required.--The Administrator of the Office of 
Information and Regulatory Affairs shall consult with the President, 
the Director of the Office of Management and Budget, the Chief 
Performance Officer of the Office of Management and Budget, and the 
relevant committees of jurisdiction of the House of Representatives and 
the Senate before the submission of the Federal Regulatory Reform 
Report required under subsection (a).
    ``(f) Presentation of Federal Regulatory Reform Report to Congress 
and Expedited Consideration.--
            ``(1) In general.--The President shall propose, at the time 
        and in the manner provided in paragraph (2), the carrying out 
        of all or part of the recommendations contained in the most 
        recent Federal Regulatory Reform Report prepared by the Office 
        of Information and Regulatory Affairs.
            ``(2) Transmittal of special message.--Not later than 120 
        days after the submission of a Federal Regulatory Reform Report 
        under subsection (a), the President shall transmit to Congress 
        a special message to carry out all or part of the 
        recommendations contained in that Federal Regulatory Reform 
        Report. The President shall include with that special message a 
        bill that would carry out the recommendations. The President 
        may not transmit more than one such special message each year.
            ``(3) Expedited consideration of president's regulatory 
        reform bill.--
                    ``(A) Regulatory reform bill.--Within 14 days after 
                the President submits to Congress a bill under 
                paragraph (2), the majority leader of the House of 
                Representatives and the majority leader of the Senate 
                shall each introduce such bill, by request.
                    ``(B) Consideration in the house of 
                representatives.--
                            ``(i) Referral and reporting.--Any 
                        committee of the House of Representatives to 
                        which such bill is referred shall report it to 
                        the House without amendment not later than the 
                        14th legislative day after the date of its 
                        introduction. If a committee fails to report 
                        the bill within that period or the House has 
                        adopted a concurrent resolution providing for 
                        adjournment sine die at the end of a Congress, 
                        such committee shall be automatically 
                        discharged from further consideration of the 
                        bill and it shall be placed on the appropriate 
                        calendar.
                            ``(ii) Proceeding to consideration.--Not 
                        later than 21 legislative days after such bill 
                        is reported or a committee has been discharged 
                        from further consideration thereof, it shall be 
                        in order to move to proceed to consider such 
                        bill in the House. Such a motion shall be 
                        highly privileged and not debatable, and shall 
                        be in order only at a time designated by the 
                        Speaker in the legislative schedule within two 
                        legislative days after the day on which the 
                        proponent announces an intention to the House 
                        to offer the motion provided that such notice 
                        may not be given until such bill is reported or 
                        a committee has been discharged from further 
                        consideration thereof. Such a motion shall not 
                        be in order after the House has disposed of a 
                        motion to proceed with respect to that special 
                        message. The previous question shall be 
                        considered as ordered on the motion to its 
                        adoption without intervening motion. A motion 
                        to reconsider the vote by which the motion is 
                        disposed of shall not be in order.
                            ``(iii) Consideration.--If the motion to 
                        proceed is agreed to, the House shall 
                        immediately proceed to consider such bill in 
                        the House without intervening motion. Such bill 
                        shall be considered as read. All points of 
                        order against the bill and against its 
                        consideration are waived. The previous question 
                        shall be considered as ordered on the bill to 
                        its passage without intervening motion except 4 
                        hours of debate equally divided and controlled 
                        by the proponent and an opponent and one motion 
                        to limit debate on the bill. A motion to 
                        reconsider the vote on passage of the bill 
                        shall not be in order.
                    ``(C) Consideration in the senate.--
                            ``(i) Committee action.--The appropriate 
                        committee of the Senate shall report without 
                        amendment the bill referred to in subparagraph 
                        (A) not later than the seventh session day 
                        after introduction. If a committee fails to 
                        report the bill within that period or the 
                        Senate has adopted a concurrent resolution 
                        providing for adjournment sine die at the end 
                        of a Congress, the Committee shall be 
                        automatically discharged from further 
                        consideration of the bill and it shall be 
                        placed on the appropriate calendar.
                            ``(ii) Motion to proceed.--Not later than 3 
                        session days after the bill is reported in the 
                        Senate or the committee has been discharged 
                        thereof, it shall be in order for any Senator 
                        to move to proceed to consider the bill in the 
                        Senate. The motion shall be decided without 
                        debate and the motion to reconsider shall be 
                        deemed to have been laid on the table. Such a 
                        motion shall not be in order after the Senate 
                        has disposed of a prior motion to proceed with 
                        respect to the draft bill.
                            ``(iii) Consideration.--If a motion to 
                        proceed to the consideration of the draft bill 
                        is agreed to, the Senate shall immediately 
                        proceed to consideration of the draft bill 
                        without intervening motion, order, or other 
                        business, and the draft bill shall remain the 
                        unfinished business of the Senate until 
                        disposed of. Consideration on the bill in the 
                        Senate under this subsection, and all debatable 
                        motions and appeals in connection therewith, 
                        shall not exceed 10 hours equally divided in 
                        the usual form. All points of order against the 
                        draft bill or its consideration are waived. 
                        Consideration in the Senate on any debatable 
                        motion or appeal in connection with the draft 
                        bill shall be limited to not more than 10 
                        hours. A motion to postpone, or a motion to 
                        proceed to the consideration of other business, 
                        or a motion to recommit the draft bill is not 
                        in order. A motion to reconsider the vote by 
                        which the draft bill is agreed to or disagreed 
                        to is not in order.
                    ``(D) Amendments prohibited.--No amendment to, or 
                motion to strike a provision from, the draft bill 
                considered under this section shall be in order in 
                either the Senate or the House of Representatives.
                    ``(E) Coordination with action by other house.--If, 
                before passing the bill, one House receives from the 
                other a bill--
                            ``(i) the bill of the other House shall not 
                        be referred to a committee; and
                            ``(ii) the procedure in the receiving House 
                        shall be the same as if no bill had been 
                        received from the other House until the vote on 
                        passage, when the bill received from the other 
                        House shall supplant the bill of the receiving 
                        House.
                    ``(F) Limitation.--This paragraph shall apply only 
                to the bill referred to in subparagraph (A), introduced 
                pursuant to such subparagraph.
    ``(g) Definitions.--For purposes of this section, continuity of a 
session of either House of Congress shall be considered as broken only 
by an adjournment of that House sine die, and the days on which that 
House is not in session because of an adjournment of more than 3 days 
to a date certain shall be excluded in the computation of any 
period.''.
    (b) Technical and Conforming Amendment.--The table of sections for 
chapter 35 of title 44, United States Code, is amended by striking the 
matter relating to section 3521 and inserting the following:

``3521. Federal Regulatory Reform Report.
``3522. Authorization of Appropriations.''.
Regulatory Reform Act of 2012 - Directs the Administrator of the Office of Information and Regulatory Affairs in the Office of Management and Budget (OMB), not later than October 1 every four years, to post online and submit to Congress a report to be known as the Federal Regulatory Reform Report. Requires such Report to contain: (1) a list of rules that are determined to be outmoded, duplicative, ineffective, or excessively burdensome; (2) a list of recommendations to consolidate, modify, simplify, or repeal such rules and a description of the justification for and impact of such recommendations; and (3) an analysis of how the costs of such rules outweigh their benefits.

Directs the Administrator to: (1) use certain resources such as agency action plans, agency reports, and executive orders in preparing the Report; (2) publish the Report in the Federal Register for public notice and comment at least 60 days before its submission to Congress; and (3) consult with the President, relevant committees of Congress, and other federal officials before submitting the Report.

Requires the President to submit to Congress a legislative proposal for carrying out all or some of the recommendations contained in the Report. Sets forth congressional procedures for consideration of the President's proposal.
To establish procedures for the presentation and expedited consideration by Congress of the recommendations in the Federal Regulatory Reform Report prepared by the Office of Information and Regulatory Affairs, and for other purposes.