S. 1198

One Hundred Sixth Congress

of the

United States of America

AT THE SECOND SESSION

Begun and held at the City of Washington on Monday,

the twenty-fourth day of January, two thousand

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.

Be it enacted by the Senate and House of Representatives of

the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘‘Truth in Regulating Act of

2000’’.

SEC. 2. 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. 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. 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
S. 1198—2

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) 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. 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. 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.
S. 1198—3

(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.

Speaker of the House of Representatives.

Vice President of the United States and

President of the Senate.