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[106th Congress Public Law 312]
[From the U.S. Government Printing Office]

<DOC>
[DOCID: f:publ312.106]

[[Page 1247]]

                     TRUTH IN REGULATING ACT OF 2000

[[Page 114 STAT. 1248]]

Public Law 106-312
106th Congress

                                 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. <<NOTE: Oct. 17, 2000 -  [S. 1198]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress <<NOTE: Truth in Regulating Act of 
2000. 5 USC 801 note.>> assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Truth in Regulating Act of 2000''.

SEC. 2. <<NOTE: 5 USC 801 note.>> 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. <<NOTE: 5 USC 801 note.>> 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. <<NOTE: 5 USC 801 note.>> 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

[[Page 114 STAT. 1249]]

        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) <<NOTE: Deadline.>> 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. <<NOTE: 5 USC 801 note.>> 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. <<NOTE: 5 USC 801 note.>> 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.

[[Page 114 STAT. 1250]]

    (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.

    Approved October 17, 2000.

LEGISLATIVE HISTORY--S. 1198:
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SENATE REPORTS: No. 106-225 (Comm. on Governmental Affairs).
CONGRESSIONAL RECORD, Vol. 146 (2000):
            May 9, considered and passed Senate.
            Oct. 3, considered and passed House.

                                  <all>
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