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[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1074 Introduced in House (IH)]

106th CONGRESS
  1st Session
                                H. R. 1074

To provide Governmentwide accounting of regulatory costs and benefits, 
                        and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             March 11, 1999

 Mr. Bliley (for himself, Mr. McIntosh, Mr. Condit, Mr. Stenholm, Mr. 
   Shuster, Mr. Pickett, Mr. Goode, Mr. Hall of Texas, Mr. John, Mr. 
 Turner, Mr. English, Mr. Goodlatte, Mr. Armey, Mr. DeLay, Mr. Cramer, 
  Mr. Gillmor, Mr. Oxley, Mr. Largent, Mr. Archer, Mr. Manzullo, Mr. 
Sandlin, Mr. Watts of Oklahoma, Mr. Gekas, Mr. Barcia, Mr. Bishop, Mr. 
Boyd, Mr. Clement, Mr. Ford, Mr. Shows, Mr. Tanner, and Mr. Traficant) 
 introduced the following bill; which was referred to the Committee on 
                           Government Reform

_______________________________________________________________________

                                 A BILL

 
To provide Governmentwide accounting of regulatory costs and benefits, 
                        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 ``Regulatory Right-to-Know Act of 
1999''.

SEC. 2. PURPOSES.

    The purposes of this Act are to--
            (1) promote the public right-to-know about the costs and 
        benefits of Federal regulatory programs and rules;
            (2) increase Government accountability; and
            (3) improve the quality of Federal regulatory programs and 
        rules.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) In general.--Except as otherwise provided in this 
        section, the definitions under section 551 of title 5, United 
        States Code, shall apply to this Act.
            (2) Benefit.--The term ``benefit'' means the reasonably 
        identifiable significant favorable effects, quantifiable and 
        nonquantifiable, including social, health, safety, 
        environmental, and economic effects, that are expected to 
        result from implementation of, or compliance with, a rule.
            (3) Cost.--The term ``cost'' means the reasonably 
        identifiable significant adverse effects, quantifiable and 
        nonquantifiable, including social, health, safety, 
        environmental, and economic effects, that are expected to 
        result from implementation of, or compliance with, a rule.
            (4) Director.--The term ``Director'' means the Director of 
        the Office of Management and Budget.
            (5) Major rule.--The term ``major rule'' means any rule as 
        that term is defined under section 804(2) of title 5, United 
        States Code.
            (6) Paperwork.--The term ``paperwork'' has the meaning 
        given the term ``collection of information'' under section 3502 
        of title 44, United States Code.
            (7) Program component.--The term ``program component'' 
        means a set of related rules.

SEC. 4. ACCOUNTING STATEMENT.

    (a) In General.--Not later than February 5, 2001, and on the first 
Monday in February of each year thereafter, the President, acting 
through the Director of the Office of Management and Budget, shall 
prepare and submit to the Congress an accounting statement and 
associated report containing--
            (1) an estimate of the total annual costs and benefits of 
        Federal regulatory programs, including rules and paperwork--
                    (A) in the aggregate;
                    (B) by agency, agency program, and program 
                component; and
                    (C) by major rule;
            (2) an analysis of direct and indirect impacts of Federal 
        rules and paperwork on Federal, State, local, and tribal 
        government, the private sector, small business, wages, consumer 
        prices, productivity, economic growth, and distributional 
        effects;
            (3) an identification and analysis of overlaps, 
        duplications, and potential inconsistencies among Federal 
        regulatory programs; and
            (4) recommendations to reform inefficient or ineffective 
        regulatory programs or program components.
    (b) Net Benefits and Costs.--To the extent feasible, the Director 
shall, in estimates contained in any submission under subsection 
(a)(1), quantify the net benefits or net costs of--
            (1) each program component covered by the submission;
            (2) each major rule covered by the submission; and
            (3) each option for which costs and benefits were included 
        in any regulatory impact analysis issued for any major rule 
        covered by the submission.
    (c) Summary of Regulatory Activity.--The Director shall include in 
each submission under subsection (a)(1) a table stating the number of 
major rules and the number of nonmajor rules issued by each agency in 
the preceding fiscal year.
    (d) Years Covered by Accounting Statement.--Each accounting 
statement submitted under this section shall, at a minimum--
            (1) cover expected costs and benefits for the fiscal year 
        for which the statement is submitted and each of the 4 fiscal 
        years following that fiscal year;
            (2) cover previously expected costs and benefits for each 
        of the 2 fiscal years preceding the fiscal year for which the 
        statement is submitted, or the most recent revision of such 
        costs and benefits; and
            (3) with respect to each major rule, include the estimates 
        of costs and benefits for each of the fiscal years referred to 
        in paragraphs (1) and (2) that were included in the regulatory 
        impact analysis that was prepared for the major rule.

SEC. 5. NOTICE AND COMMENT.

    (a) In General.--Before submitting an accounting statement and the 
associated report to Congress under section 4, and before preparing 
final guidelines under section 6, the Director of the Office of 
Management and Budget shall--
            (1) provide public notice and an opportunity of at least 60 
        days for submission of comments on the statement and report or 
        guidelines, respectively; and
            (2) consult with the Director of the Congressional Budget 
        Office on the statement and report or guidelines, respectively.
    (b) Appendix.--After consideration of the comments, the Director 
shall include an appendix to the report or guidelines, respectively, 
addressing the public comments and peer review comments under section 
7.

SEC. 6. GUIDELINES FROM THE OFFICE OF MANAGEMENT AND BUDGET.

    (a) In General.--Not later than 270 days after the date of 
enactment of this Act, the Director of the Office of Management and 
Budget, in consultation with the Council of Economic Advisors, shall 
issue guidelines to agencies to standardize--
            (1) most plausible measures of costs and benefits; and
            (2) the format of information provided for accounting 
        statements.
    (b) Review.--The Director shall review submissions from the 
agencies to ensure consistency with the guidelines under this section.

SEC. 7. PEER REVIEW.

    (a) In General.--The Director of the Office of Management and 
Budget shall arrange for 2 or more organizations that have nationally 
recognized expertise in regulatory analysis and regulatory accounting 
and that are independent of and external to the Government, to provide 
peer review of each accounting statement and associated report under 
section 4 and the guidelines under section 6 before the statement, 
report, or guidelines are final.
    (b) Written Comments.--The peer review under this section shall 
provide written comments to the Director in a timely manner. The 
Director shall use the peer review comments in preparing the final 
statements, associated reports, and guidelines.
    (c) FACA.--Peer review under this section shall not be subject to 
the Federal Advisory Committee Act (5 U.S.C. App.).
                                 <all>
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