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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 4264 Introduced in Senate (IS)]

<DOC>

118th CONGRESS
  2d Session
                                S. 4264

 To amend title 5, United States Code, to improve the effectiveness of 
 major rules in accomplishing their regulatory objectives by promoting 
             retrospective review, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                              May 2, 2024

 Ms. Sinema (for herself, Mr. Lankford, Mr. Manchin, and Mrs. Capito) 
introduced the following bill; which was read twice and referred to the 
        Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL

 
 To amend title 5, United States Code, to improve the effectiveness of 
 major rules in accomplishing their regulatory objectives by promoting 
             retrospective review, 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 ``Setting Manageable Analysis 
Requirements in Text Act of 2024'' or the ``SMART Act of 2024''.

SEC. 2. INCORPORATING RETROSPECTIVE REVIEW INTO NEW MAJOR RULES.

    (a) In General.--Subchapter II of chapter 5 of title 5, United 
States Code, is amended--
            (1) in section 551--
                    (A) in paragraph (13), by striking ``and'' at the 
                end;
                    (B) in paragraph (14), by striking the period at 
                the end and inserting a semicolon; and
                    (C) by adding at the end the following:
            ``(15) `Administrator' means the Administrator of the 
        Office of Information and Regulatory Affairs of the Office of 
        Management and Budget established under section 3503 of title 
        44 and any successor to that office; and
            ``(16) `major rule' means any rule that the Administrator 
        finds has resulted in or is likely to result in--
                    ``(A) an annual effect on the economy of 
                $100,000,000 or more;
                    ``(B) a major increase in costs or prices for 
                consumers, individual industries, Federal, State, or 
                local government agencies, or geographic regions; or
                    ``(C) significant adverse effects on competition, 
                employment, investment, productivity, innovation, 
                health, safety, the environment, or the ability of 
                United States-based enterprises to compete with 
                foreign-based enterprises in domestic and export 
                markets.''; and
            (2) in section 553, by adding at the end the following:
    ``(f) Major Rule Frameworks.--
            ``(1) In general.--On and after the date that is 1 year 
        after the date of enactment of this subsection--
                    ``(A) with respect to a proposed rule published by 
                an agency in the Federal Register that the agency 
                reasonably expects would meet the definition of a major 
                rule, the agency shall include a potential framework 
                for assessing the implemented rule, which shall include 
                a general statement of how the agency intends to 
                measure the effectiveness of the rule; and
                    ``(B) with respect to a final major rule published 
                by an agency in the Federal Register, including a major 
                rule that the agency did not initially reasonably 
                expect would meet the definition of a major rule under 
                subparagraph (A), the agency shall include a framework 
                for assessing the major rule under paragraph (2), which 
                shall include--
                            ``(i) a statement of the regulatory 
                        objectives of the major rule, including a 
                        summary of the societal benefit and cost of the 
                        major rule;
                            ``(ii) the methodology by which the agency 
                        plans to analyze the qualitative and 
                        quantitative outcomes of the major rule so that 
                        the agency can assess--
                                    ``(I) the effectiveness and 
                                benefits of the major rule in producing 
                                the regulatory objectives of the major 
                                rule; and
                                    ``(II) the effects and costs of the 
                                major rule on regulated and other 
                                affected entities;
                            ``(iii) a plan for gathering data, 
                        including public input, regarding the 
                        methodology described in clause (ii) on an 
                        ongoing basis or at periodic times; and
                            ``(iv) a time frame, as appropriate to the 
                        major rule and not more than 10 years after the 
                        effective date of the major rule, under which 
                        the agency shall conduct the assessment of the 
                        major rule in accordance with paragraph (2)(A).
            ``(2) Assessment.--
                    ``(A) In general.--Each agency shall assess the 
                data gathered under paragraph (1)(B)(iii), using the 
                methodology set forth in paragraph (1)(B)(ii) or any 
                other appropriate methodology developed after the 
                issuance of a final major rule--
                            ``(i) to analyze how the actual benefits 
                        and costs of the major rule may have varied 
                        from those anticipated at the time the major 
                        rule was issued; and
                            ``(ii) to determine whether--
                                    ``(I) the major rule is 
                                accomplishing the regulatory objective 
                                of the major rule;
                                    ``(II) the major rule has been 
                                rendered unnecessary, taking into 
                                consideration--
                                            ``(aa) changes in the 
                                        subject area affected by the 
                                        major rule; and
                                            ``(bb) whether the major 
                                        rule overlaps with, duplicates, 
                                        or conflicts with other rules 
                                        or, to the extent feasible, 
                                        State and local government 
                                        regulations;
                                    ``(III) the major rule needs to be 
                                expanded, streamlined, or otherwise 
                                modified in order to accomplish the 
                                regulatory objective of the major rule; 
                                and
                                    ``(IV) other alternatives to the 
                                major rule or a modification of the 
                                major rule could better achieve the 
                                regulatory objective of the major rule 
                                by increasing the benefits of the major 
                                rule or imposing a smaller burden on 
                                society, or both, taking into 
                                consideration any changes in the 
                                regulatory environment that may have 
                                made the major rule more or less 
                                necessary or effective, and any cost 
                                already incurred.
                    ``(B) Different methodology.--If an agency uses a 
                methodology other than the methodology set forth in 
                paragraph (1)(B)(ii) to assess data under subparagraph 
                (A), the agency shall include notification of the 
                revised methodology and an explanation of the changes 
                in circumstances that necessitated the use of that 
                other methodology as part of the notice required under 
                subparagraph (D).
                    ``(C) Subsequent assessments.--If, after an 
                assessment of a major rule under subparagraph (A), an 
                agency determines that the major rule will remain in 
                effect with or without modification, the agency shall, 
                in consultation with the Administrator, include with 
                the assessment produced under subparagraph (A) a list 
                of circumstances or events that would necessitate a 
                subsequent review in accordance with subparagraph (A) 
                to ensure that the major rule continues to meet the 
                regulatory objective of the major rule.
                    ``(D) Publication.--Not later than 180 days after 
                the date on which an agency completes an assessment of 
                a major rule under subparagraph (A), the agency shall 
                publish prominently on the website of the agency the 
                results of the assessment, including the circumstances 
                or events that would necessitate a subsequent 
                assessment of the major rule under subparagraph (C).
            ``(3) Agency head responsibilities.--The head of each 
        agency shall--
                    ``(A) oversee the timely compliance of the agency 
                with this subsection; and
                    ``(B) ensure that the results of each assessment 
                conducted under paragraph (2) are published promptly in 
                accordance with paragraph (2)(D).
            ``(4) OMB oversight.--The Administrator shall--
                    ``(A) issue guidance for agencies regarding the 
                development of the framework under paragraph (1) and 
                the conduct of the assessments under paragraph (2)(A);
                    ``(B) encourage and assist agencies to streamline 
                and coordinate the assessment of major rules with 
                similar or related regulatory objectives;
                    ``(C) exempt an agency from including the framework 
                required under paragraph (1)(B) when publishing a final 
                major rule, if--
                            ``(i) the agency did not issue a notice of 
                        proposed rule making for the major rule in 
                        order to provide a timely response to an 
                        emergency or comply with a statutorily imposed 
                        deadline, in accordance with paragraph (6)(B); 
                        or
                            ``(ii) the Administrator determines that--
                                    ``(I) the major final rule falls 
                                within a category of major rules that 
                                are routine or periodic in nature, 
                                including those issued on an annual 
                                basis in order to put in place annual 
                                spending programs; or
                                    ``(II) for any other reason, the 
                                conduct of an assessment would be 
                                impracticable, unnecessary, or contrary 
                                to the public interest; and
                    ``(D) extend the deadline specified by an agency 
                for an assessment of a major rule under paragraph 
                (1)(B)(iv) or paragraph (2)(C) for a period of not more 
                than 90 days if the agency justifies why the agency is 
                unable to complete the assessment by that deadline.
            ``(5) Rule of construction.--Nothing in this subsection may 
        be construed to affect--
                    ``(A) the authority of an agency to assess or 
                modify a major rule of the agency earlier than the end 
                of the time frame specified for the major rule under 
                paragraph (1)(B)(iv); or
                    ``(B) any other provision of law that requires an 
                agency to conduct retrospective reviews of rules issued 
                by the agency.
            ``(6) Applicability.--
                    ``(A) In general.--This subsection shall not apply 
                to--
                            ``(i) a major rule of an agency--
                                    ``(I) that the Administrator 
                                reviewed before the date of enactment 
                                of this subsection;
                                    ``(II) for which the agency is 
                                required to conduct a retrospective 
                                review under--
                                            ``(aa) section 2222 of the 
                                        Economic Growth and Regulatory 
                                        Paperwork Reduction Act of 1996 
                                        (12 U.S.C. 3311);
                                            ``(bb) section 170(d) of 
                                        the Financial Stability Act of 
                                        2010 (12 U.S.C. 5370(d)); or
                                            ``(cc) any other provision 
                                        of law with requirements that 
                                        the Administrator determines--

                                                    ``(AA) include 
                                                robust public 
                                                participation;

                                                    ``(BB) include 
                                                significant agency 
                                                consideration and 
                                                analysis of whether the 
                                                rule is achieving the 
                                                regulatory objective of 
                                                the rule; and

                                                    ``(CC) meet, are 
                                                substantially similar 
                                                to, or exceed the 
                                                requirements of this 
                                                subsection;

                                    ``(III) for which the authorizing 
                                statute of the rule is subject to 
                                periodic authorization by Congress not 
                                less frequently than once every 10 
                                years; or
                                    ``(IV) for which the authorizing 
                                statute of the rule requires the 
                                promulgation of a new or revised rule 
                                not less frequently than once every 10 
                                years; or
                            ``(ii) interpretative rules, general 
                        statements of policy, or rules of agency 
                        organization, procedure, or practice.
                    ``(B) Good cause exemption.--In the case of a major 
                rule for which an agency has not issued a notice of 
                proposed rule making, the agency shall publish the 
                framework required under paragraph (1)(B) in the 
                Federal Register not later than 6 months after the date 
                on which the agency publishes the final major rule.
            ``(7) Judicial review.--
                    ``(A) In general.--Judicial review of agency 
                compliance with this subsection--
                            ``(i) shall be strictly limited to--
                                    ``(I) whether an agency published 
                                the framework for assessment of a major 
                                rule described in paragraph (1); or
                                    ``(II) whether an agency published 
                                the assessment or subsequent assessment 
                                of a major rule described in 
                                subparagraphs (A), (C), and (D) of 
                                paragraph (2); and
                            ``(ii) shall not include a substantive 
                        review of the framework, assessment, or action 
                        of an agency under this subsection.
                    ``(B) Remedy available.--In granting relief in an 
                action brought under subparagraph (A), a court may only 
                issue an order remanding the major rule to the agency 
                to comply with paragraph (1) or subparagraph (A), (C), 
                or (D) of paragraph (2), as applicable.
                    ``(C) Effective date of major rule.--If, in an 
                action brought under subparagraph (A)(i), a court 
                determines that the agency did not comply, the major 
                rule shall take effect notwithstanding any order issued 
                by the court.
                    ``(D) Administrator.--Any determination, action, or 
                inaction of the Administrator shall not be subject to 
                judicial review.''.
    (b) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as may be necessary to carry out the amendments 
made by subsection (a).
                                 <all>
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