II 

113TH CONGRESS 

1ST SESSION S. 786 

To require agencies to quantify costs associated with proposed economically 

significant regulations, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

APRIL 23, 2013 

Mr. ROBERTS introduced the following bill; which was read twice and referred 

to the Committee on Homeland Security and Governmental Affairs 

A BILL 

To require agencies to quantify costs associated with proposed economically significant regulations, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Restoring Honesty for 

5 our Economy Act’’. 

6 SEC. 2. DEFINITIONS. 

7 In this Act— 

8 (1) the term ‘‘agency’’ means any authority of 

9 the United States that is— 


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1 (A) an agency as defined under section 

2 3502(1) of title 44, United States Code; and 

3 (B) shall include an independent regu4 latory agency as defined under section 3502(5) 

5 of title 44, United States Code; 

6 (2) the term ‘‘regulation’’— 

7 (A) means an agency statement of general 

8 applicability and future effect, which the agency 

9 intends to have the force and effect of law, that 

10 is designed to implement, interpret, or prescribe 

11 law or policy or to describe the procedure or 

12 practice requirements of an agency; and 

13 (B) shall not include— 

14 (i) a regulation issued in accordance 

15 with the formal rulemaking provisions of 

16 sections 556 and 557 of title 5, United 

17 States Code; 

18 (ii) a regulation that pertains to a 

19 military or foreign affairs function of the 

20 United States, other than procurement 

21 regulations and regulations involving the 

22 import or export of non-defense articles 

23 and services; or 


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1 (iii) a regulation that is limited to 

2 agency organization, management, or per3 sonnel matters; and 

4 (3) the term ‘‘economically significant regula5 tion’’ means any regulation that— 

6 (A) has an annual effect on the economy 

7 of $100,000,000 or more; or 

8 (B) adversely affects in a material way the 

9 economy, a sector of the economy, productivity, 

10 competition, jobs, the environment, public 

11 health or safety, or State, local, or tribal gov12 ernments or communities. 

13 SEC. 3. FINALIZATION OF PROPOSED ECONOMICALLY SIG14 NIFICANT REGULATIONS. 

15 A proposed economically significant regulation may 

16 not be finalized unless the proposed economically signifi17 cant regulation— 

18 (1) identifies and quantifies all costs associated 

19 with the proposed economically significant regula20 tion; or 

21 (2) describes why it is not possible for the agen22 cy to identify or quantify all costs associated with 

23 the proposed economically significant regulation. 


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1 SEC. 4. JUDICIAL REVIEW. 

2 Any person may file a petition for judicial review of 

3 the agency action required under section 3 within the 

4 United States Court of Appeals for the District of Colum5 bia Circuit or for the circuit in which such person resides 

6 or in which such person’s principal place of business is 

7 located. Courts of appeals of the United States shall have 

8 exclusive jurisdiction of any action to obtain judicial re9 view (other than in an enforcement proceeding) of such 

10 an action if any district court of the United States would 

11 have had jurisdiction of such action but for this section. 

Æ 


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