REINS Act of 2023

Subjects: Government Operations and Politics, Administrative law and regulatory procedures, Advanced technology and technological innovations, Budget deficits and national debt, Business investment and capital, Competition and antitrust, Competitiveness, trade promotion, trade deficits, Congressional oversight, Congressional-executive branch relations, Economic performance and conditions, Government information and archives, Government studies and investigations, Industrial policy and productivity, Inflation and prices, Judicial review and appeals, Legislative rules and procedure, Monetary policy, Unemployment

Summary:  <p><strong>Regulations from the Executive in Need of Scrutiny Act of 20</strong><b>23</b> <b>or the REINS Act of 2023</b></p> <p>This bill revises provisions relating to congressional review of agency rulemaking. </p> <p>Specifically, the bill establishes a&nbsp;congressional approval&nbsp;process for a major rule.&nbsp;A major rule may only take effect if Congress approves of the rule. A <i>major rule</i> is a rule that has resulted in or is likely to result in (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices for consumers, individual industries, government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based enterprises to compete with foreign-based enterprises. </p> <p>The bill generally preserves the current congressional review process for a nonmajor rule.</p>

<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 277 Introduced in House (IH)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                H. R. 277

  To amend chapter 8 of title 5, United States Code, to provide that 
   major rules of the executive branch shall have no force or effect 
       unless a joint resolution of approval is enacted into law.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 11, 2023

   Mrs. Cammack (for herself, Mr. Jordan, Mr. Comer, Mr. Emmer, Mr. 
Fulcher, Mr. Dunn of Florida, Mr. Finstad, Mr. Lamborn, Mr. Carl, Mrs. 
    Miller of Illinois, Mr. Bucshon, Mr. Joyce of Pennsylvania, Mr. 
 Reschenthaler, Mr. Buchanan, Mr. Obernolte, Mr. Jackson of Texas, Mr. 
    Mooney, Ms. Granger, Mr. Newhouse, Mr. Gimenez, Mrs. Lesko, Mr. 
    Williams of Texas, Mr. Massie, Mr. Austin Scott of Georgia, Mr. 
LaTurner, Mr. Clyde, Mr. Graves of Louisiana, Mrs. Hinson, Mrs. Rodgers 
of Washington, Mr. Crenshaw, Mrs. Miller-Meeks, Mr. Smith of Nebraska, 
   Mr. Arrington, Mr. Bacon, Mr. Perry, Mr. LaMalfa, Mr. Bentz, Mr. 
  Armstrong, Mr. Johnson of Louisiana, Mr. Cloud, Mr. Garbarino, Mr. 
 Banks, Mr. Tiffany, Mr. Burchett, Mr. Norman, Mr. Roy, Mr. Owens, Mr. 
Issa, Mr. Rutherford, Mr. Carter of Georgia, Mr. Burgess, Mr. Kelly of 
Mississippi, Mr. Palmer, Mr. Weber of Texas, Mr. Walberg, Mr. Barr, Mr. 
 Moore of Utah, Mr. Loudermilk, Mr. C. Scott Franklin of Florida, Ms. 
 Mace, Mrs. McClain, Mr. Balderson, Mrs. Steel, Mr. Biggs, Mrs. Greene 
  of Georgia, Mr. Bilirakis, Mr. Duncan, Mr. Bost, Mr. Feenstra, Mrs. 
 Spartz, Mr. Babin, Mr. Wittman, Mr. Steube, Mr. Stewart, Mr. Smucker, 
  Mrs. Boebert, Mr. Hudson, Mr. Buck, Mrs. Bice, Mrs. Fischbach, Mr. 
  Fallon, Mr. Steil, Mr. Mann, Mr. Rogers of Alabama, Mr. Murphy, Mr. 
 Donalds, Mr. Posey, Mr. Johnson of South Dakota, Mr. Wilson of South 
   Carolina, Mr. Nehls, Mr. Baird, Mr. Pfluger, Mr. Bishop of North 
 Carolina, Mr. Wenstrup, Mr. Hern, Ms. Tenney, Mr. Cline, Mr. Moore of 
  Alabama, Mr. Van Drew, Mr. McClintock, Mr. Green of Tennessee, Mr. 
Fitzgerald, Mr. Thompson of Pennsylvania, Mr. Mast, Mr. Rosendale, Mr. 
 Davidson, Mr. Gaetz, Mr. Gooden of Texas, Ms. Van Duyne, Mr. Bergman, 
Mr. Mike Garcia of California, Mr. Allen, Ms. De La Cruz, Mr. Valadao, 
Mr. Zinke, Mr. McCaul, Mr. DesJarlais, Mr. Nunn of Iowa, Mr. Huizenga, 
Mr. Timmons, Mr. Collins, Mr. Lawler, Mr. Smith of Missouri, Mrs. Luna, 
Mr. Tony Gonzales of Texas, Mr. Westerman, Mr. Ferguson, Miss Gonzalez-
  Colon, Mrs. Chavez-DeRemer, Mr. James, Mr. Estes, Mr. Crawford, Mr. 
McHenry, Ms. Lee of Florida, Mr. Harris, Mr. Sessions, Mr. Langworthy, 
 Mr. Meuser, Ms. Salazar, Mr. Diaz-Balart, Mr. Edwards, Mr. Ciscomani, 
Mr. Moran, Mr. Pence, Mr. Brecheen, Mr. Hill, Mr. Ezell, Mrs. Houchin, 
   Mr. McCormick, Mr. Luttrell, Mr. Alford, Mr. Johnson of Ohio, Mr. 
Rouzer, Mr. Burlison, Mr. Ellzey, Mr. Webster of Florida, Ms. Hageman, 
  Mr. Bean of Florida, Mr. Higgins of Louisiana, Mrs. Miller of West 
Virginia, Mr. Gallagher, Mr. Griffith, Mr. Good of Virginia, Mr. Miller 
  of Ohio, Mr. Mills, Mr. Lucas, Mr. Fleischmann, Mr. Moolenaar, Mr. 
LaHood, Ms. Foxx, Mr. Rogers of Kentucky, Mr. Flood, Mr. Grothman, Mr. 
  Van Orden, and Mr. Guest) introduced the following bill; which was 
  referred to the Committee on the Judiciary, and in addition to the 
 Committees on Rules, and the Budget, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
  To amend chapter 8 of title 5, United States Code, to provide that 
   major rules of the executive branch shall have no force or effect 
       unless a joint resolution of approval is enacted into law.

    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 ``Regulations from the Executive in 
Need of Scrutiny Act of 2023''.

SEC. 2. PURPOSE.

    The purpose of this Act is to increase accountability for and 
transparency in the Federal regulatory process. Section 1 of article I 
of the United States Constitution grants all legislative powers to 
Congress. Over time, Congress has excessively delegated its 
constitutional charge while failing to conduct appropriate oversight 
and retain accountability for the content of the laws it passes. By 
requiring a vote in Congress, the REINS Act will result in more 
carefully drafted and detailed legislation, an improved regulatory 
process, and a legislative branch that is truly accountable to the 
American people for the laws imposed upon them.

SEC. 3. CONGRESSIONAL REVIEW OF AGENCY RULEMAKING.

    Chapter 8 of title 5, United States Code, is amended to read as 
follows:

         ``CHAPTER 8--CONGRESSIONAL REVIEW OF AGENCY RULEMAKING

``Sec.
``801. Congressional review.
``802. Congressional approval procedure for major rules.
``803. Congressional disapproval procedure for nonmajor rules.
``804. Definitions.
``805. Judicial review.
``806. Exemption for monetary policy.
``807. Effective date of certain rules.
``Sec. 801. Congressional review
    ``(a)(1)(A) Before a rule may take effect, the Federal agency 
promulgating such rule shall publish in the Federal Register a list of 
information on which the rule is based, including data, scientific and 
economic studies, and cost-benefit analyses, and identify how the 
public can access such information online, and shall submit to each 
House of the Congress and to the Comptroller General a report 
containing--
            ``(i) a copy of the rule;
            ``(ii) a concise general statement relating to the rule;
            ``(iii) a classification of the rule as a major or nonmajor 
        rule, including an explanation of the classification 
        specifically addressing each criteria for a major rule 
        contained within subparagraphs (A) through (C) of section 
        804(2);
            ``(iv) a list of any other related regulatory actions 
        intended to implement the same statutory provision or 
        regulatory objective as well as the individual and aggregate 
        economic effects of those actions; and
            ``(v) the proposed effective date of the rule.
    ``(B) On the date of the submission of the report under 
subparagraph (A), the Federal agency promulgating the rule shall submit 
to the Comptroller General and make available to each House of 
Congress--
            ``(i) a complete copy of the cost-benefit analysis of the 
        rule, if any, including an analysis of any jobs added or lost, 
        differentiating between public and private sector jobs;
            ``(ii) the agency's actions pursuant to sections 603, 604, 
        605, 607, and 609 of this title;
            ``(iii) the agency's actions pursuant to sections 202, 203, 
        204, and 205 of the Unfunded Mandates Reform Act of 1995; and
            ``(iv) any other relevant information or requirements under 
        any other Act and any relevant Executive orders.
    ``(C) Upon receipt of a report submitted under subparagraph (A), 
each House shall provide copies of the report to the chairman and 
ranking member of each standing committee with jurisdiction under the 
rules of the House of Representatives or the Senate to report a bill to 
amend the provision of law under which the rule is issued.
    ``(2)(A) The Comptroller General shall provide a report on each 
major rule to the committees of jurisdiction by the end of 15 calendar 
days after the submission or publication date. The report of the 
Comptroller General shall include an assessment of the agency's 
compliance with procedural steps required by paragraph (1)(B) and an 
assessment of whether the major rule imposes any new limits or mandates 
on private-sector activity.
    ``(B) Federal agencies shall cooperate with the Comptroller General 
by providing information relevant to the Comptroller General's report 
under subparagraph (A).
    ``(3) A major rule relating to a report submitted under paragraph 
(1) shall take effect upon enactment of a joint resolution of approval 
described in section 802 or as provided for in the rule following 
enactment of a joint resolution of approval described in section 802, 
whichever is later.
    ``(4) A nonmajor rule shall take effect as provided by section 803 
after submission to Congress under paragraph (1).
    ``(5) If a joint resolution of approval relating to a major rule is 
not enacted within the period provided in subsection (b)(2), then a 
joint resolution of approval relating to the same rule may not be 
considered under this chapter in the same Congress by either the House 
of Representatives or the Senate.
    ``(b)(1) A major rule shall not take effect unless the Congress 
enacts a joint resolution of approval described under section 802.
    ``(2) If a joint resolution described in subsection (a) is not 
enacted into law by the end of 70 session days or legislative days, as 
applicable, beginning on the date on which the report referred to in 
subsection (a)(1)(A) is received by Congress (excluding days either 
House of Congress is adjourned for more than 3 days during a session of 
Congress), then the rule described in that resolution shall be deemed 
not to be approved and such rule shall not take effect.
    ``(c)(1) Notwithstanding any other provision of this section 
(except subject to paragraph (3)), a major rule may take effect for one 
90-calendar-day period if the President makes a determination under 
paragraph (2) and submits written notice of such determination to the 
Congress.
    ``(2) Paragraph (1) applies to a determination made by the 
President by Executive order that the major rule should take effect 
because such rule is--
            ``(A) necessary because of an imminent threat to health or 
        safety or other emergency;
            ``(B) necessary for the enforcement of criminal laws;
            ``(C) necessary for national security; or
            ``(D) issued pursuant to any statute implementing an 
        international trade agreement.
    ``(3) An exercise by the President of the authority under this 
subsection shall have no effect on the procedures under section 802.
    ``(d)(1) In addition to the opportunity for review otherwise 
provided under this chapter, in the case of any rule for which a report 
was submitted in accordance with subsection (a)(1)(A) during the period 
beginning on the date occurring--
            ``(A) in the case of the Senate, 60 session days; or
            ``(B) in the case of the House of Representatives, 60 
        legislative days,
before the date the Congress is scheduled to adjourn a session of 
Congress through the date on which the same or succeeding Congress 
first convenes its next session, sections 802 and 803 shall apply to 
such rule in the succeeding session of Congress.
    ``(2)(A) In applying sections 802 and 803 for purposes of such 
additional review, a rule described under paragraph (1) shall be 
treated as though--
            ``(i) such rule were published in the Federal Register on--
                    ``(I) in the case of the Senate, the 15th session 
                day; or
                    ``(II) in the case of the House of Representatives, 
                the 15th legislative day,
        after the succeeding session of Congress first convenes; and
            ``(ii) a report on such rule were submitted to Congress 
        under subsection (a)(1) on such date.
    ``(B) Nothing in this paragraph shall be construed to affect the 
requirement under subsection (a)(1) that a report shall be submitted to 
Congress before a rule can take effect.
    ``(3) A rule described under paragraph (1) shall take effect as 
otherwise provided by law (including other subsections of this 
section).
``Sec. 802. Congressional approval procedure for major rules
    ``(a)(1) For purposes of this section, the term `joint resolution' 
means only a joint resolution addressing a report classifying a rule as 
major pursuant to section 801(a)(1)(A)(iii) that--
            ``(A) bears no preamble;
            ``(B) bears the following title (with blanks filled as 
        appropriate): `Approving the rule submitted by ___ relating to 
        ___.';
            ``(C) includes after its resolving clause only the 
        following (with blanks filled as appropriate): `That Congress 
        approves the rule submitted by ___ relating to ___.'; and
            ``(D) is introduced pursuant to paragraph (2).
    ``(2) After a House of Congress receives a report classifying a 
rule as major pursuant to section 801(a)(1)(A)(iii), the majority 
leader of that House (or his or her respective designee) shall 
introduce (by request, if appropriate) a joint resolution described in 
paragraph (1)--
            ``(A) in the case of the House of Representatives, within 3 
        legislative days; and
            ``(B) in the case of the Senate, within 3 session days.
    ``(3) A joint resolution described in paragraph (1) shall not be 
subject to amendment at any stage of proceeding.
    ``(b) A joint resolution described in subsection (a) shall be 
referred in each House of Congress to the committees having 
jurisdiction over the provision of law under which the rule is issued.
    ``(c) In the Senate, if the committee or committees to which a 
joint resolution described in subsection (a) has been referred have not 
reported it at the end of 15 session days after its introduction, such 
committee or committees shall be automatically discharged from further 
consideration of the resolution and it shall be placed on the calendar. 
A vote on final passage of the resolution shall be taken on or before 
the close of the 15th session day after the resolution is reported by 
the committee or committees to which it was referred, or after such 
committee or committees have been discharged from further consideration 
of the resolution.
    ``(d)(1) In the Senate, when the committee or committees to which a 
joint resolution is referred have reported, or when a committee or 
committees are discharged (under subsection (c)) from further 
consideration of a joint resolution described in subsection (a), it is 
at any time thereafter in order (even though a previous motion to the 
same effect has been disagreed to) for a motion to proceed to the 
consideration of the joint resolution, and all points of order against 
the joint resolution (and against consideration of the joint 
resolution) are waived. The motion is not subject to amendment, or to a 
motion to postpone, or to a motion to proceed to the consideration of 
other business. A motion to reconsider the vote by which the motion is 
agreed to or disagreed to shall not be in order. If a motion to proceed 
to the consideration of the joint resolution is agreed to, the joint 
resolution shall remain the unfinished business of the Senate until 
disposed of.
    ``(2) In the Senate, debate on the joint resolution, and on all 
debatable motions and appeals in connection therewith, shall be limited 
to not more than 2 hours, which shall be divided equally between those 
favoring and those opposing the joint resolution. A motion to further 
limit debate is in order and not debatable. An amendment to, or a 
motion to postpone, or a motion to proceed to the consideration of 
other business, or a motion to recommit the joint resolution is not in 
order.
    ``(3) In the Senate, immediately following the conclusion of the 
debate on a joint resolution described in subsection (a), and a single 
quorum call at the conclusion of the debate if requested in accordance 
with the rules of the Senate, the vote on final passage of the joint 
resolution shall occur.
    ``(4) Appeals from the decisions of the Chair relating to the 
application of the rules of the Senate to the procedure relating to a 
joint resolution described in subsection (a) shall be decided without 
debate.
    ``(e) In the House of Representatives, if any committee to which a 
joint resolution described in subsection (a) has been referred has not 
reported it to the House at the end of 15 legislative days after its 
introduction, such committee shall be discharged from further 
consideration of the joint resolution, and it shall be placed on the 
appropriate calendar. On the second and fourth Thursdays of each month 
it shall be in order at any time for the Speaker to recognize a Member 
who favors passage of a joint resolution that has appeared on the 
calendar for at least 5 legislative days to call up that joint 
resolution for immediate consideration in the House without 
intervention of any point of order. When so called up a joint 
resolution shall be considered as read and shall be debatable for 1 
hour equally divided and controlled by the proponent and an opponent, 
and the previous question shall be considered as ordered to its passage 
without intervening motion. It shall not be in order to reconsider the 
vote on passage. If a vote on final passage of the joint resolution has 
not been taken by the third Thursday on which the Speaker may recognize 
a Member under this subsection, such vote shall be taken on that day.
    ``(f)(1) If, before passing a joint resolution described in 
subsection (a), one House receives from the other a joint resolution 
having the same text, then--
            ``(A) the joint resolution of the other House shall not be 
        referred to a committee; and
            ``(B) the procedure in the receiving House shall be the 
        same as if no joint resolution had been received from the other 
        House until the vote on passage, when the joint resolution 
        received from the other House shall supplant the joint 
        resolution of the receiving House.
    ``(2) This subsection shall not apply to the House of 
Representatives if the joint resolution received from the Senate is a 
revenue measure.
    ``(g) If either House has not taken a vote on final passage of the 
joint resolution by the last day of the period described in section 
801(b)(2), then such vote shall be taken on that day.
    ``(h) This section and section 803 are enacted by Congress--
            ``(1) as an exercise of the rulemaking power of the Senate 
        and House of Representatives, respectively, and as such are 
        deemed to be part of the rules of each House, respectively, but 
        applicable only with respect to the procedure to be followed in 
        that House in the case of a joint resolution described in 
        subsection (a) and superseding other rules only where 
        explicitly so; and
            ``(2) with full recognition of the constitutional right of 
        either House to change the rules (so far as they relate to the 
        procedure of that House) at any time, in the same manner and to 
        the same extent as in the case of any other rule of that House.
``Sec. 803. Congressional disapproval procedure for nonmajor rules
    ``(a) For purposes of this section, the term `joint resolution' 
means only a joint resolution introduced in the period beginning on the 
date on which the report referred to in section 801(a)(1)(A) is 
received by Congress and ending 60 days thereafter (excluding days 
either House of Congress is adjourned for more than 3 days during a 
session of Congress), the matter after the resolving clause of which is 
as follows: `That Congress disapproves the nonmajor rule submitted by 
the ___ relating to ___, and such rule shall have no force or effect.' 
(The blank spaces being appropriately filled in).
    ``(b) A joint resolution described in subsection (a) shall be 
referred to the committees in each House of Congress with jurisdiction.
    ``(c) In the Senate, if the committee to which is referred a joint 
resolution described in subsection (a) has not reported such joint 
resolution (or an identical joint resolution) at the end of 15 session 
days after the date of introduction of the joint resolution, such 
committee may be discharged from further consideration of such joint 
resolution upon a petition supported in writing by 30 Members of the 
Senate, and such joint resolution shall be placed on the calendar.
    ``(d)(1) In the Senate, when the committee to which a joint 
resolution is referred has reported, or when a committee is discharged 
(under subsection (c)) from further consideration of a joint resolution 
described in subsection (a), it is at any time thereafter in order 
(even though a previous motion to the same effect has been disagreed 
to) for a motion to proceed to the consideration of the joint 
resolution, and all points of order against the joint resolution (and 
against consideration of the joint resolution) are waived. The motion 
is not subject to amendment, or to a motion to postpone, or to a motion 
to proceed to the consideration of other business. A motion to 
reconsider the vote by which the motion is agreed to or disagreed to 
shall not be in order. If a motion to proceed to the consideration of 
the joint resolution is agreed to, the joint resolution shall remain 
the unfinished business of the Senate until disposed of.
    ``(2) In the Senate, debate on the joint resolution, and on all 
debatable motions and appeals in connection therewith, shall be limited 
to not more than 10 hours, which shall be divided equally between those 
favoring and those opposing the joint resolution. A motion to further 
limit debate is in order and not debatable. An amendment to, or a 
motion to postpone, or a motion to proceed to the consideration of 
other business, or a motion to recommit the joint resolution is not in 
order.
    ``(3) In the Senate, immediately following the conclusion of the 
debate on a joint resolution described in subsection (a), and a single 
quorum call at the conclusion of the debate if requested in accordance 
with the rules of the Senate, the vote on final passage of the joint 
resolution shall occur.
    ``(4) Appeals from the decisions of the Chair relating to the 
application of the rules of the Senate to the procedure relating to a 
joint resolution described in subsection (a) shall be decided without 
debate.
    ``(e) In the Senate, the procedure specified in subsection (c) or 
(d) shall not apply to the consideration of a joint resolution 
respecting a nonmajor rule--
            ``(1) after the expiration of the 60 session days beginning 
        with the applicable submission or publication date; or
            ``(2) if the report under section 801(a)(1)(A) was 
        submitted during the period referred to in section 801(d)(1), 
        after the expiration of the 60 session days beginning on the 
        15th session day after the succeeding session of Congress first 
        convenes.
    ``(f) If, before the passage by one House of a joint resolution of 
that House described in subsection (a), that House receives from the 
other House a joint resolution described in subsection (a), then the 
following procedures shall apply:
            ``(1) The joint resolution of the other House shall not be 
        referred to a committee.
            ``(2) With respect to a joint resolution described in 
        subsection (a) of the House receiving the joint resolution--
                    ``(A) the procedure in that House shall be the same 
                as if no joint resolution had been received from the 
                other House; but
                    ``(B) the vote on final passage shall be on the 
                joint resolution of the other House.
``Sec. 804. Definitions
    ``For purposes of this chapter:
            ``(1) The term `Federal agency' means any agency as that 
        term is defined in section 551(1).
            ``(2) The term `major rule' means any rule, including an 
        interim final rule, that the Administrator of the Office of 
        Information and Regulatory Affairs of the Office of Management 
        and Budget finds has resulted in or is likely to result in--
                    ``(A) an annual effect on the economy of $100 
                million 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, or 
                the ability of United States-based enterprises to 
                compete with foreign-based enterprises in domestic and 
                export markets.
            ``(3) The term `nonmajor rule' means any rule that is not a 
        major rule.
            ``(4) The term `rule' has the meaning given such term in 
        section 551, except that such term does not include--
                    ``(A) any rule of particular applicability, 
                including a rule that approves or prescribes for the 
                future rates, wages, prices, services, or allowances 
                therefore, corporate or financial structures, 
                reorganizations, mergers, or acquisitions thereof, or 
                accounting practices or disclosures bearing on any of 
                the foregoing;
                    ``(B) any rule relating to agency management or 
                personnel; or
                    ``(C) any rule of agency organization, procedure, 
                or practice that does not substantially affect the 
                rights or obligations of non-agency parties.
            ``(5) The term `submission or publication date', except as 
        otherwise provided in this chapter, means--
                    ``(A) in the case of a major rule, the date on 
                which the Congress receives the report submitted under 
                section 801(a)(1); and
                    ``(B) in the case of a nonmajor rule, the later 
                of--
                            ``(i) the date on which the Congress 
                        receives the report submitted under section 
                        801(a)(1); and
                            ``(ii) the date on which the nonmajor rule 
                        is published in the Federal Register, if so 
                        published.
``Sec. 805. Judicial review
    ``(a) No determination, finding, action, or omission under this 
chapter shall be subject to judicial review.
    ``(b) Notwithstanding subsection (a), a court may determine whether 
a Federal agency has completed the necessary requirements under this 
chapter for a rule to take effect.
    ``(c) The enactment of a joint resolution of approval under section 
802 shall not be interpreted to serve as a grant or modification of 
statutory authority by Congress for the promulgation of a rule, shall 
not extinguish or affect any claim, whether substantive or procedural, 
against any alleged defect in a rule, and shall not form part of the 
record before the court in any judicial proceeding concerning a rule 
except for purposes of determining whether or not the rule is in 
effect.
``Sec. 806. Exemption for monetary policy
    ``Nothing in this chapter shall apply to rules that concern 
monetary policy proposed or implemented by the Board of Governors of 
the Federal Reserve System or the Federal Open Market Committee.
``Sec. 807. Effective date of certain rules
    ``Notwithstanding section 801--
            ``(1) any rule that establishes, modifies, opens, closes, 
        or conducts a regulatory program for a commercial, 
        recreational, or subsistence activity related to hunting, 
        fishing, or camping; or
            ``(2) any rule other than a major rule which an agency for 
        good cause finds (and incorporates the finding and a brief 
        statement of reasons therefore in the rule issued) that notice 
        and public procedure thereon are impracticable, unnecessary, or 
        contrary to the public interest,
shall take effect at such time as the Federal agency promulgating the 
rule determines.''.

SEC. 4. BUDGETARY EFFECTS OF RULES SUBJECT TO SECTION 802 OF TITLE 5, 
              UNITED STATES CODE.

    Section 257(b)(2) of the Balanced Budget and Emergency Deficit 
Control Act of 1985 (2 U.S.C. 907(b)(2)) is amended by adding at the 
end the following new subparagraph:
                    ``(E) Budgetary effects of rules subject to section 
                802 of title 5, united states code.--Any rule subject 
                to the congressional approval procedure set forth in 
                section 802 of chapter 8 of title 5, United States 
                Code, affecting budget authority, outlays, or receipts 
                shall be assumed to be effective unless it is not 
                approved in accordance with such section.''.

SEC. 5. GOVERNMENT ACCOUNTABILITY OFFICE STUDY OF RULES.

    (a) In General.--The Comptroller General of the United States shall 
conduct a study to determine, as of the date of the enactment of this 
Act--
            (1) how many rules (as such term is defined in section 804 
        of title 5, United States Code) were in effect;
            (2) how many major rules (as such term is defined in 
        section 804 of title 5, United States Code) were in effect; and
            (3) the total estimated economic cost imposed by all such 
        rules.
    (b) Report.--Not later than 1 year after the date of the enactment 
of this Act, the Comptroller General of the United States shall submit 
a report to Congress that contains the findings of the study conducted 
under subsection (a).
                                 &lt;all&gt;
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