I
104TH CONGRESS
1ST SESSION
H. R. 1636
To provide a more complete accounting of national expenditures and the
corresponding benefits of Federal regulatory programs through issuance
of an accounting statement and associated report every 2 years, and
for other purposes.
IN THE HOUSE OF REPRESENTATIVES
MAY 15, 1995
Mr. BLILEY (for himself, Mr. MCINTOSH, Mr. CONDIT, and Mr. STENHOLM)
introduced the following bill; which was referred to the Committee on
Government Reform and Oversight
A BILL
To provide a more complete accounting of national expendi-
tures and the corresponding benefits of Federal regu-
latory programs through issuance of an accounting state-
ment and associated report every 2 years, and for other
purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Regulatory Accounting
Act of 1995’’.
SEC. 2. ACCOUNTING STATEMENT.
(a) IN GENERAL.—Every 2 years after the enactment
of this Act the President shall prepare and submit to Con-
gress an accounting statement that estimates the costs of
Federal regulatory programs and corresponding benefits
in accordance with this section.
(b) YEARS
COVERED
BY
ACCOUNTING
STATE-
MENT.—Each accounting statement shall cover, at a mini-
mum, the 5 fiscal years beginning on October 1 of the
year in which the report is submitted and may cover any
fiscal year preceding such fiscal years for purposes of re-
vising previous estimates.
(c) TIMING AND PROCEDURES.—
(1) NOTICE
AND
COMMENT.—The President
shall provide notice and opportunity for comment for
each accounting statement. The President may dele-
gate to an agency the requirement to provide notice
and opportunity for comment for the portion of the
accounting statement relating to that agency.
(2) DEADLINES FOR FIRST STATEMENT.—The
President shall propose the first accounting state-
ment under this section not later than 2 years after
the date of the enactment of this Act and shall issue
the first accounting statement in final form not later
than 3 years after the date of the enactment of this
Act. Such statement shall cover, at a minimum, each
of the 8 fiscal years beginning after the date of the
enactment of this Act.
(d) CONTENT OF ACCOUNTING STATEMENT.—
(1) IN GENERAL.—Each accounting statement
shall contain estimates of costs and benefits with re-
spect to each fiscal year covered by the statement in
accordance with this subsection. For each such fiscal
year for which estimates were made in a previous ac-
counting statement, the statement shall revise those
estimates and state the reasons for the revisions.
(2) STATEMENT OF COSTS.—
(A) IN
GENERAL.—An accounting state-
ment shall estimate the costs of Federal regu-
latory programs by setting forth, for each year
covered by the statement—
(i) the annual expenditure of national
economic resources for the regulatory pro-
gram; and
(ii) such other quantitative and quali-
tative measures of costs as the President
considers appropriate.
Costs shall be quantified to the extent feasible and
appropriate and otherwise shall be qualitatively de-
scribed.
(B) NATIONAL
ECONOMIC
RESOURCES.—
For purposes of the estimate of costs in the ac-
counting statement, national economic re-
sources include, and shall be listed under, at
least the following categories:
(i) Private sector costs, including di-
rect costs and appropriate indirect costs.
(ii) 
Federal 
sector 
administrative
costs.
(iii) Federal sector compliance costs.
(iv) State government administrative
costs.
(v) Local government administrative
costs.
(vi) State government compliance
costs.
(vii) Local government compliance
costs.
(3) STATEMENT
OF
CORRESPONDING
BENE-
FITS.—An accounting statement shall estimate the
benefits of Federal regulatory programs by setting
forth, for each year covered by the statement, quan-
titative and qualitative measures of benefits. Costs
shall be quantified to the extent feasible and appro-
priate and otherwise shall be qualitatively described.
Any quantitative estimate of benefits concerning re-
duction in human health, safety, or environmental
risks shall, to the extent feasible and appropriate,
present the most plausible level of risk, along with
a statement of the reasonable degree of scientific un-
certainty.
SEC. 3. ASSOCIATED REPORT TO CONGRESS.
(a) IN GENERAL.—At the same time as the President
submits an accounting statement under section 2, the
President, acting through the Director of the Office of
Management and Budget, shall submit to Congress a re-
port associated with the accounting statement (hereinafter
referred to as the ‘‘associated report’’). The associated re-
port shall contain an analyses of impacts prepared in, in
accordance with subsection (b).
(b) ANALYSES OF IMPACTS.—The President shall in-
clude in the associated report the following:
(1) Analyses prepared by the President of the
cumulative impact of Federal regulatory programs
covered in the accounting statement on the follow-
ing:
(A) The ability of State and local govern-
ments to provide essential services, including
police, fire protection, and education.
(B) Small business.
(C) Job growth.
(D) International competitiveness.
(E) Technological innovation.
(F) Consumer prices for goods and serv-
ices.
(G) Such other factors considered appro-
priate by the President.
(2) A summary of any independent analyses of
impacts prepared by persons commenting during the
comment period on the accounting statement.
SEC. 4. GUIDANCE FROM OFFICE OF MANAGEMENT AND
BUDGET.
The Director of the Office of Management and Budg-
et shall provide guidance to agencies—
(1) to standardize measures of costs and bene-
fits in accounting statements prepared pursuant to
this Act; and
(2) to standardize the format of the accounting
statements.
SEC. 5. RECOMMENDATIONS FROM CONGRESSIONAL BUDG-
ET OFFICE.
After each accounting statement and associated re-
port are submitted to Congress, the Director of the Con-
gressional Budget Office shall make recommendations to
the President—
(1) for improving accounting statements pre-
pared pursuant to this Act, including recommenda-
tions on level of detail and accuracy; and
(2) for improving associated reports prepared
pursuant to this Act, including recommendations on
the quality of analysis.
SEC. 6. DEFINITIONS.
For purposes of this Act, the following definitions
apply:
(1) The term ‘‘Federal regulatory program’’
means a program carried out pursuant to a related
group of Federal statutes and regulations, as deter-
mined by the President.
(2) The term ‘‘regulation’’ means an agency
statement of general applicability and future effect
designed to implement, interpret, or prescribe law or
policy or describing the procedure or practice re-
quirements of an agency. The term does not in-
clude—
(A) administrative actions governed by sec-
tions 556 and 557 of title 5, United States
Code;
(B) regulations issued with respect to a
military or foreign affairs function of the
United States; or
(C) regulations related to agency organiza-
tion, management, or personnel.
(3) The term ‘‘agency’’ means any executive de-
partment, military department, Government corpora-
tion, Government controlled corporation, or other es-
tablishment in the executive branch of the Govern-
ment (including the executive Office of the Presi-
dent), but does not include the General Accounting
Office, Federal Election Commission, the govern-
ments of the District of Columbia and of the terri-
tories and possessions of the United States, and
their various subdivisions, or Government-owned
contractor-operated facilities including laboratories
engaged in national defense research and production
activities.
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