(d) TREATMENT
IF
THE
OTHER
HOUSE
HAS
ACTED.—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) comprised of the same text,
then—
(1) the procedure in that House shall be the
same as if no joint resolution had been received from
the other House, and
(2) the vote on final passage shall be on the
joint resolution of the other House.
(e) CONSTITUTIONAL AUTHORITY.—This section is
enacted by Congress—
(1) as an exercise of the rulemaking power of
the Senate and the House of Representatives, re-
spectively, and as such it is deemed a 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 it supersedes other rules only to
the extent that it is inconsistent with such rules; and
(2) with full recognition of the constitutional
right of either House to change the rules (so far as
relating 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. 5. EXISTING RULES.
(a) IN GENERAL.—Any existing rule may be revised
or revoked in accordance with this section if a petition for
review so requests.
(b) INTRODUCTION.—If a petition for review is filed
with the Clerk of the House of Representatives or the Sec-
retary of the Senate, the Clerk or the Secretary shall de-
termine whether the petition meets the requirements of
subsection (d). If the Clerk or the Secretary determines
that a petition meets those requirements, he or she shall
notify the majority leader of that House. The majority
leader so notified shall, within 3 session days in the Senate
or 3 legislative days in the House of Representatives, in-
troduce a joint resolution (by request) that makes the revi-
sion or revocation of existing rules proposed by the peti-
tion upon the enactment of that joint resolution. If the
joint resolution is not introduced as provided in the pre-
ceding sentence, then any Member of that House may in-
troduce the joint resolution.
(c) PROCEDURES
FOR
CONSIDERATION
IN
THE
HOUSE OF REPRESENTATIVES AND THE SENATE.—Any
joint resolution introduced under subsection (b) shall be
considered in the House of Representatives and the Senate
in accordance with the procedures respecting a joint reso-
lution set forth in section 4.
(d) PETITIONS FOR REVIEW.—A petition for review
under subsection (a) shall contain the following:
(1) Any rule affected by the petition and the
contents of that rule as it would exist if a joint reso-
lution revising or revoking that rule pursuant to the
petition were enacted.
(2) For a petition in the Senate, the signatures
of 30 Senators, or for a petition in the House of
Representatives, the signatures of 120 Members.
SEC. 6. DEFINITIONS.
For purposes of this Act:
(1) AGENCY.—The term ‘‘agency’’ has the
meaning given that term in section 551 of title 5,
United States Code (relating to administrative pro-
cedure).
(2) SESSION DAY AND LEGISLATIVE DAY.—The
terms ‘‘session day’’ and ‘‘legislative day’’ do not in-
clude, with respect to a House of the Congress, any
day throughout which that House is not in session.
(3) RULE.—(A) The term ‘‘rule’’ has the mean-
ing given such term by section 551 of title 5, United
States Code, except that such term does not in-
clude—
(i) any rule of particular applicability in-
cluding a rule that approves or prescribes—
(I) future rates, wages, prices, serv-
ices, or allowances therefor,
(II) corporate or financial structures,
reorganizations, mergers, or acquisitions
thereof, or
(III) accounting practices or disclo-
sures bearing on any of the foregoing, or
(ii) any rule of agency organization, per-
sonnel, procedure, practice, or any routine mat-
ter.
(B) The term ‘‘final rule’’ means any final rule
or interim final rule.
(4) SIGNIFICANT RULE.—The term ‘‘significant
rule’’ means any rule proposed by an agency that is
specified or described as such in the Act that au-
thorizes the rule.
SEC. 7. EXEMPTION FOR MONETARY POLICY.
Nothing in this Act applies to any rule concerning
monetary policy proposed or implemented by the Board
of Governors of the Federal Reserve System or the Fed-
eral Open Market Committee.
Æ