‘‘(1) any material changes made to the pro-
posed rule by the agency after publication of the no-
tice of proposed rule making;
‘‘(2) any material changes made to the cost-
benefit analysis or risk assessment; and
‘‘(3) agency consideration of significant com-
ments received regarding the proposed rule and the
initial regulatory impact analysis.’’.
SEC. 4. RISK BASED PRIORITIES STUDY.
(a) STUDY.—Not later than 1 year after the date of
enactment of this Act, the Director of the Office of Man-
agement and Budget, in consultation with the Director of
the Office of Science and Technology Policy, shall enter
into a contract with an accredited scientific institution to
conduct a study that provides—
(1) a systematic comparison of the extent and
severity of significant risks to human health, safety,
or the environment (hereafter referred to as a com-
parative risk analysis);
(2) a study of methodologies for using compara-
tive risk analysis to compare dissimilar risks to
human health, safety, or the environment, including
development of a common basis to assist compara-
tive risk analysis related to both carcinogens and
noncarcinogens; and
(3) recommendations on the use of comparative
risk analysis in setting priorities for the reduction of
risks to human health, safety, or the environment.
(b) The Director shall ensure that the study required
under subsection (a) is—
(1) conducted through an open process pro-
viding opportunities for public comment and partici-
pation; and
(2) not later than 3 years after the date of en-
actment of this Act, completed and submitted to
Congress and the President.
(c) Not later than 4 years after the date of enactment
of this Act, each relevant agency shall, as appropriate, use
the results of the study required under subsection (a) to
inform the agency in the preparation of the agency’s an-
nual budget and strategic plan and performance plan
under section 306 of title 5, United States Code, and sec-
tions 1115, 1116, 1117, 1118, and 1119 of title 31,
United States Code.
(d) Not later than 5 years after the date of enactment
of this Act, and periodically thereafter, the President shall
submit a report to Congress recommending legislative
changes to assist in setting priorities to more effectively
and efficiently reduce risks to human health, safety, or
the environment.
SEC. 5. TECHNICAL AND CONFORMING AMENDMENTS.
(a) SUBCHAPTER HEADING.—Chapter 6 of title 5,
United States Code, is amended by inserting before sec-
tion 601 the following:
‘‘SUBCHAPTER I—ANALYSIS OF REGULATORY
FLEXIBILITY’’.
(b) TABLE OF SECTIONS.—The table of sections for
chapter 6 of title 5, United States Code, is amended—
(1) by inserting before the reference to section
601 the following:
‘‘SUBCHAPTER I—ANALYSIS OF REGULATORY FLEXIBILITY’’;
and
(2) by adding at the end the following:
‘‘SUBCHAPTER II—REGULATORY IMPACT ANALYSIS
‘‘621. Definitions.
‘‘622. Regulatory impact analysis.’’.
(c) CONFORMING AMENDMENTS.—Subchapter I of
chapter 6 of title 5, United States Code, is amended by
striking ‘‘this chapter’’ each place it occurs and inserting
‘‘this subchapter’’.
SEC. 6. EFFECTIVE DATE.
Except as otherwise provided in this Act, this Act
shall take effect 180 days after the date of enactment of
this Act, but shall not apply to any agency rule for which
a notice of proposed rule making is published on or before
60 days before the date of enactment of this Act.
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