I 
114TH CONGRESS 
2D SESSION 
H. R. 5319 
To amend the Congressional Budget Act of 1974 to establish a Federal 
regulatory budget and to impose cost controls on that budget, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 24, 2016 
Mr. WALKER (for himself, Mr. RATCLIFFE, Mrs. LOVE, Mr. HENSARLING, Mr. 
LOUDERMILK, and Mr. BRAT) introduced the following bill; which was re-
ferred to the Committee on the Budget, and in addition to the Commit-
tees on Rules, the Judiciary, Oversight and Government Reform, and 
Small Business, for a period to be subsequently determined by the Speak-
er, in each case for consideration of such provisions as fall within the ju-
risdiction of the committee concerned 
A BILL 
To amend the Congressional Budget Act of 1974 to establish 
a Federal regulatory budget and to impose cost controls 
on that budget, 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 ‘‘Article I Regulatory 
Budget Act’’. 
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SEC. 2. PRESIDENT’S ANNUAL BUDGET SUBMISSIONS. 
Section 1105(a) of title 31, United States Code, is 
amended by adding at the end the following: 
‘‘(40)(A) for the first fiscal year that begins at 
least 120 days after the date of enactment of this 
paragraph, and every fiscal year thereafter until the 
fifth fiscal year that begins after the date of enact-
ment of this paragraph, a projection of the Federal 
regulatory cost of any proposed Federal regulation, 
rule, or statement (as such terms are defined in sec-
tion 321 of the Congressional Budget Act of 1974) 
for the fiscal year and at least each of the 4 ensuing 
fiscal years, which shall include— 
‘‘(i) the projection of the Federal regu-
latory cost by agency and program; and 
‘‘(ii) any changes in a Federal regulation, 
rule, or statement in the Unified Agenda of 
Federal Regulatory and Deregulatory Actions, 
compiled by the Regulatory Information Service 
Center of the General Services Administration; 
and 
‘‘(B) for the fifth fiscal year that begins after 
the date of enactment of this paragraph, and every 
fiscal year thereafter, a regulatory authority budget 
analysis of the Federal regulatory cost of complying 
with all current and proposed Federal regulations, 
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rules, and statements and proposals (as such terms 
are defined in section 321 of the Congressional 
Budget Act of 1974) for complying with section 322 
of the Congressional Budget Act of 1974 for the fis-
cal year for which the budget is submitted and the 
4 fiscal years after that year, which shall include a 
regulatory authority budget analysis of the Federal 
regulatory cost by agency and program.’’. 
SEC. 3. ESTIMATION AND DISCLOSURE OF COSTS OF FED-
ERAL REGULATION. 
(a) COSTS TO PRIVATE SECTOR OF NEW FEDERAL 
REGULATIONS.—Chapter 6 of title 5, United States Code, 
popularly known as the ‘‘Regulatory Flexibility Act’’, is 
amended— 
(1) in section 603— 
(A) in subsection (a), in the second sen-
tence, by inserting before the period the fol-
lowing: ‘‘and shall discuss in detail whether the 
cost to businesses of complying with the pro-
posed rule will vary depending on the size of the 
business and, if so, to what extent the cost will 
vary and what factors contribute to the vari-
ation’’; 
(B) in subsection (c)— 
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(i) by redesignating paragraphs (1), 
(2), (3), and (4) as subparagraphs (A), 
(B), (C), and (D), respectively, and adjust-
ing the margin accordingly; 
(ii) by inserting ‘‘(1)’’ after ‘‘(c)’’; and 
(iii) by striking ‘‘Consistent with the’’ 
and inserting the following: 
‘‘(2) The analysis of significant alternatives to the 
proposed rule shall include a detailed analysis of the costs 
and benefits of the proposed rule and each alternative, 
which shall separately address the costs and benefits for 
each industry. 
‘‘(3) Consistent with the’’; and 
(C) by adding at the end the following: 
‘‘(e) Each initial regulatory flexibility analysis shall 
also contain a description of the nature and amount of 
monetary costs that will be incurred by small entities, 
other businesses, and individuals in complying with the 
proposed rule.’’; 
(2) in section 604(a)— 
(A) in the first paragraph designated as 
paragraph (6) (relating to minimization of sig-
nificant economic impacts), by striking ‘‘and’’ 
at the end; 
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(B) by redesignating the second paragraph 
(6) (relating to covered agencies), as paragraph 
(8); and 
(C) by inserting after paragraph (6) the 
following: 
‘‘(7) a statement of the nature and amount of 
monetary costs that will be incurred by small enti-
ties, other businesses, and individuals in complying 
with the rule; and’’; and 
(3) in section 607, by inserting before the pe-
riod the following: ‘‘, except that estimates of mone-
tary costs under sections 603(d) and 604(a)(7) shall 
only be in the form of a numerical description’’. 
(b) AGENCY REPORTS.—Each agency that prepares 
an initial regulatory flexibility analysis under chapter 6 
of title 5, United States Code, shall, at the same time sub-
mit to each House of Congress, the Congressional Budget 
Office, and the Office of Management and Budget a cost 
estimate and cost benefit analysis of any new proposed 
regulations, rules, or statements that would have a Fed-
eral regulatory cost (as defined in section 321 of the Con-
gressional Budget Act of 1974, as added by this Act) of 
at least $100,000,000 for any fiscal year. 
SEC. 4. GUIDANCE DOCUMENTS. 
(a) DEFINITIONS.—In this section— 
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(1) the terms ‘‘agency’’ and ‘‘rule’’ have the 
meanings given such terms in section 551 of title 5, 
United States Code; 
(2) the term ‘‘guidance document’’ means an 
agency statement of general applicability and future 
effect, other than a rule, that sets forth a policy on 
a statutory, regulatory, or technical issue or an in-
terpretation of a statutory or regulatory issue; and 
(3) the term ‘‘significant guidance document’’— 
(A) means a guidance document that the 
Office of Management and Budget determines 
will be disseminated to regulated entities or the 
general public and may reasonably be antici-
pated to— 
(i) lead to an annual effect of not less 
than $100,000,000 on, or adversely affect 
in a material way, the economy, a sector of 
the economy, productivity, competition, 
jobs, the environment, public health or 
safety, or State, local, or tribal govern-
ments or communities; 
(ii) create a serious inconsistency or 
otherwise interfere with an action taken or 
planned by an agency other than the agen-
cy issuing the guidance document; 
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(iii) materially alter the budgetary im-
pact of entitlements, grants, user fees, or 
loan programs or the rights or obligations 
of recipients thereof; or 
(iv) raise novel legal or policy issues 
arising out of legal mandates, the priorities 
of the President, or the principles set forth 
in Executive Order 12866 (5 U.S.C. 601 
note; relating to regulatory planning and 
review); and 
(B) does not include a guidance document 
that the Office of Management and Budget de-
termines— 
(i) relates to regulations issued in ac-
cordance with the formal rulemaking provi-
sions of sections 556 and 557 of title 5, 
United States Code; 
(ii) pertains to a military or foreign 
affairs function of the United States, other 
than procurement regulations and regula-
tions involving the import or export of non-
defense articles and services; 
(iii) relates to regulations that are 
limited to agency organization, manage-
ment, or personnel matters; or 
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(iv) is within a category of guidance 
documents exempted by the Administrator 
of the Office of Information and Regu-
latory Affairs.’ 
(b) LIMITATION
ON GUIDANCE DOCUMENTS.—An 
agency may not issue a significant guidance document un-
less the agency issues the significant guidance document 
after notice and an opportunity for comment in accord-
ance with the requirements for the promulgation of a rule 
under chapter 5 of title 5, United States Code. 
(c) PRIVATE RIGHT OF ACTION.—Any person ag-
grieved of an action taken or failed to be taken under a 
guidance document that was not issued in accordance with 
subsection (b) may bring a civil action in an appropriate 
district court of the United States alleging that the guid-
ance document should have been treated as a significant 
guidance document. 
SEC. 5. AMENDMENTS TO THE CONGRESSIONAL BUDGET 
ACT OF 1974. 
(a) FEDERAL REGULATORY BUDGET COST CONTROL 
SYSTEM.—Title III of the Congressional Budget Act of 
1974 is amended— 
(1) by inserting before section 300 the fol-
lowing: 
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‘‘PART A—GENERAL PROVISIONS’’; 
and 
(2) by adding at the end the following: 
‘‘PART B—FEDERAL REGULATORY BUDGET COST 
CONTROL 
‘‘SEC. 321. DEFINITIONS. 
‘‘In this part— 
‘‘(1) the term ‘CBO’ means the Congressional 
Budget Office; 
‘‘(2) the term ‘direct cost of Federal regulation’ 
means all costs incurred by, and expenditures re-
quired of, the Federal Government in issuing and 
enforcing Federal regulations, rules, and statements 
and Federal statutes; 
‘‘(3) the term ‘Federal regulation, rule, or 
statement’— 
‘‘(A) includes any guidance document 
issued after notice and an opportunity for com-
ment in accordance with the requirements for 
the promulgation of a rule under chapter 5 of 
title 5, United States Code; and 
‘‘(B) does not include— 
‘‘(i) a Federal regulation, rule, or 
statement applying to— 
‘‘(I) the military; or 
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‘‘(II) agency organization, man-
agement, or personnel; or 
‘‘(ii) a Federal regulation, rule, or 
statement designated by the President as 
being— 
‘‘(I) necessary because of an im-
minent threat to health or safety or 
other emergency; 
‘‘(II) necessary for the enforce-
ment of criminal laws; or 
‘‘(III) necessary for national se-
curity; 
‘‘(4) the term ‘Federal regulatory cost’— 
‘‘(A) means all costs incurred by, and ex-
penditures required of, the private sector, 
States, or local governments in complying with 
any Federal regulation, rule, or statement or 
any Federal statute; and 
‘‘(B) does not include the value of any ben-
efit under the Federal regulation, rule, or state-
ment or the Federal statute; 
‘‘(5) the term ‘gross domestic product’ means 
the gross domestic product of the United States dur-
ing a fiscal year, consistent with Department of 
Commerce definitions; 
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‘‘(6) the term ‘OMB’ means the Office of Man-
agement and Budget; and 
‘‘(7) the term ‘regulatory baseline’ means the 
projection described in section 326(a) of the Federal 
regulatory cost for the fiscal year after the date of 
the projection and the outyears. 
‘‘SEC. 322. ESTABLISHMENT OF LEVEL AND ALLOCATIONS. 
‘‘(a) ESTABLISHMENT OF LEVEL.— 
‘‘(1) IN GENERAL.—In addition to the require-
ments under section 301, a concurrent resolution on 
the budget for a fiscal year shall set forth the appro-
priate level for the Federal regulatory cost for the 
fiscal year and for at least each of the 4 ensuing fis-
cal years. 
‘‘(2) TRANSITION PERIOD.— 
‘‘(A) IN
GENERAL.—For the first fiscal 
year that begins at least 120 days after the 
date of enactment of this section, and each fis-
cal year thereafter until the fiscal year de-
scribed in section 326(a), the Committee on the 
Budget of the Senate and the Committee on the 
Budget of the House of Representatives shall 
include in the concurrent resolution on the 
budget for the fiscal year as the appropriate 
level for the Federal regulatory cost for the fis-
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cal year and any other fiscal year covered by 
the resolution the proposed levels submitted by 
the President under section 1105(a)(40) of title 
31, United States Code. 
‘‘(B) AMENDMENTS.— 
‘‘(i) IN GENERAL.—In the Senate and 
the House of Representatives, it shall not 
be in order to consider an amendment to 
a concurrent resolution on the budget that, 
if agreed to, would result in a net increase 
in a level included pursuant to subpara-
graph (A). 
‘‘(ii) WAIVER AND APPEAL.—A point 
of order under clause (i) may only be 
waived by the affirmative vote of three- 
fifths of the Members, duly chosen and 
sworn. An affirmative vote of three-fifths 
of Members, duly chosen and sworn, shall 
be required to sustain an appeal of the rul-
ing of the Chair on a point of order raised 
under clause (i). 
‘‘(3) DEFAULT TOTAL.—If there is not a level 
for the Federal regulatory cost that is in effect for 
a fiscal year under a concurrent resolution on the 
budget— 
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‘‘(A) for the first fiscal year that begins at 
least 120 days after the date of enactment of 
this section, and every fiscal year thereafter 
until the fiscal year described in subparagraph 
(B), the appropriate level for the Federal regu-
latory cost for the fiscal year shall be the pro-
posed level submitted by the President under 
section 1105(a)(40) of title 31, United States 
Code; 
‘‘(B) for the fifth fiscal year that begins 
after the date of enactment of this section, the 
appropriate level for the Federal regulatory cost 
for the fiscal year shall be the amount of the 
first regulatory baseline submitted under sec-
tion 326; and 
‘‘(C) for each fiscal year after the fiscal 
year described in subparagraph (B), the appro-
priate level for the Federal regulatory cost for 
the fiscal year shall be the level for the most re-
cent fiscal year for which such a level was in ef-
fect (under subparagraph (B), this subpara-
graph, or a concurrent resolution on the budg-
et). 
‘‘(b) ALLOCATION OF TOTALS.— 
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‘‘(1) IN
GENERAL.—For the first fiscal year 
that begins at least 120 days after the date of enact-
ment of this section, and each fiscal year thereafter, 
the joint explanatory statement accompanying the 
conference report on a concurrent resolution on the 
budget for such fiscal year shall include allocations 
of the Federal regulatory cost in effect under sub-
section (a) for such fiscal year and at least each of 
the 4 ensuing fiscal years— 
‘‘(A) among each committee of the Senate 
and each committee of the House of Represent-
atives; 
‘‘(B) by major functional category; and 
‘‘(C) by agency. 
‘‘(2) SUBALLOCATIONS.—As soon as practicable 
after receiving an allocation under paragraph (1), 
each committee shall— 
‘‘(A) suballocate its allocation— 
‘‘(i) among its subcommittees; 
‘‘(ii) among programs over which the 
committee has jurisdiction; and 
‘‘(iii) by agency; and 
‘‘(B) submit for printing in the Congres-
sional Record a statement detailing each sub-
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allocation made by the committee under sub-
paragraph (A). 
‘‘(c) POINT OF ORDER.— 
‘‘(1) IN GENERAL.—If a concurrent resolution 
on the budget setting forth the appropriate level for 
the Federal regulatory cost for a fiscal year has been 
agreed to, it shall not be in order in the Senate or 
the House of Representatives to consider any bill or 
resolution, or amendment thereto, which would cause 
an allocation or suballocation of the Federal regu-
latory cost made under subsection (b) for that fiscal 
year to be exceeded. 
‘‘(2) WAIVER AND APPEAL.—A point of order 
under paragraph (1) may only be waived by the af-
firmative vote of three-fifths of the Members, duly 
chosen and sworn. An affirmative vote of three-fifths 
of Members, duly chosen and sworn, shall be re-
quired to sustain an appeal of the ruling of the 
Chair on a point of order raised under paragraph 
(1). 
‘‘(d) DETERMINATIONS BY BUDGET COMMITTEES.— 
For purposes of this section, the amount of the Federal 
regulatory cost for a fiscal year and the amount of the 
Federal regulatory cost of a bill or resolution, or amend-
ment thereto, shall be determined by the Committee on 
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the Budget of the Senate or the Committee on the Budget 
of the House of Representatives, as the case may be. 
‘‘SEC. 323. ANALYSIS OF FEDERAL REGULATORY COST BY 
CONGRESSIONAL BUDGET OFFICE. 
‘‘(a) IN GENERAL.—CBO shall prepare for each bill 
or resolution of a public character reported by any com-
mittee of the Senate or the House of Representatives (ex-
cept the Committee on Appropriations of each House), 
and submit to such committee— 
‘‘(1) an estimate of the costs which would be in-
curred by the private sector in carrying out or com-
plying with such bill or resolution in the fiscal year 
in which it is to become effective and in each of the 
4 fiscal years following such fiscal year, which shall 
include— 
‘‘(A) a net present value estimate of the 
cost of compliance by the private sector with 
such bill or resolution; and 
‘‘(B) a discussion of the methodology used 
to prepare, and the basis for, each such esti-
mate; and 
‘‘(2) a comparison of the estimate of costs de-
scribed in paragraph (1) with any available esti-
mates of costs made by such committee or by any 
agency. 
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‘‘(b) LOOK-BACK REVIEWS.—CBO shall periodically 
submit to Congress a report, prepared in consultation with 
the Chairman of the Administrative Conference of the 
United States, that— 
‘‘(1) reviews a sample of laws of a public char-
acter for which an estimate was prepared under sub-
section (a)(1); and 
‘‘(2) compares the estimates of the costs de-
scribed in paragraphs (1) and (2) of subsection (a) 
and the actual costs incurred by the private sector 
in carrying out or complying with the law in the fis-
cal year in which it took effect and in each of the 
4 fiscal years following such fiscal year. 
‘‘SEC. 324. ENFORCEMENT. 
‘‘(a) ENFORCEMENT LANGUAGE REQUIRED IN AP-
PROPRIATION ACTS.—If a concurrent resolution on the 
budget that includes levels and allocations of the Federal 
regulatory cost for a fiscal year has been agreed to, it shall 
not be in order in the Senate or the House of Representa-
tives to consider a bill, joint resolution, amendment be-
tween the Houses, or conference report making appropria-
tions for the fiscal year that does not include a provision 
prohibiting amounts made available under the measure 
from being obligated or expended to enforce a Federal reg-
ulation, rule, or statement that would cause a breach of 
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any level or allocation of the Federal regulatory cost in 
effect for a fiscal year. 
‘‘(b) WAIVER AND APPEAL.—Subsection (a) may be 
waived or suspended in the Senate only by an affirmative 
vote of two-thirds of the Members, duly chosen and sworn. 
An affirmative vote of two-thirds of the Members of the 
Senate, duly chosen and sworn, shall be required to sus-
tain an appeal of the ruling of the Chair on a point of 
order raised under subsection (a). 
‘‘(c) REVIEW OF COST.— 
‘‘(1) DETERMINATIONS OF COST.— 
‘‘(A) BEA DETERMINATION.—The Bureau 
of Economic Analysis of the Department of 
Commerce shall determine the change in the 
Federal regulatory cost attributable to each 
newly promulgated, or amendment to a, Federal 
regulation, rule, or statement. 
‘‘(B) GUIDANCE FOR AGENCIES.—The Bu-
reau of Economic Analysis of the Department 
of Commerce shall issue guidance to agencies 
regarding the methodology to be used to deter-
mine the amount of, and any change in, the 
Federal regulatory cost attributable to each 
newly promulgated, or amendment to a, Federal 
regulation, rule, or statement. 
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‘‘(C) MANDATORY USE BY AGENCIES.—For 
purposes of any analysis conducted by an agen-
cy (without regard to whether the analysis is 
conducted for purposes of this Act), each agen-
cy shall determine the amount of, and any 
change in, the Federal regulatory cost attrib-
utable to each newly promulgated, or amend-
ment to a, Federal regulation, rule, or state-
ment in accordance with the guidance issued 
under subparagraph (B). 
‘‘(2) OMB DETERMINATION.—The OMB shall 
determine whether the change in the Federal regu-
latory cost determined under paragraph (1) would 
cause a breach of any level or allocation of the Fed-
eral regulatory cost in effect for a fiscal year, which 
shall incorporate any reduction to the level or alloca-
tion of the Federal regulatory cost attributable to a 
revision of a Federal regulation, rule, or statement 
during the fiscal year. 
‘‘(3) CBO REVIEW.—The CBO shall— 
‘‘(A) review the methodology used by the 
Bureau of Economic Analysis and the OMB for 
each determination under paragraphs (1) and 
(2); and 
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‘‘(B) issue an opinion on whether the 
change in the Federal regulatory cost attrib-
utable to the applicable newly promulgated, or 
amendment to a, Federal regulation, rule, or 
statement would cause a breach of any level or 
allocation of the Federal regulatory cost in ef-
fect for a fiscal year. 
‘‘(d) IMPLEMENTATION.—The OMB shall issue a di-
rective prohibiting funds from being obligated or expended 
to enforce a newly promulgated, or amendment to a, Fed-
eral regulation, rule, or statement during a fiscal year if— 
‘‘(1) the OMB determines that change in the 
Federal regulatory cost attributable to the newly 
promulgated, or amendment to a, Federal regula-
tion, rule, or statement, as determined by the Bu-
reau of Economic Analysis under subsection (c)(1), 
would cause a breach of any level or allocation of the 
Federal regulatory cost in effect for the fiscal year; 
and 
‘‘(2) the appropriation Act making the applica-
ble appropriations for the fiscal year contains a pro-
vision described in subsection (a). 
‘‘(e) OFFSETTING SAVINGS.—In making determina-
tions under this section with respect to a newly promul-
gated, or amendment to a, Federal regulation, rule, or 
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statement, the Bureau of Economic Analysis, the CBO, 
and the OMB shall subtract from the amount of the Fed-
eral regulatory cost, and any applicable allocation thereof, 
any reduction to the Federal regulatory cost that is attrib-
utable to a revision of another Federal regulation, rule, 
or statement made as part of the same rulemaking. 
‘‘(f) PRIVATE RIGHT OF ACTION.—Any person ag-
grieved of an action taken or failed to be taken under a 
Federal regulation, rule, or statement for which the OMB 
has issued a directive prohibiting enforcement under sub-
section (d) may bring a civil action in an appropriate dis-
trict court of the United States alleging that the Federal 
regulation, rule, or statement should not have been en-
forced. 
‘‘SEC. 325. OMB–CBO REPORTS. 
‘‘Not later than 5 years after the date of enactment 
of this section, and not later than September 15th of each 
odd-numbered year thereafter, OMB and CBO shall joint-
ly submit to the President, the Senate, and the House of 
Representatives a report that includes— 
‘‘(1) a projection of the direct cost of Federal 
regulation and the Federal regulatory cost for the 
first fiscal year beginning after the date of the re-
port and at least each of the 4 ensuing fiscal years; 
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‘‘(2) a calculation of the estimated direct cost 
of Federal regulation and Federal regulatory cost as 
a percentage of the gross domestic product; 
‘‘(3) the reduction in estimated gross domestic 
product attributable to private sector compliance 
with all Federal regulations, rules, or statements 
and all Federal statutes; 
‘‘(4) a detailed description of the effect on the 
economy of the United States of Federal regulations, 
rules, and statements and Federal statutes, which 
shall be categorized as relating to— 
‘‘(A) regulation of the economy; 
‘‘(B) security, including homeland security; 
‘‘(C) the environment; 
‘‘(D) health and safety; or 
‘‘(E) the Federal budget; 
‘‘(5) a discussion of the expected reduction in 
personnel, 
administrative 
overhead, 
and 
pro-
grammatic costs that would be achieved by Federal 
agencies that issue regulations, rules, or statements 
with a Federal regulatory cost if the Federal agen-
cies reduced the Federal regulatory cost by 5 per-
cent; 
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‘‘(6) recommendations for budgeting, technical, 
and estimating changes to improve the Federal regu-
latory budgeting process; 
‘‘(7) the Federal regulatory cost imposed by 
each Executive branch agency on regulated entities; 
‘‘(8) the direct cost of Federal regulation attrib-
utable to each Executive branch agency; 
‘‘(9) the Federal regulatory costs imposed by 
each Executive branch agency on small businesses, 
small organizations, and small governmental juris-
dictions (as those terms are defined in section 601 
of title 5, United States Code); and 
‘‘(10) the sum of the costs described in para-
graph (9). 
‘‘SEC. 326. REGULATORY BASELINE. 
‘‘(a) IN GENERAL.—For the fifth fiscal year that be-
gins after the date of enactment of this section and for 
every second fiscal year thereafter, CBO, in consultation 
with OMB, shall submit to the President, the Senate, and 
the House of Representatives a regulatory baseline, con-
sisting of a projection of the Federal regulatory cost for 
the fiscal year and at least each of the 4 ensuing fiscal 
years. In preparing the projection of the regulatory base-
line under this subsection, for the second fiscal year cov-
ered under the projection and each fiscal year thereafter, 
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CBO shall adjust the baseline for the estimated growth 
during that fiscal year in the gross domestic product. 
‘‘(b) DEADLINE.—The CBO shall submit a regu-
latory baseline required under subsection (a) for a fiscal 
year not later than the date on which the CBO submits 
the report required under section 202(e)(1) with respect 
to that fiscal year. 
‘‘(c) REGULAR UPDATES ON DEVELOPMENT OF REG-
ULATORY BASELINE.—Not later than the date on which 
the CBO submits the report required under section 
202(e)(1) with respect to each fiscal year during the pe-
riod beginning on the date of enactment of this section 
and ending on the date on which the CBO submits the 
first projection of the Federal regulatory cost under sub-
section (a), the CBO shall submit to the Committee on 
the Budget of the Senate and the Committee on the Budg-
et of the House of Representatives an annual update on 
the progress of the CBO in developing the regulatory base-
line.’’. 
(b) TECHNICAL AND CONFORMING AMENDMENT.— 
The table of contents set forth in section 1(b) of the Con-
gressional Budget and Impoundment Control Act of 1974 
is amended— 
(1) by inserting before the item relating to sec-
tion 300 the following: 
‘‘PART A. GENERAL PROVISIONS’’; 
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and 
(2) by inserting after the item relating to sec-
tion 315 the following: 
‘‘PART B. FEDERAL REGULATORY BUDGET COST CONTROL 
‘‘Sec. 321. Definitions. 
‘‘Sec. 322. Establishment of level and allocations. 
‘‘Sec. 323. Analysis of Federal regulatory cost by Congressional Budget Office. 
‘‘Sec. 324. Enforcement. 
‘‘Sec. 325. OMB–CBO reports. 
‘‘Sec. 326. Regulatory baseline.’’. 
SEC. 6. STUDY OF NONMAJOR RULES. 
(a) DEFINITIONS.—In this section— 
(1) the term ‘‘agency’’ has the meaning given 
that term in section 551 of title 5, United States 
Code; 
(2) the term ‘‘covered guidance document’’ 
means any guidance document that has resulted or 
is likely to result in an annual effect on the economy 
of not less than $10,000,000; 
(3) the term ‘‘covered nonmajor rule’’ means 
any rule that has resulted in or is likely to result in 
an annual effect on the economy of not less than 
$10,000,000 and not more than $100,000,000; 
(4) the term ‘‘guidance document’’ means an 
agency statement of general applicability and future 
effect, other than a rule, that sets forth a policy on 
a statutory, regulatory, or technical issue or an in-
terpretation of a statutory or regulatory issue; 
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(5) the term ‘‘Federal regulatory cost’’ has the 
meaning given that term under section 321 of the 
Congressional Budget Act of 1974, as added by this 
Act; and 
(6) the term ‘‘rule’’ has the meaning given that 
term in section 804 of title 5, United States Code. 
(b) REPORTS.—Not later than 120 days after the 
date of enactment of this Act and every 2 years thereafter, 
the Comptroller General of the United States shall submit 
to Congress a report regarding covered nonmajor rules 
and covered guidance documents, which shall include, for 
the 4-year period immediately preceding the report— 
(1) the number of covered nonmajor rules pro-
mulgated; 
(2) the number of covered nonmajor rules im-
plemented; 
(3) the number of covered guidance documents 
developed; 
(4) the number of covered guidance documents 
issued; 
(5) the Federal regulatory cost of each covered 
nonmajor rule implemented; 
(6) the Federal regulatory cost of each covered 
guidance document issued; 
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(7) the aggregate Federal regulatory cost of all 
covered nonmajor rules implemented; 
(8) the aggregate Federal regulatory cost of all 
covered guidance documents issued; and 
(9) a discussion of any covered nonmajor rule 
for which an initial regulatory flexibility analysis was 
prepared under section 603 of title 5, United States 
Code, a final regulatory flexibility analysis was pre-
pared under section 604 of title 5, United States 
Code, or a cost benefit analysis was prepared that 
underestimated the actual Federal regulatory cost of 
implementing the covered nonmajor rule. 
Æ 
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