Independent Agency Regulatory Analysis Act of 2015

Bill: 114-s-1607
Sponsor: Sen. Portman, Rob [R-OH]
Introduced: 2015-06-18 in the Senate
Policy area: Government Operations and Politics
Subjects: Administrative law and regulatory procedures
Commodity Futures Trading Commission
Consumer Financial Protection Bureau
Consumer Product Safety Commission
Department of the Treasury
Federal Communications Commission (FCC)
Federal Deposit Insurance Corporation (FDIC)
Federal Energy Regulatory Commission (FERC)
Federal Housing Finance Agency
Federal Maritime Commission
Federal Reserve System
Federal Trade Commission (FTC)
National Labor Relations Board (NLRB)
Nuclear Regulatory Commission (NRC)
Occupational Safety and Health Review Commission
Postal Regulatory Commission
Presidents and presidential powers, Vice Presidents
Securities and Exchange Commission (SEC)
Surface Transportation Board

Summary:
action_date: 2015-06-18
text: 

Independent Agency Regulatory Analysis Act of 2015

 
Authorizes the President to require an independent regulatory agency to: (1) comply, to the extent permitted by law, with regulatory analysis requirements applicable to other federal agencies; (2) publish and provide the Office of Information and Regulatory Affairs with an assessment of the costs and benefits of a proposed or final economically significant rule (i.e., a rule that is likely to have an annual effect on the economy of $100 million or more and is likely to adversely affect sectors of the economy in a material way) and an assessment of costs and benefits of alternatives to the rule; and (3) submit to the Office for review any proposed or final economically significant rule.
 
Prohibits judicial review of the compliance or noncompliance of an independent regulatory agency with the requirements of this Act. 

action_date: 2016-12-09
text: 

Independent Agency Regulatory Analysis Act of 2015

 
(Sec. 3) This bill authorizes the President to require an independent regulatory agency, while maximizing net benefits and considering costs, to comply with regulatory analysis requirements applicable to other federal agencies.
 
For any proposed or final economically significant rule (i.e., a rule that is likely to have an annual effect on the economy of $100 million or more or to adversely affect in a material way the economy, productivity, competition, jobs, the environment, public health or safety, or state, local, or tribal governments or communities), the President may require in independent regulatory agency to publish and provide the Office of Information and Regulatory Affairs (OIRA) with: (1) an assessment of the costs and benefits of such rule, (2) an assessment of costs and benefits of alternatives to such rule, and (3) an explanation of why the planned regulatory action is preferable to identified alternatives.
 
The President may require: (1) such an agency to submit any proposed or final economically significant rule to OIRA for review; (2) OIRA to submit for inclusion in the rule making record its assessment of the extent to which the agency has complied with regulatory analysis requirements; and (3) that if OIRA does not complete such assessment within 90 days, such agency shall be deemed to have met the requirement for review and may publish the final rule without inclusion of an assessment in the rule making record.
 
(Sec. 4) Compliance of an independent regulatory agency with this bill's requirements shall not be subject to judicial review. 


Legislative actions:
action_date: 2016-12-09
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 721.
action_date: 2016-12-09
text: Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. Without written report.
action_date: 2016-12-09
text: Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. Without written report.
action_date: 2015-10-07
text: Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
action_date: 2015-09-16
text: Committee on Homeland Security and Governmental Affairs. Hearings held.
action_date: 2015-06-18
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
action_date: 2015-06-18
text: Introduced in Senate