RISE Small Business Act of 2015

Bill: 114-s-1807
Sponsor: full_name: Sen. Daines, Steve [R-MT]
Introduced: 2015-07-21
Policy area: Government Operations and Politics
Subjects: Administrative law and regulatory procedures

Economic performance and conditions

Government information and archives
Latest action: action_date: 2015-07-21
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S5212-5213; text of measure as introduced: CR S5213)

Summaries:
action_date: 2015-07-21
action_desc: Introduced in Senate
text: <p><strong>Regulatory Impact Scale on the Economy Small Business Act of 2015 or the RISE Small Business Act of 2015</strong></p> <p>Requires a federal agency, before promulgating a proposed or final rule that it determines is likely to have an annual effect on the economy of at least $100 million, to assign the rule to, and publish in the Federal Register, the following category that applies based on the highest possible annual effect the agency determines the rule is likely to have on the economy: </p> <ul> <li>category 1 rule likely to result in an annual effect of between $100 million and $499,999,999; </li> <li> category 2 rule likely to result in an annual effect of between $500 million and $999,999,999; </li> <li> category 3 rule likely to result in an annual effect of between $1 billion and $4,999,999,999; </li> <li> category 4 rule likely to result in an annual effect of between $5 billion and $9,999,999,999; and </li> <li> category 5 rule likely to result in an annual effect of not less than $10 billion.</li> </ul> <p>Directs: (1) each agency to submit to the Office of Information and Regulatory Affairs (OIRA) annually a list of the rules, by category, that the agency published during the preceding year; and (2) OIRA to publish each list and an estimate of the costs and benefits of each included rule on www.reginfo.gov.</p> <p>Defines &quot;significant economic impact&quot; for purposes of provisions concerning initial and final regulator flexibility analyses as an annual economic effect of at least $100 million.</p>

tv_txt: II 114th CONGRESS 1st Session S. 1807 IN THE SENATE OF THE UNITED STATES July 21, 2015 Mr. Daines (for himself, Mr. Blunt , and Mr. Gardner ) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To require agencies to publish the categorization of certain proposed and final rules, and for other purposes.

1. Short title This Act may be cited as the Regulatory Impact Scale on the Economy Small Business Act of 2015 or the RISE Small Business Act of 2015 . 2. Categorization of rules Section 553 of title 5, United States Code, is amended by adding at the end the following: (f) Categorization of rules (1) In general Before an agency promulgates a proposed or final rule that the agency determines is likely to have an annual effect on the economy of not less than $100,000,000, the agency shall— (A) assign the rule to the applicable category described in paragraph (2) based on the highest possible annual effect that the agency determines the proposed or final rule is likely to have on the economy; and (B) publish in the Federal Register the assigned category for the rule. (2) Categories A proposed or final rule is a— (A) category 1 rule, if the agency determines that the rule is likely to result in an annual effect on the economy of not less than $100,000,000 and not more than $499,999,999; (B) category 2 rule, if the agency determines that the rule is likely to result in an annual effect on the economy of not less than $500,000,000 and not more than $999,999,999; (C) category 3 rule, if the agency determines that the rule is likely to result in an annual effect on the economy of not less than $1,000,000,000 and not more than $4,999,999,999; (D) category 4 rule, if the agency determines that the rule is likely to result in an annual effect on the economy of not less than $5,000,000,000 and not more than $9,999,999,999; and (E) category 5 rule, if the agency determines that the rule is likely to result in an annual effect on the economy of not less than $10,000,000,000. (3) Submission to OIRA Each agency shall, on an annual basis, submit to the Administrator of the Office of Information and Regulatory Affairs a list of the rules, by category, that the agency published in the Federal Register under paragraph (1) during the preceding year. (4) Publication on OIRA website Not later than 60 days after the date on which the Administrator of the Office of Information and Regulatory Affairs receives a list of rules from an agency under paragraph (3), the Administrator shall publish on www.reginfo.gov— (A) the list of rules received from the agency under paragraph (3); and (B) an estimate of the costs and benefits of each rule included on the list. . 3. Defining significant economic impact for initial and final regulatory flexibility analyses Section 601 of title 5, United States Code, is amended— (1) in paragraph 6, by striking and at the end; (2) in paragraph 7, by striking the period at the end and inserting a semicolon; (3) in paragraph 8— (A) by striking Recordkeeping and all that follows through The and inserting the ; and (B) by striking the period at the end and inserting ; and ; and (4) by adding at the end the following: (9) the term significant economic impact means an annual economic effect of not less than $100,000,000. .