FACT Act of 2016

Bill: 114-hr-5328
Sponsor: full_name: Rep. Boustany, Charles W., Jr. [R-LA-3]
Introduced: 2016-05-25
Policy area: Government Operations and Politics
Subjects: Administrative law and regulatory procedures

Economic performance and conditions
Latest action: action_date: 2016-05-25
text: Referred to the House Committee on the Judiciary.

Summaries:
action_date: 2016-05-25
action_desc: Introduced in House
text: <p><strong>Federal Agency Complete Transparency Act of 2016 or the FACT Act of 2016</strong></p> <p>This bill amends the Administrative Procedure Act to require a general notice of proposed rule making for a major rule (e.g., a rule that has an annual effect on the economy of $100 million or more) to include a cost-benefit analysis of the proposed rule.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5328 IN THE HOUSE OF REPRESENTATIVES May 25, 2016 Mr. Boustany introduced the following bill; which was referred to the Committee on the Judiciary A BILL To amend title 5, United States Code, to require a general notice of proposed rule making for a major rule to include a cost-benefit analysis of the proposed rule, and for other purposes.

1. Short title This Act may be cited as the Federal Agency Complete Transparency Act of 2016 or the FACT Act of 2016 . 2. Cost-benefit analysis required to be included in general notice of proposed rule making Section 553(b) of title 5, United States Code, is amended— (1) in paragraph (2), by striking and at the end; (2) in paragraph (3), by striking the period at the end and inserting ; and ; and (3) by inserting after paragraph (3) the following: (4) in the case of a major rule (as such term is defined in section 804), a cost-benefit analysis of the proposed rule, including any data or formula used for purposes of such analysis. .