Regulatory Accountability Act of 1992

Regulatory Accountability Act of 1992 - Sets forth specific requirements Federal agencies must adhere to in taking any regulatory action.

Provides an exemption from certain requirements for regulatory actions for which the President publishes in the Federal Register a statement of waiver that: (1) outlines the reasons for waiving such requirements because of emergency need for such specific regulatory action; and (2) includes a timetable for satisfying remaining requirements as early as possible.

Requires the President to provide for independent evaluation of the regulatory process and the effect of regulations on different areas of the economy. Provides funding for such evaluation.

 
HR 5542 IH
102d CONGRESS
2d Session
 H. R. 5542
To institute accountability in the Federal regulatory process, establish
a program for systematic selection of regulatory priorities, and for other
purposes.
IN THE HOUSE OF REPRESENTATIVES
July 2, 1992
Mr. HASTERT (for himself, Mr. COMBEST, Mr. DELAY, and Mr. EWING) introduced
the following bill; which was referred to the Committee on the Judiciary
A BILL
To institute accountability in the Federal regulatory process, establish
a program for systematic selection of regulatory priorities, and for other
purposes.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. SHORT TITLE.
  This Act may be cited as the `Regulatory Accountability Act of 1992'.
SEC. 2. CONGRESSIONAL FINDINGS AND STATEMENT OF PURPOSE.
  (a) FINDINGS- The Congress finds and declares that--
  (1) the overall cost of Federal regulation in the United States has risen
  to well over $400,000,000,000 per year;
  (2) this regulatory burden is paid by individual citizens and their families
  in the form of a `hidden tax' because intermediaries have no options that
  do not pass these expenditures to individuals;
  (3) the most recent data reveals that the `hidden tax' paid by the citizens
  of this Nation now exceeds $4,100 annually for each household;
  (4) left unchecked, this `hidden tax' will increase by 50 percent between
  now and the year 2000; and
  (5) it is in the best interests of the American people to have the Federal
  Government devise a systematic way to account for the new regulatory costs
  that taxpayers are forced to absorb and to have this financial burden
  better controlled.
  (b) PURPOSE- It is the purpose of this Act to establish that each agency
  shall, as a mandatory requirement for the issuance of--
  (1) any proposed regulation--
  (A) thoroughly assess and document the anticipated benefits, reasonable
  alternative approaches, and all foreseeable compliance costs of each
  approach; and
  (B) assess, and include in all proposed regulatory actions, a range of
  possible offsets for the costs; and
  (2) any final regulation--
  (A) have selected the most cost-effective alternative; and
  (B) for a period of 3 years following enactment, have fully offset all
  foreseeable costs through revocation or revision of one or more existing
  regulations.
SEC. 3. DEFINITIONS.
  For purposes of this Act--
  (1) the term `agency' has the same meaning given such term in section
  3502(1) of title 44, United States Code, excluding those agencies specified
  in section 3502(10) of title 44, United States Code; and
  (2) the term `regulation' or `rule' means any agency statement of general
  applicability and future effect designed to implement, interpret, or
  prescribe law or policy or describing the procedure or practice requirements
  of an agency, but does not include--
  (A) administrative actions governed by the provisions of sections 556 and
  557 of title 5, United States Code;
  (B) regulations issued with respect to a military or foreign affairs
  function of the United States; or
  (C) regulations related to agency organization, management, or personnel.
SEC. 4. MANDATORY REQUIREMENT FOR THE ISSUANCE OF NEW REGULATION.
  In taking any regulatory action, each agency shall strictly adhere to the
  following requirements:
  (1) Administrative regulatory decisions shall be based on substantial
  evidence on the public record documenting--
  (A) the ability of an action to result in specific, reasonably anticipated
  benefits;
  (B) all alternative regulatory approaches, including performance-based
  approaches, that will result in the benefits documented under subparagraph
  (A); and
  (C) all foreseeable costs that can reasonably be expected to flow, directly
  or incidentally, from each approach documented under subparagraph (B).
  (2) No final regulatory actions may be taken unless the specific benefits
  resulting from a specific regulatory approach documented under paragraph
  (1) clearly outweigh the costs documented under paragraph (1).
  (3) Agencies shall--
  (A) for all proposed new regulatory actions that will generate any cost,
  propose a range of possible revisions to, or revocation of, one or more
  existing regulations, that can reasonably be expected to fully offset the
  reasonably anticipated costs of such proposed regulatory action; and
  (B) fully offset the costs documented under paragraph (1) through revision
  to, or revocation of, existing Federal regulation.
SEC. 5. EXEMPTION.
  The requirements of section 4(3) shall not apply in the case of regulatory
  actions for which the President includes in the Federal Register,
  accompanying the regulatory action, a statement of waiver that fully
  outlines the reasons and needs for waiving the requirements of section 4(3)
  because of emergency need for such specific regulatory action and includes
  a timetable for satisfying the requirements of section 4 at the earliest
  possible date thereafter.
SEC. 6. INDEPENDENT EVALUATION.
  (a) IN GENERAL- Three years following the date of enactment of this Act,
  the President shall provide for independent evaluation of the regulatory
  process and the effect of regulations on the different areas of the economy,
  including--
  (1) business startups and viability;
  (2) employment, including job creation, compensation, and employment of
  foreign nationals by United States firms;
  (3) international trade and competitiveness with foreign entities;
  (4) research and development;
  (5) impact on State and local governments; and
  (6) direct Federal spending for enforcement of regulations.
  (b) STUDY FOCUS- The evaluation required by this section shall also include
  a study of--
  (1) the effect of the regulatory cost cap imposed by this Act;
  (2) the methodologies used by regulatory agencies to estimate the cost of
  a rule or regulation; and
  (3) the use of alternative regulatory approaches described in section
  4(1)(B).
  (c) OMB- The Office of Management and Budget shall carry out the provisions
  of this section.
  (d) FUNDING- Notwithstanding section 1346 of title 31, United States
  Code, the President is authorized to transfer up to $50,000 from the
  funds available to any agency for administrative purposes to the Office
  of Management and Budget for the purpose of carrying out this section.
SEC. 7. EFFECTIVE DATE; SUNSET PROVISION.
  (a) EFFECTIVE DATE- The provisions of this Act shall take effect upon
  the date of enactment of this Act, except that the effective date for
  regulations or rules promulgated pursuant to a law enacted after the date
  that is 2 years before the date of enactment of this Act and not later
  than the date of enactment of this Act shall be 6 months after the date
  of enactment of this Act.
  (b) SUNSET- The requirements of section 4(3) shall cease to have effect
  on the date that is 3 years following the date of enactment of this Act.