Reducing Regulatory Burdens Act  This bill establishes procedures to reduce the number of federal regulations. Specifically, it requires each agency to establish a regulatory reform task force chaired by a designated regulatory reform officer. Each task force must, among other duties (1) review each existing agency regulation; (2) estimate the potential cost savings of repealing or modifying each regulation; and (3) identify regulations that are appropriate for repeal, replacement, or modification based on cost, effectiveness, and impact on employment.  The bill further prohibits agencies from issuing a new regulation with an economic impact of at least $100 million without identifying two regulations for repeal that will offset the cost of the proposed new regulation.  Agencies also must submit a list of all planned regulatory actions for inclusion in the semiannual Unified Agenda of Federal Regulatory and Deregulatory Actions, including (1) the estimated economic effect of each action, and (2) proposed deregulatory actions to offset the cost of each proposed new regulation. Additionally, the Office of Management and Budget must establish an annual regulatory budget for each federal agency that specifies the net allowable increase in regulatory costs for each agency during the next fiscal year.
To provide for a method by which the economic costs of significant 
  regulatory actions may be offset by the repeal of other regulatory 
                    actions, 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 ``Reducing Regulatory Burdens Act''.

SEC. 2. SENSE OF CONGRESS; PURPOSE.

    (a) Sense of Congress.--It is the sense of Congress that the 
Federal Government should be prudent and financially responsible in the 
expenditure of funds, from both public and private sources. In addition 
to the management of the direct expenditure of taxpayer dollars through 
the budgeting process, it is essential to manage the costs associated 
with the governmental imposition of private expenditures required to 
comply with Federal regulations.
    (b) Purpose.--The purpose of this Act is--
            (1) to remove unnecessary or outdated regulations when a 
        new significant regulation is issued; and
            (2) to prudently manage and control the cost of planned 
        regulations through an annual budgeting process.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Agency.--The term ``agency'' has the meaning given the 
        term in section 551 of title 5, United States Code.
            (2) Agency rro.--The term ``agency RRO'' means the 
        Regulatory Reform Officer of an agency designated under section 
        4(a).
            (3) Costs.--The term ``costs'' means opportunity cost to 
        society.
            (4) Cost savings.--The term ``cost savings'' means the cost 
        imposed by a regulatory action that is eliminated by the 
        repeal, replacement, or modification of the regulatory action.
            (5) Deregulatory action.--The term ``deregulatory action'' 
        means the repeal, replacement, or modification of an existing 
        regulatory action.
            (6) Director.--The term ``Director'' means the Director of 
        the Office of Management and Budget.
            (7) Incremental regulatory cost.--The term ``incremental 
        regulatory cost'' means the difference between the estimated 
        cost of issuing a significant regulatory action and the 
        estimated cost saved by issuing any deregulatory action.
            (8) Regulation; rule.--The term ``regulation'' or ``rule'' 
        has the meaning given the term ``rule'' in section 551 of title 
        5, United States Code.
            (9) Regulatory action.--The term ``regulatory action'' 
        means--
                    (A) any regulation; and
                    (B) any other regulatory guidance, statement of 
                policy, information collection request, form, or 
                reporting, recordkeeping, or disclosure requirements 
                that imposes a burden on the public or governs agency 
                operations.
            (10) Significant regulatory action.--The term ``significant 
        regulatory action'' means any regulatory action, other than 
        monetary policy proposed or implemented by the Board of 
        Governors of the Federal Reserve System or the Federal Open 
        Market Committee, that is likely to--
                    (A) have an annual effect on the economy of 
                $100,000,000 or more 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 governments or 
                communities;
                    (B) create a serious inconsistency or otherwise 
                interfere with an action taken or planned by another 
                agency;
                    (C) materially alter the budgetary impact of 
                entitlements, grants, user fees, or loan programs or 
                the rights and obligations of recipients thereof; or
                    (D) raise a novel legal or policy issue.
            (11) State.--The term ``State'' means each of the several 
        States, the District of Columbia, and each territory or 
        possession of the United States.
            (12) Task force.--The term ``Task Force'' means the 
        regulatory reform task force of an agency described in section 
        4(b).

SEC. 4. ESTABLISHING REGULATORY REFORM CAPACITY.

    (a) Regulatory Reform Officers.--
            (1) In general.--Except as provided in section 7, not later 
        than 60 days after the date of enactment of this Act, the head 
        of each agency shall designate an employee or officer of the 
        agency as the Regulatory Reform Officer.
            (2) Duties.--In accordance with applicable law and in 
        consultation with relevant senior agency officials, each agency 
        RRO shall oversee--
                    (A) the implementation of regulatory reform 
                initiatives and policies for the agency to ensure that 
                the agency effectively carries out regulatory reforms; 
                and
                    (B) the termination of programs and activities that 
                derive from or implement statutes, Executive orders, 
                guidance documents, policy memoranda, rule 
                interpretations, and similar documents, or relevant 
                portions thereof, that have been repealed or rescinded.
    (b) Regulatory Reform Task Forces.--
            (1) Establishment of agency task force; membership.--Except 
        as provided in section 7, not later than 60 days after the date 
        of the enactment of this Act, the head of each agency shall 
        appoint and may remove members to the regulatory reform task 
        force of the agency, which shall be composed of the following 
        members:
                    (A) The agency RRO.
                    (B) A senior agency official from each relevant 
                component or office of the agency with significant 
                authority for issuing or repealing regulatory actions.
                    (C) Additional senior agency officials involved in 
                the development of rulemaking or other regulatory 
                action at the agency, as determined by the head of the 
                agency.
            (2) Chair.--Unless otherwise designated by the head of the 
        agency, the agency RRO shall chair the Task Force of the 
        agency.
            (3) Joint task forces.--
                    (A) In general.--For the consideration of a joint 
                rulemaking, the Director may form a joint regulatory 
                reform task force composed of not less than 1 member 
                from the Task Force of each relevant agency.
                    (B) Consultation.--Any joint regulatory reform task 
                force formed under this paragraph shall consult with 
                each relevant Task Force.
            (4) Duties.--Each Task Force shall--
                    (A) conduct ongoing evaluations of regulations and 
                other regulatory actions and make recommendations that 
                are consistent with and that could be implemented in 
                accordance with applicable law to the head of the 
                agency regarding repeal, replacement, or modification 
                of regulations and regulatory actions; and
                    (B) to the extent practicable--
                            (i) not later than 5 years after the date 
                        of enactment of this Act, complete a review of 
                        each regulation issued by the agency;
                            (ii) for each regulation or regulatory 
                        action reviewed and identified for repeal, 
                        replacement, or modification, estimate the cost 
                        savings of the repeal, replacement, or 
                        modification, as applicable; and
                            (iii) identify regulations that are 
                        appropriate for repeal, replacement, or 
                        modification, and prioritize the evaluation of 
                        regulations that--
                                    (I) eliminate or have eliminated 
                                jobs or inhibit or have inhibited job 
                                creation;
                                    (II) are outdated, unnecessary, or 
                                ineffective;
                                    (III) impose costs that exceed 
                                benefits;
                                    (IV) create a serious inconsistency 
                                or otherwise interfere with regulatory 
                                reform initiatives and policies;
                                    (V) were issued or are maintained 
                                in a manner that is inconsistent with 
                                the requirements of section 515 of the 
                                Treasury and General Government 
                                Appropriations Act, 2001 (44 U.S.C. 
                                3516 note), or the guidance issued 
                                pursuant to that section, including any 
                                rule that relies in whole or in part on 
                                data, information, or methods that are 
                                not publicly available or that are 
                                insufficiently transparent to meet the 
                                standard for reproducibility; or
                                    (VI) were made pursuant to or to 
                                implement statutes, Executive orders, 
                                or other Presidential directives that 
                                have been subsequently rescinded or 
                                substantially modified.
    (c) Consultation With Stakeholders.--In performing the tasks under 
this section, each agency RRO and Task Force--
            (1) shall seek input and other assistance from the public 
        and from entities significantly affected by regulations, 
        including State, local, and Tribal governments, small 
        businesses, consumers, non-governmental organizations, and 
        trade associations; and
            (2) may--
                    (A) incorporate specific suggestions from 
                stakeholders in identifying the list of deregulatory 
                actions to recommend to the head of the agency; and
                    (B) accept or solicit input from the public in any 
                manner, if--
                            (i) the process is transparent to the 
                        public and Congress;
                            (ii) a list of each meeting, a list of each 
                        stakeholder that submitted a comment, and a 
                        copy of each written comment are made publicly 
                        available online; and
                            (iii) the Task Force issues a public notice 
                        of any public meeting to solicit input not less 
                        than 7 days before the public meeting and makes 
                        detailed minutes of the meeting available 
                        online not less than 7 days after the date of 
                        the meeting.
    (d) Transparent Regulatory Reform.--
            (1) Website.--To the extent practicable, the head of each 
        agency shall publish information about the Task Force of the 
        agency and other regulatory reform initiatives on the website 
        of the agency--
                    (A) which shall include--
                            (i) a list of the members of the Task Force 
                        of the agency;
                            (ii) a copy of each report issued under 
                        this subsection; and
                            (iii) a link to or copy of each notice of a 
                        meeting or solicitation of public comments 
                        issued by the Task Force of the agency; and
                    (B) which may include--
                            (i) an online forum to receive comments 
                        from the public; and
                            (ii) any other information about the Task 
                        Force or other regulatory reform initiatives at 
                        the agency.
            (2) Report.--Not less than twice a year, each agency RRO 
        shall submit to the head of the agency a report on the 
        activities performed under this section and any recommendations 
        resulting from those activities, which shall be posted by the 
        head of the agency on a publicly accessible website and shall 
        include the following:
                    (A) A description of any improvement made toward 
                implementation of regulatory reform initiatives and 
                policies.
                    (B) For each regulation or other regulatory action 
                reviewed by the Task Force, a detailed description of 
                the review.
                    (C) An inventory of each regulation or regulatory 
                action the Task Force recommends the agency consider 
                for repeal, replacement, or modification.
                    (D) A list of all activities conducted under 
                subsection (c), a summary of all comments received, and 
                a hyperlink to copies of each public comment received.

SEC. 5. ACCOUNTABILITY.

    (a) Incorporation in Performance Plans.--
            (1) In general.--Each agency listed in section 901(b)(1) of 
        title 31, United States Code, shall incorporate in the annual 
        performance plan of the agency required under section 1115(b) 
        of title 31, United States Code, performance indicators that 
        measure progress implementing this Act.
            (2) OMB guidance.--The Director shall issue, and update as 
        necessary, guidance regarding the implementation of this 
        subsection.
    (b) Performance Assessment.--The head of each agency shall consider 
the progress implementing this Act in assessing the performance of the 
Task Force of the agency and those individuals responsible for 
developing and issuing agency rules.

SEC. 6. REGULATORY PLANNING AND BUDGET.

    (a) Unified Agenda and Annual Regulatory Plan.--
            (1) Unified regulatory agenda.--During the months of April 
        and October of each year, the Director shall publish a unified 
        regulatory agenda, which shall include--
                    (A) regulatory and deregulatory actions under 
                development or review at agencies;
                    (B) a Federal regulatory plan of all significant 
                regulatory actions and associated deregulatory actions 
                that agencies reasonably expect to issue in proposed or 
                final form in the current and following fiscal year; 
                and
                    (C) all information required to be included in the 
                regulatory flexibility agenda under section 602 of 
                title 5, United States Code.
            (2) Agency submissions.--In accordance with guidance issued 
        by the Director and not less than 60 days before each date of 
        publication for the unified regulatory agenda under paragraph 
        (1), the head of each agency shall submit to the Director an 
        agenda of all regulatory actions and deregulatory actions under 
        development at the agency, including the following:
                    (A) For each regulatory action and deregulatory 
                action:
                            (i) A regulation identifier number.
                            (ii) A brief summary of the action.
                            (iii) The legal authority for the action.
                            (iv) Any legal deadline for the action.
                            (v) The name and contact information for a 
                        knowledgeable agency official.
                            (vi) Any other information as required by 
                        the Director.
                    (B) An annual regulatory plan, which shall include 
                a list of each significant regulatory action the agency 
                reasonably expects to issue in proposed or final form 
                in the current and following fiscal year, including for 
                each significant regulatory action:
                            (i) A summary, including the following:
                                    (I) A statement of the regulatory 
                                objectives.
                                    (II) The legal authority for the 
                                action.
                                    (III) A statement of the need for 
                                the action.
                                    (IV) The agency's schedule for the 
                                action.
                            (ii) The estimated cost.
                            (iii) The estimated benefits.
                            (iv) Any deregulatory action identified to 
                        offset the estimated cost of such significant 
                        regulatory action and an explanation of how the 
                        agency will continue to achieve regulatory 
                        objectives if the deregulatory action is taken.
                            (v) A best approximation of the total cost 
                        or savings and any cost or savings associated 
                        with a deregulatory action.
                            (vi) An estimate of the economic effects, 
                        including any estimate of the net effect that 
                        such action will have on the number of jobs in 
                        the United States, that was considered in 
                        drafting the action, or, if such estimate is 
                        not available, a statement affirming that no 
                        information on the economic effects, including 
                        the effect on the number of jobs, of the action 
                        has been considered.
                    (C) Information required under section 602 of title 
                5, United States Code.
                    (D) Information required under any other law to be 
                reported by agencies about significant regulatory 
                actions, as determined by the Director.
    (b) Federal Regulatory Budget.--
            (1) Establishment.--In the April unified regulatory agenda 
        described in subsection (a), the Director--
                    (A) shall establish the annual Federal Regulatory 
                Budget, which specifies the net amount of incremental 
                regulatory costs allowed by the Federal Government and 
                at each agency for the next fiscal year; and
                    (B) may set the incremental regulatory cost 
                allowance to allow an increase, prohibit an increase, 
                or require a decrease of incremental regulatory costs.
            (2) Default net incremental regulatory cost.--If the 
        Director does not set a net amount of incremental regulatory 
        costs allowed for an agency, the net incremental regulatory 
        cost allowed shall be zero.
            (3) Balance rollover of incremental regulatory cost 
        allowance.--
                    (A) In general.--If an agency does not exhaust all 
                of the incremental regulatory cost allowance for a 
                fiscal year, the balance may be added to the 
                incremental regulatory cost allowance for the 
                subsequent fiscal year, without increasing the 
                incremental regulatory costs allowed for the Federal 
                Government for the subsequent fiscal year.
                    (B) Total carryover.--The Director shall identify 
                the total carryover incremental regulatory cost 
                allowance available to an agency in the Federal 
                Regulatory Budget.
    (c) Significant Regulatory Action Requirements.--Except as 
otherwise required by law, a significant regulatory action shall have 
no effect unless--
            (1) the--
                    (A) head of the agency identifies not less than 2 
                deregulatory actions to offset the costs of the 
                significant regulatory action, and to the extent 
                feasible, issues those deregulatory actions before or 
                on the same schedule as the significant regulatory 
                action;
                    (B) incremental costs of the significant regulatory 
                action as offset by any deregulatory action issued 
                before or on the same schedule as the significant 
                regulatory action do not cause the agency to exceed or 
                contribute to the agency exceeding the incremental 
                regulatory cost allowance of the agency for that fiscal 
                year; and
                    (C) significant regulatory action was included on 
                the most recent version or update of the published 
                unified regulatory agenda; or
            (2) the issuance of the significant regulatory action was 
        approved in advance in writing by the Director and the written 
        approval is publicly available online prior to the issuance of 
        the significant regulatory action.
    (d) Guidance by OMB.--
            (1) In general.--Not later than 90 days after the date of 
        enactment of this Act, the Director shall establish and issue 
        guidance on how agencies should comply with the requirements of 
        this section, which shall include the following:
                    (A) A process for standardizing the measurement and 
                estimation of regulatory costs, including cost savings 
                associated with deregulatory actions.
                    (B) Standards for determining what qualifies as a 
                deregulatory action.
                    (C) Standards for determining the costs of existing 
                regulatory actions that are considered for repeal, 
                replacement, or modification.
                    (D) A process for accounting for costs in different 
                fiscal years.
                    (E) Methods to oversee the issuance of significant 
                regulatory actions offset by cost savings achieved at 
                different times or by different agencies.
                    (F) Emergencies and other circumstances that may 
                justify individual waivers of the requirements of this 
                section.
                    (G) Standards by which the Director will determine 
                whether a regulatory action or a collection of 
                regulatory actions qualifies as a significant 
                regulatory action.
            (2) Updates to guidance.--The Director shall update the 
        guidance issued pursuant to this section as necessary.

SEC. 7. WAIVER.

    (a) Waiver Authority.--Upon the written request of the head of an 
agency, the Director may issue a written waiver of the requirements of 
section 4 if the Director determines that the agency generally issues 
very few or no rules.
    (b) Revocation of Waiver.--The Director may revoke at any time a 
waiver issued under this section.
    (c) Public Availability of Waivers.--The Director shall maintain a 
publicly available list of each agency that is operating under a waiver 
issued under this section.
    (d) Requirement for Waiver.--A waiver shall not be effective unless 
the written waiver and the written request of the agency are publicly 
available on the website of the Office of Management and Budget.
                                 <all>
Reducing Regulatory Burdens Act
A bill to provide for a method by which the economic costs of significant regulatory actions may be offset by the repeal of other regulatory actions, and for other purposes.
Reducing Regulatory Burdens Act
Sen. Risch, James E.