S.Amdt. 1879

1. Adds TITLE __--INDEPENDENT AGENCY REGULATORY PLANNING AND ANALYSIS wherever appropriate

   Adds a title

   Inserted: TITLE __--INDEPENDENT AGENCY REGULATORY PLANNING AND ANALYSIS

   Inserted: SEC. __1. SHORT TITLE.

   Inserted: This title may be cited as the "Independent Agency Regulatory Planning and Analysis Act of 2012".

   Inserted: SEC. __2. DEFINITIONS.

   Inserted: In this title--

   Inserted: (1) the term "Administrator" means the Administrator of the Office of Information and Regulatory Affairs;

   Inserted: (2) the term "agency" has the same meaning as in section 3502(1) of title 44, United States Code;

   Inserted: (3) the term "independent regulatory agency" has the same meaning as in section 3502(5) of title 44, United States Code;

   Inserted: (4) the term "rule"--

   Inserted: (A) means a rule, as that term is defined in section 551 of title 5, United States Code; and

   Inserted: (B) does not include a rule of the Board of Governors of the Federal Reserve System or the Federal Open Market Committee relating to monetary policy; and

   Inserted: (5) the term "significant rule" means any rule that the Administrator determines is likely to--

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   Inserted: (A) have an annual effect on the economy of $100,000,000 or more;

   Inserted: (B) 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;

   Inserted: (C) materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients thereof; or

   Inserted: (D) create a serious inconsistency or otherwise interfere with an action taken or planned by another agency.

   Inserted: SEC. __3. REGULATORY ANALYSIS BY INDEPENDENT AGENCIES.

   Inserted: (a) In General.--The President may, by executive order, require an independent regulatory agency to comply with regulatory planning and analysis requirements applicable to other agencies, including the requirements to--

   Inserted: (1) assess the costs and the benefits of a rule;

   Inserted: (2) adopt a rule only upon a reasoned determination that the benefits of the rule justify the costs of the rule;

   Inserted: (3) use the best reasonably obtainable scientific, technical, economic, and other information concerning the need for, and consequences of, a rule;

   Inserted: (4) identify and assess alternative forms of regulation and, to the extent feasible, specific performance objectives, rather than specifying the behavior or manner of compliance that regulated entities are required adopt;

   Inserted: (5) seek the views, whenever feasible, of appropriate State, local, and tribal officials before imposing regulatory requirements that might significantly or uniquely affect State, local, or tribal governmental entities;

   Inserted: (6) avoid rules that are inconsistent or incompatible with, or duplicative of, other rules of the independent regulatory agency or other agencies;

   Inserted: (7) examine whether an existing rule (or other law) has created, or contributed to, the problem that a new rule is intended to correct and whether the rule (or other law) should be modified to achieve the intended goal of the rule more effectively;

   Inserted: (8) tailor the rules of the independent regulatory agency to impose the least burden on society, consistent with achieving the regulatory objectives, and taking into account, among other factors, and to the extent practicable, the cumulative cost of rules; and

   Inserted: (9) draft each rule to be simple and easy to understand, with the goal of minimizing the potential for uncertainty and litigation arising from uncertainty.

   Inserted: (b) Review by Office of Information and Regulatory Affairs.--

   Inserted: (1) Requirement to seek review.--The President may, by executive order, require an independent regulatory agency to submit any proposed or final significant rule to the Administrator for review.

   Inserted: (2) Nonbinding determination.--An executive order issued under paragraph (1) may require that the Administrator place in the rulemaking record of a significant rule the Administrator's determination whether the rule complies with any regulatory planning and analysis requirement made applicable to the independent regulatory agency by executive order.

   Inserted: (3) Reasoned explanation by independent agency.--An executive order issued under paragraph (1) may require that, if the Administrator makes a determination under paragraph (2) that a proposed or final significant rule does not comply with the requirements described in paragraph (2), the head of the independent regulatory agency that issued the rule shall include in the record of the rulemaking--

   Inserted: (A) a reasoned determination that the rule complies with the requirements, notwithstanding the determination of the Administrator; or

   Inserted: (B) a reasoned determination, based on the statute authorizing the rule, why the independent regulatory agency chose not to comply with the requirements.

   Inserted: SEC. __4. LIMITED JUDICIAL REVIEW.

   Inserted: (a) In General.--Except as provided in subsection (b), nothing in this title shall be construed to create any right or benefit, substantive or procedural, enforceable by any person in any administrative or judicial action.

   Inserted: (b) Review.--

   Inserted: (1) Jurisdiction.--Except as provided in paragraph (2), any person that is adversely affected or aggrieved by a determination by the head of an independent regulatory agency under section __3(b)(3) is entitled to judicial review in accordance with chapter 7 of title 5, United States Code.

   Inserted: (2) Standard of review.--A court reviewing a determination by the head of an independent regulatory agency under section __3(b)(3) shall hold unlawful and set aside the determination if the determination is arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law.

   Inserted: SEC. __5. RULE OF CONSTRUCTION.

   Inserted: Nothing in this title shall be construed to limit the authority of the President with respect to independent regulatory agencies under any other applicable law.

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   Original wording

   At the appropriate place, insert the following:

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As printed