To require congressional review of certain regulations issued by the Committee on Foreign Investment in the United States.

SA 2700. Mr. McCONNELL (for Mr. Toomey (for himself, Mr. Corker, Mr.
Sasse, Mr. Johnson, and Mr. Kennedy)) proposed an amendment to
amendment SA 2282 proposed by Mr. Inhofe (for himself and Mr. McCain)
to the bill H.R. 5515, to authorize appropriations for fiscal year 2019
for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; as follows:

At the end of title XVII, add the following:

SEC. 1734. CONGRESSIONAL REVIEW OF REGULATIONS.

(a) Congressional Review.--
(1) Publication and submission to congress of draft
regulations.--
(A) In general.--Notwithstanding any other provision of
this title, before a regulation prescribed by the Committee
on Foreign Investment in the United States (in this section
referred to as the ``Committee'') to carry out this title or
any amendment made by this title may take effect, the
Committee shall--
(i) publish in the Federal Register a list of information
on which the regulation is based, including data, scientific
and economic studies, and cost-benefit analyses, and identify
how the public can access such information online; and
(ii) submit to each House of Congress and to the
Comptroller General of the United States a report
containing--

(I) a copy of the regulation;
(II) a concise general statement relating to the
regulation;
(III) a classification of the regulation as a major
regulation or nonmajor regulation, including an explanation
of the classification specifically addressing each criteria
for a major regulation contained within subparagraphs (A)
through (C) of subsection (e)(1);
(IV) a list of any other related regulatory actions
intended to implement the same provision of or amendment made
by this title, as well as the individual and aggregate
economic effects of those actions; and
(V) the proposed effective date of the regulation.

(B) Additional submissions.--On the date of the submission
of the report under subparagraph (A), the Committee shall
submit to the Comptroller General and make available to each
House of Congress--
(i) a complete copy of the cost-benefit analysis of the
regulation, if any, including an analysis of any jobs added
or lost, differentiating between public and private sector
jobs;
(ii) the Committee's actions pursuant to sections 603, 604,
605, 607, and 609 of title 5, United States Code;
(iii) the Committee's actions pursuant to sections 202,
203, 204, and 205 of the Unfunded Mandates Reform Act of
1995; and
(iv) any other relevant information or requirements under
any other Act and any relevant Executive orders.
(C) Copies to committees of congress.--Upon receipt of a
report submitted under subparagraph (A), each House shall
provide copies of the report to the chairman and ranking
member of each standing committee with jurisdiction under the
rules of the House of Representatives or the Senate to report
a bill to amend the provision of law under which the
regulation is issued.
(2) Report by gao.--
(A) In general.--The Comptroller General of the United
States shall provide a report on each major regulation to the
committees of jurisdiction by the end of 15 calendar days
after the submission or publication date. The report of the
Comptroller General shall include an assessment of the
Committee's compliance with procedural steps required by
paragraph (1)(B) and an assessment of whether the major
regulation imposes any new limits or mandates on private-
sector activity.
(B) Cooperation of federal agencies.--The Committee shall
cooperate with the Comptroller General by providing
information relevant to the Comptroller General's report
under subparagraph (A).
(3) Effective date of regulations.--
(A) Major regulations.--A major regulation relating to a
report submitted under subsection (a) shall take effect upon
enactment of a joint resolution of approval described in
subsection (c) or as provided for in the regulation following
enactment of a joint resolution of approval described in
subsection (c), whichever is later.
(B) Nonmajor regulations.--A nonmajor regulation shall take
effect as provided by subsection (d) after submission to
Congress under paragraph (1).
(4) Prohibition on subsequent consideration of same
regulation.--If a joint resolution of approval relating to a
major regulation is not enacted within the period provided in
subsection (b)(2), then a joint resolution of approval
relating to the same regulation may not be considered under
this section in the same Congress by either the House of
Representatives or the Senate.
(b) Effectiveness of Regulations.--
(1) In general.--A major regulation shall not take effect
unless the Congress enacts a joint resolution of approval
described under subsection (c).
(2) Effect of not enacting joint resolution of approval.--
If a joint resolution of approval described in subsection (c)
is not enacted into law by the end of 70 session days or
legislative days, as applicable, beginning on the date on
which the report referred to in subsection (a)(1)(A) is
received by Congress (excluding days either House of Congress
is adjourned for more than 3 days during a session of
Congress), then the regulation described in that resolution
shall be deemed not to be approved and such regulation shall
not take effect.
(3) Temporary effectiveness.--
(A) In general.--Notwithstanding any other provision of
this section (except subject to subparagraph (C)), a major
regulation may take effect for one 90-calendar-day period if
the President makes a determination under subparagraph (B)
and submits written notice of such determination to Congress.
(B) Determination.--Subparagraph (A) applies to a
determination made by the President by Executive order that a
major regulation should take effect because such regulation
is--
(i) necessary because of an imminent threat to health or
safety or other emergency;
(ii) necessary for the enforcement of criminal laws;
(iii) necessary for national security; or
(iv) issued pursuant to any statute implementing an
international trade agreement.
(C) Effect on other provisions.--An exercise by the
President of the authority under this paragraph shall have no
effect on the procedures under subsection (c).
(4) Congressional review around adjournments of congress.--
(A) In general.--In addition to the opportunity for review
otherwise provided under this section, in the case of any
regulation for which a report was submitted in accordance
with subsection (a)(1)(A) during the period beginning on the
date occurring--
(i) in the case of the Senate, 60 session days, or
(ii) in the case of the House of Representatives, 60
legislative days,

before the date Congress is scheduled to adjourn a session of
Congress through the date on which the same or succeeding
Congress first convenes its next session, subsection (c) or
(d) shall apply to such rule in the succeeding session of
Congress.
(B) Special rules.--
(i) In general.--In applying subsections (c) and (d) for
purposes of such additional review, a regulation described in
subparagraph (A) shall be treated as though--

(I) such regulation were published in the Federal Register
on--

(aa) in the case of the Senate, the 15th session day, or
(bb) in the case of the House of Representatives, the 15th
legislative day,

after the succeeding session of Congress first convenes; and

[[Page S3696]]

(II) a report on such regulation were submitted to Congress
under subsection (a)(1) on such date.

(ii) Rule of construction.--Nothing in this paragraph shall
be construed to affect the requirement under subsection
(a)(1) that a report shall be submitted to Congress before a
regulation can take effect.
(C) Effect in accordance with law.--A regulation described
in subparagraph (A) shall take effect as otherwise provided
by law (including any other provision of this section).
(c) Congressional Approval Procedure for Major
Regulations.--
(1) Joint resolutions.--
(A) Joint resolution defined.--For purposes of this
subsection, the term ``joint resolution'' means only a joint
resolution addressing a report classifying a regulation as a
major regulation pursuant to subsection (a)(1)(A)(i)(III)
that--
(i) bears no preamble;
(ii) bears the following title (with blanks filled as
appropriate): ``Approving the regulation submitted by the
Committee on Foreign Investment in the United States relating
to ___.'';
(iii) includes after its resolving clause only the
following (with blanks filled as appropriate): ``That
Congress approves the regulation submitted by the Committee
on Foreign Investment in the United States relating to
___.''; and
(iv) is introduced pursuant to subparagraph (B).
(B) Introduction.--After a House of Congress receives a
report classifying a regulation as a major regulation
pursuant to subsection (a)(1)(A)(i)(III), the majority leader
of that House (or his or her respective designee) shall
introduce (by request, if appropriate) a joint resolution
described in subparagraph (A)--
(i) in the case of the House of Representatives, within 3
legislative days, and
(ii) in the case of the Senate, within 3 session days.
(C) Prohibition on amendments.--A joint resolution
described in subparagraph (A) shall not be subject to
amendment at any stage of proceeding.
(2) Referral.--A joint resolution described in paragraph
(1) shall be referred in each House of Congress to the
committees having jurisdiction over the provision of law
under which the regulation is issued.
(3) Discharge in senate.--In the Senate, if the committee
or committees to which a joint resolution described in
paragraph (1) has been referred have not reported it at the
end of 15 session days after its introduction, such committee
or committees shall be automatically discharged from further
consideration of the resolution and it shall be placed on the
calendar. A vote on final passage of the resolution shall be
taken on or before the close of the 15th session day after
the resolution is reported by the committee or committees to
which it was referred, or after such committee or committees
have been discharged from further consideration of the
resolution.
(4) Floor consideration in senate.--
(A) Motions to proceed.--In the Senate, when the committee
or committees to which a joint resolution is referred have
reported, or when a committee or committees are discharged
(under paragraph (3)) from further consideration of a joint
resolution described in paragraph (1), it is at any time
thereafter in order (even though a previous motion to the
same effect has been disagreed to) for a motion to proceed to
the consideration of the joint resolution, and all points of
order against the joint resolution (and against consideration
of the joint resolution) are waived. The motion is not
subject to amendment, or to a motion to postpone, or to a
motion to proceed to the consideration of other business. A
motion to reconsider the vote by which the motion is agreed
to or disagreed to shall not be in order. If a motion to
proceed to the consideration of the joint resolution is
agreed to, the joint resolution shall remain the unfinished
business of the Senate until disposed of.
(B) Debate.--In the Senate, debate on the joint resolution,
and on all debatable motions and appeals in connection
therewith, shall be limited to not more than 2 hours, which
shall be divided equally between those favoring and those
opposing the joint resolution. A motion to further limit
debate is in order and not debatable. An amendment to, or a
motion to postpone, or a motion to proceed to the
consideration of other business, or a motion to recommit the
joint resolution is not in order.
(C) Vote on final passage.--In the Senate, immediately
following the conclusion of the debate on a joint resolution
described in paragraph (1), and a single quorum call at the
conclusion of the debate if requested in accordance with the
rules of the Senate, the vote on final passage of the joint
resolution shall occur.
(D) Appeals from decisions of chair.--Appeals from the
decisions of the Chair relating to the application of the
rules of the Senate to the procedure relating to a joint
resolution described in paragraph (1) shall be decided
without debate.
(5) Consideration in house of representatives.--In the
House of Representatives, if any committee to which a joint
resolution described in paragraph (1) has been referred has
not reported it to the House at the end of 15 legislative
days after its introduction, such committee shall be
discharged from further consideration of the joint
resolution, and it shall be placed on the appropriate
calendar. On the second and fourth Thursdays of each month it
shall be in order at any time for the Speaker to recognize a
Member who favors passage of a joint resolution that has
appeared on the calendar for at least 5 legislative days to
call up that joint resolution for immediate consideration in
the House without intervention of any point of order. When so
called up a joint resolution shall be considered as read and
shall be debatable for 1 hour equally divided and controlled
by the proponent and an opponent, and the previous question
shall be considered as ordered to its passage without
intervening motion. It shall not be in order to reconsider
the vote on passage. If a vote on final passage of the joint
resolution has not been taken by the third Thursday on which
the Speaker may recognize a Member under this subsection,
such vote shall be taken on that day.
(6) Procedures upon receipt of resolution from other
house.--
(A) In general.--If, before passing a joint resolution
described in paragraph (1), one House receives from the other
a joint resolution having the same text, then--
(i) the joint resolution of the other House shall not be
referred to a committee; and
(ii) the procedure in the receiving House shall be the same
as if no joint resolution had been received from the other
House until the vote on passage, when the joint resolution
received from the other House shall supplant the joint
resolution of the receiving House.
(B) Revenue measures.--This paragraph shall not apply to
the House of Representatives if the joint resolution received
from the Senate is a revenue measure.
(7) Final vote.--If either House has not taken a vote on
final passage of the joint resolution by the last day of the
period described in subsection (b)(2), then such vote shall
be taken on that day.
(8) Rules of house of representatives and senate.--This
subsection and subsection (d) are enacted by Congress--
(A) as an exercise of the rulemaking power of the Senate
and House of Representatives, respectively, and as such are
deemed to be part of the rules of each House, respectively,
but applicable only with respect to the procedure to be
followed in that House in the case of a joint resolution
described in paragraph (1) and superseding other rules only
where explicitly so; and
(B) with full recognition of the constitutional right of
either House to change the rules (so far as they relate to
the procedure of that House) at any time, in the same manner
and to the same extent as in the case of any other rule of
that House.
(d) Congressional Disapproval Procedure for Nonmajor
Regulations.--
(1) Joint resolution defined.--For purposes of this
section, the term ``joint resolution'' means only a joint
resolution introduced in the period beginning on the date on
which the report referred to in subsection (a)(1)(A) is
received by Congress and ending 60 days thereafter (excluding
days either House of Congress is adjourned for more than 3
days during a session of Congress), the matter after the
resolving clause of which is as follows: ``That Congress
disapproves the nonmajor regulation submitted by the
Committee on Foreign Investment in the United States relating
to ___, and such regulation shall have no force or effect.''
(The blank spaces being appropriately filled in).
(2) Referral.--A joint resolution described in paragraph
(1) shall be referred to the committees in each House of
Congress with jurisdiction.
(3) Discharge in senate.--In the Senate, if the committee
to which is referred a joint resolution described in
paragraph (1) has not reported such joint resolution (or an
identical joint resolution) at the end of 15 session days
after the date of introduction of the joint resolution, such
committee may be discharged from further consideration of
such joint resolution upon a petition supported in writing by
30 Members of the Senate, and such joint resolution shall be
placed on the calendar.
(4) Floor consideration in the senate.--
(A) Motions to proceed.--In the Senate, when the committee
to which a joint resolution is referred has reported, or when
a committee is discharged (under paragraph (3)) from further
consideration of a joint resolution described in paragraph
(1), it is at any time thereafter in order (even though a
previous motion to the same effect has been disagreed to) for
a motion to proceed to the consideration of the joint
resolution, and all points of order against the joint
resolution (and against consideration of the joint
resolution) are waived. The motion is not subject to
amendment, or to a motion to postpone, or to a motion to
proceed to the consideration of other business. A motion to
reconsider the vote by which the motion is agreed to or
disagreed to shall not be in order. If a motion to proceed to
the consideration of the joint resolution is agreed to, the
joint resolution shall remain the unfinished business of the
Senate until disposed of.
(B) Debate.--In the Senate, debate on the joint resolution,
and on all debatable motions and appeals in connection
therewith, shall be limited to not more than 10 hours, which
shall be divided equally between those favoring and those
opposing the joint resolution. A motion to further limit
debate is in order and not debatable. An amendment to, or a
motion to postpone, or a motion to proceed to the
consideration of other business,

[[Page S3697]]

or a motion to recommit the joint resolution is not in order.
(C) Vote on final passage.--In the Senate, immediately
following the conclusion of the debate on a joint resolution
described in paragraph (1), and a single quorum call at the
conclusion of the debate if requested in accordance with the
rules of the Senate, the vote on final passage of the joint
resolution shall occur.
(D) Appeals from decisions of the chair.--Appeals from the
decisions of the Chair relating to the application of the
rules of the Senate to the procedure relating to a joint
resolution described in subsection (a) shall be decided
without debate.
(5) Special rule in senate.--In the Senate, the procedure
specified in paragraph (3) or (4) shall not apply to the
consideration of a joint resolution respecting a nonmajor
regulation--
(A) after the expiration of the 60 session days beginning
with the applicable submission or publication date; or
(B) if the report under subsection (a)(1)(A) was submitted
during the period referred to in subsection (b)(2), after the
expiration of the 60 session days beginning on the 15th
session day after the succeeding session of Congress first
convenes.
(6) Receipt of resolution from other house.--If, before the
passage by one House of a joint resolution of that House
described in paragraph (1), that House receives from the
other House a joint resolution described in paragraph (1),
then the following procedures shall apply:
(A) The joint resolution of the other House shall not be
referred to a committee.
(B) With respect to a joint resolution described in
paragraph (1) of the House receiving the joint resolution--
(i) the procedure in that House shall be the same as if no
joint resolution had been received from the other House; but
(ii) the vote on final passage shall be on the joint
resolution of the other House.
(e) Definitions.--In this section:
(1) Major regulation.--The term ``major regulation'' means
any regulation, including an interim final rule, that the
Administrator of the Office of Information and Regulatory
Affairs of the Office of Management and Budget finds has
resulted in or is likely to result in--
(A) an annual effect on the economy of $100 million or
more;
(B) a major increase in costs or prices for consumers,
individual industries, Federal, State, or local government
agencies, or geographic regions; or
(C) significant adverse effects on competition, employment,
investment, productivity, innovation, or the ability of
United States-based enterprises to compete with foreign-based
enterprises in domestic and export markets.
(2) Nonmajor regulation.--The term ``nonmajor regulation''
means any regulation that is not a major regulation.
(3) Regulation.--The term ``regulation'' has the meaning
given the term ``rule'' in section 551 of title 5, United
States Code, except that such term does not include--
(A) any rule of particular applicability, including a rule
that approves or prescribes for the future rates, wages,
prices, services, or allowances therefore, corporate or
financial structures, reorganizations, mergers, or
acquisitions thereof, or accounting practices or disclosures
bearing on any of the foregoing;
(B) any rule relating to agency management or personnel; or
(C) any rule of agency organization, procedure, or practice
that does not substantially affect the rights or obligations
of non-agency parties.
(4) Submission of publication date.--The term ``submission
or publication date'', except as otherwise provided in this
section, means--
(A) in the case of a major regulation, the date on which
Congress receives the report submitted under subsection
(a)(1); and
(B) in the case of a nonmajor regulation, the later of--
(i) the date on which the Congress receives the report
submitted under subsection (a)(1); and
(ii) the date on which the nonmajor regulation is published
in the Federal Register, if so published.
(f) Judicial Review.--
(1) In general.--No determination, finding, action, or
omission under this section shall be subject to judicial
review.
(2) Determination of compliance with requirements.--
Notwithstanding subsection (a), a court may determine whether
the Committee on Foreign Investment in the United States has
completed the necessary requirements under this section for a
regulation described in subsection (a)(1)(A) to take effect.
(3) Effect.--The enactment of a joint resolution of
approval under subsection (c) shall not be interpreted to
serve as a grant or modification of statutory authority by
Congress for the promulgation of a regulation, shall not
extinguish or affect any claim, whether substantive or
procedural, against any alleged defect in a regulation, and
shall not form part of the record before the court in any
judicial proceeding concerning a regulation except for
purposes of determining whether or not the regulation is in
effect.
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