A bill to amend the Unfunded Mandates Reform Act of 1995 to provide for regulatory impact analyses for certain rules and consideration of the least burdensome regulatory alternative, and for other purposes.
About This Bill
Committee
Latest Action · March 26, 2019
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Unfunded Mandates Accountability Act
This bill revises rulemaking requirements with respect to unfunded mandates.
Specifically, the bill (1) requires federal agencies to prepare and publish in the Federal Register an initial and final regulatory impact analysis prior to promulgating any proposed or final rule that may have an annual effect on the economy of $100 million or more (adjusted for inflation); (2) requires consideration of regulatory alternatives to the rule and requires the selection of the least costly, most cost-effective, or least burdensome alternative; (3) exempts from such requirements rules that concern monetary policy proposed or implemented by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee; and (4) expands judicial review of agency rulemaking.
The bill extends certain budgetary requirements to independent regulatory agencies.
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