# Summary of S. 1615, Regulatory Accountability Act
The Regulatory Accountability Act significantly expands the requirements federal agencies must follow when creating new rules. Under this bill, agencies must conduct detailed cost-benefit analyses for "major rules" (those with economic impacts of $100 million or more annually), consider at least three alternatives to proposed rules, and obtain approval from the Office of Information and Regulatory Affairs before publishing proposed rules. For major rules, agencies must provide the public with 90 days to comment (instead of the current 60 days) and allow an additional 30 days for people to respond to other public comments. The bill also creates new requirements for "guidance documents," which are agency interpretations that don't have the force of law, requiring agencies to prove benefits justify costs before issuing major guidance. Additionally, agencies must assess whether major rules continue to meet their original objectives within ten years and submit annual compliance reports to Congress. The legislation affects all federal agencies and the public by making rulemaking a longer, more rigorous process, though it provides no specific funding. The bill applies to future rulemaking only and does not affect rules already in progress at the time of enactment.
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