Regulatory Accountability Act This bill expands and provides statutory authority for notice-and-comment rulemaking procedures to require federal agencies to consider (1) whether a rulemaking is required by statute or is within the discretion of the agency, (2) whether existing laws or rules could be amended or rescinded to address the problem, and (3) reasonable alternatives to a new rule. For proposed major or high-impact rules that have a specified significant economic impact or adverse effect on the public health or safety, an agency must publish notice of such rulemaking to invite interested parties to propose alternatives and ideas to accomplish the agency's objectives; allow persons interested in high-impact or certain major rules to petition for a public hearing with oral presentation, cross-examination, and the burden of proof on the proponent of the rule; adopt the rule that maximizes net benefits within the scope of the statutory provision authorizing the rule, unless the agency explains the costs and benefits that justify adopting an alternative rule and such rule is approved by the Office of Information and Regulatory Affairs (OIRA); and publish a framework and metrics for measuring the ongoing effectiveness of the rule. Agencies must notify OIRA with certain information about a proposed rulemaking, including specified discussion and preliminary explanations concerning a major or high-impact rule. Further, OIRA must establish certain rulemaking guidelines. Additionally, the bill (1) revises the scope of judicial review of agency actions, and (2) establishes requirements for agencies issuing guidance.
Regulations from the Executive in Need of Scrutiny Act of 2023 This bill revises provisions relating to congressional review of agency rulemaking. Specifically, the bill establishes a congressional approval process for a major rule. A major rule may only take effect if Congress approves of the rule. A major rule is a rule that has resulted in or is likely to result in (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices for consumers, individual industries, government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based enterprises to compete with foreign-based enterprises. The bill generally preserves the current congressional review process for a nonmajor rule.
All Economic Regulations are Transparent Act of 2023 or the ALERT Act of 2023 This bill establishes various reporting requirements with respect to federal agency rulemaking. Specifically, each agency must submit a monthly report to the Office of Information and Regulatory Affairs (OIRA) for each rule the agency expects to propose or finalize during the following year, including information about the objectives and legal basis for the rule as well as whether the rule is subject to periodic review based on its significant economic impact. Additionally, each agency must submit a monthly report for any rule expected to be finalized during the following year for which the agency has issued a general notice of proposed rulemaking, including an approximate schedule for completing action on the rule and an estimate of its cost and economic effects. OIRA must publish this information online and, subject to certain exceptions, a rule may not take effect until the information has been published for at least six months. The bill also requires OIRA to annually publish in the Federal Register specified information it receives from agencies under this bill, including a list of each rule an agency has proposed and the total cost of all rules proposed or finalized. OIRA must further publish online (1) any analysis of the costs or benefits of rules that were proposed or finalized during the previous year, and (2) a list of rules that were subjected to various forms of review during the previous year.
Ensuring Accountability in Agency Rulemaking Act This bill requires, subject to a limited exception, that any agency rule promulgated under notice and comment procedures must be issued and signed by an individual who was appointed by the President and confirmed by the Senate. The Office of Information and Regulatory Affairs must issue guidance for agencies to implement this requirement.
Small Business Regulatory Flexibility Improvements Act This bill modifies the rulemaking requirements and procedures of federal agencies under the Regulatory Flexibility Act of 1980 and the Small Business Regulatory Enforcement Fairness Act of 1996, including how agencies consider economic impact with respect to small entities. Specifically, the bill requires agencies to consider the direct, and the reasonably foreseeable indirect, economic effect of a rule on small entities when determining whether a rule is likely to have a significant economic impact. Further, the regulatory flexibility analysis for rules with a significant economic impact must include a detailed description of alternatives to a proposed rule that minimize any adverse significant economic impact or maximize any beneficial significant economic impact on small entities. The bill also expands the types of agency actions (e.g., revisions to land management plans) that are subject to a regulatory impact analysis. The bill removes the authority for an agency to waive the regulatory flexibility analysis requirements and requires the Office of Advocacy of the Small Business Administration to issue rules for compliance with such requirements. The bill also modifies the procedures for the (1) gathering of comments for a proposed rule, (2) periodic review of agency rules, and (3) judicial review of final rules.
Require Evaluation before Implementing Executive Wishlists Act of 2023 or the REVIEW Act of 2023 This bill prohibits a final agency rule from taking effect until (1) the agency submits the rule to the Office of Information and Regulatory Affairs (OIRA), and (2) OIRA makes a determination as to whether the rule is a high-impact rule that may impose an annual cost on the economy of at least $1 billion. In addition, an agency must postpone the effective date of a high-impact rule until the final disposition of all actions seeking judicial review of the rule.
To amend the Federal Power Act to require generating facilities to provide advance notices for retiring electric generating units, and for other purposes.
Rulemaking Accountability and Reform Act of 2023
Expedited Removal Codification Act of 2023 This bill provides statutory authority for a July 23, 2019, Department of Homeland Security (DHS) notice that expanded the classes of non-U.S. nationals (aliens under federal law) who are subject to expedited removal (i.e., removal without further hearing or review). DHS published another notice on March 21, 2022, rescinding the July 2019 notice. Thus, this bill in effect restores the expanded version of expedited removal under the July 2019 notice. The July 2019 notice expanded expedited removal to cover certain inadmissible non-U.S. nationals who were apprehended in any part of the United States and who have been in the United States for less than two years. By contrast, with the March 2022 rescission, expedited removal is generally limited to certain inadmissible non-U.S. nationals apprehended near or at a border.
Putting Investors First Act of 2023 This bill requires a proxy advisory firm to register with the Securities and Exchange Commission and prohibits an unregistered proxy advisory firm from using interstate commerce to provide proxy-voting advice, research, analysis, or recommendations to any client. With respect to these firms, the bill (1) establishes procedures for both registration and termination of registration; (2) requires each firm to employ an ombudsman, designate a compliance officer, and publicly disclose conflicts of interest; (3) allows issuers to assess and comment on proxy voting recommendations; and (4) prohibits unfair, coercive, or abusive practices. The bill establishes a private right of action against a proxy advisory firm that endorses an approved proposal that is not supported by the issuer and is found to be illegal.