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.
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.
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.
Financial Exploitation Prevention Act of 2023 This bill addresses the redemption of securities involving the potential financial exploitation of an adult by allowing an open-end investment company to elect to comply with certain procedures. (Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds.) Specifically, the bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company reasonably believes the redemption involves the financial exploitation of an individual age 65 or older or an individual age 18 or older who is unable to protect his or her own interests. The company may initially delay the redemption for up to 15 days and, upon making a determination of exploitation, may delay the redemption an additional 10 days. In the event of delay, the company must hold the amounts related to the redemption in a demand deposit account. Additionally, the Securities and Exchange Commission must make legislative and regulatory recommendations to address the financial exploitation of these adults.
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.
Federal Land Freedom Act This bill sets forth a process that allows a state (including the District of Columbia) to seek to transfer the responsibility of energy development on available federal land within its boundaries from the federal government to the state. Available federal land does not include land that, as of May 31, 2013, is (1) held for the benefit of an Indian tribe, (2) in the National Park System, (3) in the National Wildlife Refuge System, or (4) in a congressionally designated wilderness area. To qualify for such a transfer of responsibility, a state must have a program that regulates the exploration and development of oil, natural gas, and other forms of energy on its land. The federal responsibility transfers to the state once the state submits to the Department of the Interior, the U.S. Department of Agriculture, and the Department of Energy a declaration that it has such a program and that it seeks to transfer the responsibility. Any action taken by a state to lease, permit, or regulate the exploration and development of energy on federal land in lieu of the federal government is not subject to the Administrative Procedure Act, the National Historic Preservation Act, the Endangered Species Act of 1973, or the National Environmental Policy Act of 1969.
Reducing Environmental Barriers to Unified Infrastructure and Land Development Act of 2023 Act or the REBUILD Act of 2023 This bill sets forth a process to authorize states to assume the environmental review responsibilities of federal agencies. Specifically, it allows states to oversee the environmental review required under certain federal environmental laws for projects funded by, carried out by, or subject to approval by federal agencies.
Working to Advance Tangible and Effective Reforms for California Act or the WATER for California Act This bill addresses the operation of the Central Valley Project (CVP), a federal water project in California owned and operated by the Bureau of Reclamation, and the California State Water Project (SWP), which is operated jointly with the CVP. Specifically, the bill requires that Reclamation operate the CVP and SWP pursuant to a specified alternative to a proposed action in a final environmental impact statement and 2019 agency published Biological Opinions (BiOps). The bill also requires Reclamation and the Department of Commerce to submit a justification to Congress that meets certain requirements prior to requesting or completing a reinitiation of consultation that will result in new BiOps. This bill also requires Reclamation to allocate water to existing agricultural water service contractors within the CVP's Sacramento River Watershed based on the water year type (e.g., dry, wet). These allocations must not affect the United States' ability or obligations to deliver water under other designated contracts. Further, the bill repeals certain eligibility requirements for water infrastructure construction funding under the Infrastructure Investment and Jobs Act to make the Shasta Dam and Reservoir Enlargement Project in California eligible for funding. The bill also requires that Reclamation funds made available but not used for this project in previous appropriations years be made available to the project. Finally, the bill reauthorizes Reclamation's support for the construction or expansion of water storage projects.