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Code · BILL · 115th Congress · H.R. 10 (Introduced in House) — To create hope and opportunity for investors, consumers, and entrepreneurs by ending bailouts and Too Big to Fail, ho... · Sec. 382

Sec. 382. Statements to accompany significant regulatory actions

378 words·~2 min read·/bill/115/hr/10/ih/section-382·

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Unless otherwise expressly prohibited by law, before promulgating any general notice of proposed rulemaking or any final rule, or within six months after promulgating any final rule that was not preceded by a general notice of proposed rulemaking, if the proposed rulemaking or final rule includes a Federal mandate that may result in an annual effect on State, local, or tribal governments, or to the private sector, in the aggregate of $100,000,000 or more in any 1 year, the agency shall prepare a written statement containing the following: The text of the draft proposed rulemaking or final rule, together with the information required under subsections
(a)and (b)(1) of section 312, as applicable, including an explanation of the manner in which the proposed rulemaking or final rule is consistent with the statutory requirement and avoids undue interference with State, local, and tribal governments in the exercise of their governmental functions. Estimates by the agency, if and to the extent that the agency determines that accurate estimates are reasonably feasible, of— the future compliance costs of the Federal mandate; and any disproportionate budgetary effects of the Federal mandate upon any particular regions of the nation or particular State, local, or tribal governments, urban or rural or other types of communities, or particular segments of the private sector. A detailed description of the extent of the agency’s prior consultation with the private sector and elected representatives (under section 384) of the affected State, local, and tribal governments. A detailed summary of the comments and concerns that were presented by the private sector and State, local, or tribal governments either orally or in writing to the agency. A detailed summary of the agency’s evaluation of those comments and concerns. A detailed summary of how the agency complied with each of the regulatory principles described under section 312, as applicable. In promulgating a general notice of proposed rulemaking or a final rule for which a statement under subsection
(a)is required, the agency shall include in the promulgation a summary of the information contained in the statement. Any agency may prepare any statement required under subsection
(a)in conjunction with or as a part of any other statement or analysis, provided that the statement or analysis satisfies the provisions of subsection (a).
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