Sec. 2. Definitions

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Section 551 of title 5, United States Code, is amended— in paragraph (13), by striking and at the end; in paragraph (14), by striking the period at the end and inserting a semicolon; and by adding at the end the following: major rule means any rule that the Administrator of the Office of Information and Regulatory Affairs determines is likely to impose— an annual cost on the economy of $100,000,000 or more, adjusted annually for inflation; a major increase in costs or prices for consumers, individual industries, Federal, State, local, or tribal government agencies, or geographic regions; significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets; or significant impacts on multiple sectors of the economy; high-impact rule means any rule that the Administrator of the Office of Information and Regulatory Affairs determines is likely to impose an annual cost on the economy of $1,000,000,000 or more, adjusted annually for inflation; negative-impact on jobs and wages rule means any rule that the agency that made the rule or the Administrator of the Office of Information and Regulatory Affairs determines is likely to— in one or more sectors of the economy that has a 6-digit code under the North American Industry Classification System, reduce employment not related to new regulatory compliance by 1 percent or more annually during the 1-year, 5-year, or 10-year period after implementation; in one or more sectors of the economy that has a 6-digit code under the North American Industry Classification System, reduce average weekly wages for employment not related to new regulatory compliance by 1 percent or more annually during the 1-year, 5-year, or 10-year period after implementation; in any industry area (as such term is defined in the Current Population Survey conducted by the Bureau of Labor Statistics) in which the most recent annual unemployment rate for the industry area is greater than 5 percent, as determined by the Bureau of Labor Statistics in the Current Population Survey, reduce employment not related to new regulatory compliance during the first year after implementation; or in any industry area in which the Bureau of Labor Statistics projects in the Occupational Employment Statistics program that the employment level will decrease by 1 percent or more, further reduce employment not related to new regulatory compliance during the first year after implementation; guidance means an agency statement of general applicability and future effect, other than a regulatory action, that sets forth a policy on a statutory, regulatory or technical issue or an interpretation of a statutory or regulatory issue; major guidance means guidance that the Administrator of the Office of Information and Regulatory Affairs finds is likely to lead to— an annual cost on the economy of $100,000,000 or more, adjusted annually for inflation; a major increase in costs or prices for consumers, individual industries, Federal, State, local or tribal government agencies, or geographic regions; significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets; or significant impacts on multiple sectors of the economy; the Information Quality Act means section 515 of Public Law 106–554 , the Treasury and General Government Appropriations Act for Fiscal Year 2001, and guidelines issued by the Administrator of the Office of Information and Regulatory Affairs or other agencies pursuant to the Act; and the Office of Information and Regulatory Affairs means the office established under section 3503 of chapter 35 of title 44 and any successor to that office. .

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Pub. L. 106-554

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Sec. 2

Definitions

Pub. L.Pub. L. 106-554

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