§1532 Statements to accompany significant regulatory actions

Summary

Agencies must prepare a written statement before they issue a proposed rule that is likely to create a federal requirement causing State, local, and tribal governments or the private sector to spend $100,000,000 or more in any 1 year (amount adjusted annually for inflation), and again before issuing any final rule that followed such a proposal—unless another law stops them. The statement must say which federal law gives the agency the power to make the rule; describe the expected costs and benefits for governments, the private sector, health, safety, and the environment; and analyze how much of the costs might be paid with federal money and whether federal resources exist to help carry out the requirement. The agency must also, when it can make reliable estimates, give future compliance cost estimates and note any larger budget effects on particular regions, governments, communities, or parts of the private sector. If the agency decides it can make relevant and reliable estimates, it should say how the rule could affect the national economy (for example, productivity, growth, employment, job creation, and international competitiveness). The statement must describe prior talks with elected officials of affected governments, summarize their written or oral comments, and summarize the agency’s response. A short summary of this statement must appear in the proposed or final rule, and the agency may include the statement as part of another analysis if it meets these requirements.