§1532 Statements to Accompany Significant Regulatory Actions

Summary

Before an agency issues a proposed or final rule that is likely to create federal requirements costing $100,000,000 or more in any one year (adjusted annually for inflation), the agency must write a short report explaining the rule. The report must name the law that gives the agency authority, explain the expected costs and benefits to governments and the private sector and the effects on health, safety, and the environment, and say whether federal funds or other federal help could cover those costs and whether such help is available. It must also give estimates, when reasonably possible, of future compliance costs and any uneven budget effects on regions, types of governments, communities, or parts of the private sector, and, if feasible and relevant, of effects on the national economy (like productivity, growth, jobs, and international competitiveness). The report must describe consultations with elected state, local, and tribal officials, summarize their comments, and summarize how the agency evaluated those comments. The agency must include a short summary of that report when it publishes the proposed or final rule. The agency may combine this report with other analyses so long as it covers all the required points.