§1532 Statements to Accompany Significant Regulatory Actions

Summary

Agencies must write a short report before they propose a rule, and again before they publish the final rule if a proposal was made, whenever the rule is likely to create federal requirements that will cost state, local, or tribal governments or the private sector $100,000,000 or more in any one year (that dollar amount is adjusted each year for inflation). The report must say what law lets the agency make the rule; give both number and plain-word estimates of the rule’s costs and benefits, including effects on health, safety, and the environment; explain how much of the cost could be paid by federal aid and whether federal funds are available; estimate future compliance costs and any uneven budget impacts on regions, types of governments, communities, or parts of the private sector when accurate estimates are feasible; and, when useful and possible, estimate effects on the national economy (productivity, growth, jobs, and U.S. competitiveness). The report must also describe prior talks with elected leaders of affected governments, summarize their comments, and summarize the agency’s response to those comments. When the agency publishes the proposed or final rule, it must include a short summary of that report. The agency may prepare this report as part of another required analysis so long as it meets the rules above.