§2204e Office of Risk Assessment and Cost-benefit Analysis

Summary

Create an Office of Risk Assessment and Cost-Benefit Analysis at the Department of Agriculture, run by a Director the Secretary picks. The Director must make sure any regulatory review has both a risk assessment and a cost-benefit study using sound, reasonably available scientific, technical, economic, and other data. Starting six months after October 13, 1994, for each proposed major rule from the Department that mainly deals with human health, safety, or the environment, the Department must publish a detailed analysis in the Federal Register. The analysis must describe the risk and its effects (including people who are more exposed or more sensitive), the costs to carry out and follow the rule, useful comparisons to similar risks when meaningful, and the benefits (numbers and descriptions), including how much risk the rule is expected to reduce. If a full analysis is not practical for strong reasons, the Director must explain why. The analysis should say whether the rule will protect against the risk and whether it will provide benefits and reduce risks in a cost-effective way for local, State, Federal, and private groups, based on the cost estimate. These requirements do not change other laws, do not allow court review or give people a right to sue, and must not delay rules required by law or court. A "major regulation" is one the Secretary expects will affect the U.S. economy by $100,000,000 a year in 1994 dollars.