Bill > HR3279

This bill establishes a comprehensive regulatory budgeting system where the Director of the Office of Management and Budget (OMB) must set annual limits on the total amount of "unfunded regulatory costs" that federal agencies can impose. Each fiscal year, agencies must propose their own limits for additional regulatory costs, and these proposals require congressional approval. The bill mandates that agencies cannot finalize rules that would exceed their established cost limits without specific congressional authorization, with exceptions for emergency, national security, or law enforcement rules. Agencies must publicly disclose when a proposed rule might exceed their regulatory cost limit, including justifications and potential alternatives. The legislation also creates a new position of Associate Administrator for Regulatory Budgeting to oversee these requirements and requires an annual report to Congress detailing compliance. An "unfunded regulatory cost" is defined as a new mandatory expense imposed by a federal rule that was not previously required, with specific guidelines for calculating and tracking these costs. The bill aims to create more fiscal accountability and transparency in the federal regulatory process, ensuring that new regulations do not impose excessive financial burdens on individuals and entities without explicit congressional review and approval.

Government Affairs

https://www.congress.gov/bill/119th-congress/house-bill/3279/all-info