What does Preamble of HR 572 do?

This bill, formally titled 'To prohibit the use of non-monetized or unqualified factors for regulatory analyses, and for other purposes,' aims to restrict the factors used in regulatory analyses. The bill was introduced in the House of Representatives on January 21, 2025, by Mr. Sessions and Ms. Hageman.

What does SHORT TITLE. of HR 572 do?

This bill is formally titled the Regulations Evaluated to Determine The Anticipated Price and Effect Act, also known as the RED TAPE Act.

What does FINDINGS. of HR 572 do?

This section establishes findings regarding agency decision-making processes. Agencies are directed to prioritize tangible, immediately quantifiable monetary benefits. Regulatory actions should yield clear and measurable financial benefits to both the public and private sectors. The findings emphasize minimizing unnecessary regulatory costs or burdens.

What does PROHIBITION ON NET BENEFIT DISCOUNTS; CONSIDERATION OF of HR 572 do?

This section amends Chapter 6 of Title 5 of the United States Code, concerning regulatory planning and review. It defines 'benefit-cost analysis' and 'regulatory impact analysis' by referencing specific Executive Orders and Office of Management and Budget Circulars. It prohibits agencies from considering non-monetized or unquantified factors in regulatory impact analyses or benefit-cost analyses. The Office of Management and Budget (OMB) is also prohibited from authorizing or considering such factors. Agencies must publish summaries and the full text of regulatory impact analyses and benefit-cost analyses in the Federal Register, including methodology and rationale. The Director of OMB must issue revised guidance to agencies within 90 days of enactment to ensure compliance. Parties affected by a rule that considered non-monetized factors can challenge it in court, and a court may invalidate the rule if a violation is found. The judicial review provisions apply to rules issued on or after November 9, 2023.

What does EFFECTIVE DATE. of HR 572 do?

This section establishes an effective date for the amendments made by section 3. The amendments will take effect 30 days after the enactment of this Act.

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RED TAPE Act — HR. 572

Last updated: 1/21/2025 · Introduced: 1/21/2025

Author: Pete Sessions (R-TX)

TL;DR (AI)

This bill restricts federal agencies and the Office of Management and Budget from using non-monetized or unquantified factors when conducting regulatory impact analyses or benefit-cost analyses.
Agencies must publish detailed analyses, including methodology and rationale, in the Federal Register, and the Director of OMB must provide updated guidance to agencies within 90 days of enactment.
Parties can challenge rules that violate these restrictions in court, potentially invalidating the rule if a violation is found, applying to rules issued on or after November 9, 2023.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 3 more.

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