Contract with America bill

Amends Federal civil service law to revise Federal provisions regarding judicial review of regulatory flexibility analyses.

(Sec. 1) Authorizes an affected small entity to petition for judicial review within 180 days after the effective date of a final rule which an agency certified would not have a significant economic impact on a substantial number of small entities or for which an agency prepared a final regulatory flexibility analysis.

Specifies that, where a provision of law requires that an action challenging a final agency regulation be commenced before the expiration of such 180 day period, such lesser period shall apply to a petition for judicial review.

Requires that, where an agency delays the issuance of a final regulatory flexibility analysis, a petition for judicial review shall be filed not later than: (1) 180 days after the analysis is made available to the public; or (2) a lesser number of days specified by a provision of law that requires that an action challenging a final agency regulation be commenced before the expiration of such 180 day period.

Authorizes the court, where the agency: (1) certified that such rule would not have a significant economic impact on a substantial number of small entities, to order the agency to prepare a final regulatory flexibility analysis if the court determines that the certification was arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law; and (2) prepared a final regulatory flexibility analysis, to order the agency to take corrective action if the court determines that the analysis was prepared without observance of proper procedure.

Authorizes the court to stay the rule or grant such other relief as appropriate, if by 90 days after the court order (or such longer period as the court may provide) the agency fails to prepare the required analysis or to take corrective action.

(Sec. 2) Sets forth guidelines governing agency transmittal of proposed rules and initial regulatory flexibility analyses to the Chief Counsel for Advocacy of the Small Business Administration (SBA). Authorizes such official to transmit to the agency a statement of the effect of the proposed rule on small entities. Requires publication of such statement and the agency's response in the Federal Register.

Exempts from this required review by the SBA Chief Counsel for Advocacy any proposed rules issued by an appropriate Federal banking agency, the National Credit Union Administration, or the Office of Federal Housing Enterprise Oversight to: (1) implement monetary policy; (2) ensure the safety and soundness of federally insured depository institutions (or affiliates), credit unions, or government sponsored housing enterprises; or (3) protect the Federal deposit insurance funds.

(Sec. 3) Expresses the sense of the Congress that the SBA Chief Counsel for Advocacy should be permitted to appear as amicus curiae in any action or case brought in a U.S. court for the purpose of reviewing a rule.