Truth in Regulating Act of 2000

Truth in Regulating Act of 2000 - Provides that when a Federal agency publishes an economically significant rule, a chairman or ranking member of a committee of jurisdiction of either House of Congress may request the Comptroller General to review such rule. Defines "economically significant rule" to mean any proposed or final rule, including an interim or direct final rule, that may have an annual effect on the economy of $100 million or more or adversely affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, public health or safety, or State, local, or tribal governments or communities, or for which an agency has prepared an initial or final regulatory flexibility analysis.

Requires the Comptroller General to submit a report on each rule reviewed, including an independent evaluation of: (1) the costs and benefits; (2) alternative approaches that could achieve the same goal more cost-effectively or that could provide greater net benefits, and if applicable, a brief explanation of any statutory reasons why such alternatives could not be adopted; (3) the regulatory impact analysis, federalism assessment, or other analysis or assessment prepared by the agency or required for the rule; and (4) the results of the evaluation and the implication of those results, including an evaluation of any changes from the proposed rule made by the agency in the final rule. Requires the Comptroller General to develop procedures for determining the priority and number of requests for review which give the highest priority to requests regarding a notice of proposed rulemaking and to requests regarding an interim final rulemaking.

Authorizes appropriations for FY 2001 through 2003.

Provides that this Act shall not apply to rules published after three years after its effective date.