A bill to amend title 5, United States Code, to improve the effectiveness of major rules in accomplishing their regulatory objectives by promoting retrospective review, and for other purposes.
Setting Manageable Analysis Requirements in Text Act of 2019 or the SMART Act of 2019
This bill requires agencies, when publishing a proposed or final major rule, to include a framework for assessing whether the rule achieves its regulatory objective. An agency must assess a rule in the time frame included in the framework. The assessment must compare the rule's anticipated and actual benefits and costs.
The bill defines a major rule as a rule likely to cause (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, health, safety, the environment, or the ability of U.S.-based enterprises to compete with foreign-based enterprises.
Introduced in Senate
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Committee on Homeland Security and Governmental Affairs. Ordered to be reported without amendment favorably.
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-86.
Committee on Homeland Security and Governmental Affairs Subcommittee on Regulatory Affairs and Federal Management. Hearings held. With printed Hearing: S.Hrg. 116-86.
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson without amendment. With written report No. 116-55.
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson without amendment. With written report No. 116-55.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 147.
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