Regulatory Conflicts Elimination Act

Regulatory Conflicts Elimination Act - Requires the Director of the Office of Management and Budget to submit to the President, Congress and the head of each independent agency an annual report which: (1) identifies duplicative or conflicting rules and regulations promulgated by executive departments, independent agencies, and State and local governments; (2) determines the costs of compliance with those rules; and (3) makes recommendations for modifying or eliminating those rules.

Requires each head of an independent agency and the President to transmit to Congress and the Comptroller General recommendations for changing the conflicting or duplicative rules promulgated by the agency or executive department, and to implement such recommendations 60 days after transmittal unless Congress passes a concurrent resolution disapproving those recommendations.

Requires the Comptroller General, within 30 days after the receipt of such report, to submit a review of such report to Congress.

Directs the President to formulate the criteria for determining the costs of compliance with Federal rules and regulations.