Federal Agency Rulemaking Improvements Act

Federal Agency Rulemaking Improvements Act - Requires each Federal agency to include in the general notice of a proposed rule an explanation of the need for such rule, and a justification of the selection of such rule over alternative proposals.

Directs each agency to prepare an economic impact analysis of each proposed rule, and to make such analysis available to the public.

Requires the head of each agency to include in the publication of a final rule in the Federal Register a statement that such rule is clearly stated and does not conflict with or unnecessarily duplicate an existing rule.

Directs each agency to prescribe rules designed to carry out the requirements of this Act. Establishes the Interagency Review Committee to review such rules and to report its findings to Congress.

Directs each agency to review each rule prescribed by such agency within five years of the date such rule is prescribed and once every five years thereafter.

Requires each agency to publish in the Federal Register: (1) every two years, a listing of the regulatory priorities of such agency; and (2) at least twice a year, an agenda of the rules to be considered by such agency.

States that any person may file a petition for judicial review in a United States circuit court if any agency fails to comply with any procedural requirement of this Act.