A bill to amend the Administrative Procedure Act to allow affected parties a fair opportunity to comment upon notice of proposed rulemaking published in the Federal Register, to allow for the orderly extension of time for the filing of comments and for the holding of hearings regarding contested matters, and to assure affected parties of full and fair opportunity to comment upon Federal agency rulemaking.

Amends the Administrative Procedure Act to extend the hearing requirements thereof to rulemaking with respect to public property, loans, grants, benefits, or contracts. Requires Federal agencies to wait at least 60 days after publishing a notice of intention to promulgate a new rule to afford any interested person an opportunity to comment on such proposed rule. Requires an agency to hold public rulemaking hearings upon the request of any interested party and automatically extends the time for submission of comments upon a proposed rule for a period of thirty days upon request unless such extention is contrary to the public interest and the agency notifies the requesting party and Congress to that effect. Directs such agency to respond directly to comments made regarding such rulemaking in its statement of basis and purpose which accompanies the rule as it is finally adopted.

States that the rules for publication of proposed rules set forth in this Act apply with equal force and effect to the publication of rules which have been modified substantially following their initial publication as proposed rules and which, if published as final rules, would deny interested parties the opportunity to comment on new or substantially modified matter within the rule.