Administrative Rulemaking Reform Act of 1981

Administrative Rulemaking Reform Act of 1981- Directs a Federal agency preparing to hold a rulemaking session to make a reasonable effort to inform those likely to be affected by the proposed rulemaking.

Requires the notice of rulemaking to include: the projected effective date of the rules; the purpose of the rulemaking; the text of the proposed rules; and the studies on which the agency intends to rely in the rulemaking proceedings.

Requires public notice and public opportunity for comment on all rulemaking proceedings unless the agency finds that proposed rules are emergency rules or are of routine or insignificant impact.

Requires Federal agencies to give interested persons at least 45 days to participate in the rulemaking. Provides for agency hearings to receive oral comments, and procedures to resolve significant controversies over factual issues. Requires each agency to maintain a public file of all relevant material and required statements for each rulemaking. Prohibits adoption of a proposed rule that has been revised substantially unless interested persons are provided an opportunity to comment on such revisions. Sets forth an expedited rulemaking procedure for rules to replace emergency rules.

Directs each agency to submit a copy of each promulgated rule to each House of Congress. Declares that no rule, excluding an emergency rule, shall become effective if: (1) both Houses of Congress adopt a concurrent resolution disapproving it within 90 days of continuous session of Congress; or (2) one House adopts such a resolution within 60 such days and the other House does not disapprove such resolution within 30 days thereafter.

Authorizes either House to adopt a resolution directing an agency to reconsider and repromulgate a newly promulgated rule or an existing rule within a specified period, or else the rule shall lapse.

Directs the Administrative Conference of the United States to study and report on the effects on rulemaking of the Congressional review provisions of this Act. Authorizes appropriations for such study.

Directs a court reviewing an agency rule to set aside any rule found to be unwarranted by material in the rulemaking file.