Regulatory Reform Act of 1981

Regulatory Reform Act of 1981 - Amends the Administrative Procedure Act to require the notice of proposed agency rulemaking to include: (1) an agency solicitation for public proposals for alternative methods of achieving the regulatory objective; (2) a description of the data on which the agency will rely in the rulemaking; and (3) a determination of whether the rule is a "major rule" as defined in this Act. Directs each agency to publish with such notice: (1) a description of the costs and benefits of and alternatives to the proposed rule; and (2) a justification for proposing the rule and selecting it over the alternatives.

Requires agencies to give interested persons at least 60 days to submit written comments on any proposed rule, and oral comments on major rules. Provides for a 30-day extension of such period.

Directs each agency to publish with each final rule a statement of the basis and purpose of the rule which includes an assessment of the public comments on the rule and a comparison of the costs, benefits, and adverse effects of the rule.

Requires an agency officer or employee to prepare the rulemaking notice and the statement of the basis and purpose of a rule.

Directs each agency to maintain a public file of the paperwork and comments pertaining to each rulemaking proceeding, which shall constitute the rulemaking record for purposes of judicial review.

Allows an agency to promulgate an emergency rule without meeting the notice and comment requirements under such Act. Directs any such agency: (1) to publish an explanation of the situation requiring the rule and a justification of the rule selected; and (2) to comply with normal rulemaking requirements with respect to such rule as soon as practicable.

Requires each agency to review each of its major rules every ten years to determine whether to renew, amend, or rescind each rule. Directs each agency to: (1) publish and submit to the President a proposed review schedule; and (2) publish a final schedule within one year after enactment of this Act. for review.

Directs each agency to publish a notice of its proposed action regarding a rule being reviewed. Requires that the notice: (1) assess the costs, benefits, and adverse effects of the rule; and (2) invite public proposals for modifications or alternatives to the rule. Requires an agency to follow normal rulemaking procedures when amending or rescinding a rule. Specifies procedures for renewing a rule without amendment.

Directs a court reviewing an agency action to: (1) set aside any agency rule found to lack substantial support in the rulemaking file; (2) determine the authority or jurisdiction of the agency on the basis of the language of the authorizing statute or other evidence of legislative intent; and (3) accord no presumption in favor of or against agency action.

Declares that when proceedings for review of the same agency action are instituted in two or more courts of appeals within ten days, the Administrative Office of the United States Courts shall select at random the court in which the in which the record shall be filed. Authorizes the courts not selected to grant preliminary relief pending transfer of their proceedings.

Requires each agency to publish in the Federal Register, semiannually: (1) an agenda of the rules the agency expects to propose, promulgate, renew, or withdraw within the next 12 months, including a schedule of the significant actions pertaining to each rule; and (2) a Calendar of Federal Regulations listing each of the major rules included in the agenda.