Rule Making Information Act of 1986

Rule Making Information Act of 1986 - Requires a Federal agency, at any time it takes action to consider whether to initiate a rulemaking, to establish a file on such rulemaking.

Requires employees designated by the President to review proposed or final rules for regulatory impact to provide the appropriate agency with a written summary of any contact with a person outside the Government with respect to such rules. Limits such requirement to contact which provides a basis for a written or oral recommendation or comment.

Sets forth provisions for public inspection of files and for publishing notices in the Federal Register.

Requires each agency to: (1) annually publish in the Federal Register the status of its proposed rules that were not published; and (2) maintain a file, for public inspection, which records dates that rules were submitted for executive review and dates such rules were returned.

Requires each agency to make available for public inspection and copying any draft or final regulatory program submitted for executive review. Limits the period for such review to 30 days after receipt of the proposed or final rule, and allows an extension of no more than 30 additional days.