SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Congressional Office of Regulatory 
Analysis Act''.

SEC. 2. FINDINGS AND PURPOSES.

    (a) Findings.--Congress finds that--
            (1) Federal regulations can have a positive impact in 
        protecting the environment and the health and safety of all 
        Americans; however, uncontrolled increases in the costs that 
        regulations place on the economy cannot be sustained;
            (2) the legislative branch has a responsibility to see that 
        the laws it passes are properly implemented by the executive 
        branch;
            (3) effective implementation of chapter 8 of title 5 of the 
        United States Code (relating to congressional review of agency 
        rulemaking) is essential to controlling the regulatory burden 
        that the Government places on the economy; and
            (4) in order for the legislative branch to fulfill its 
        responsibilities under chapter 8 of title 5, United States 
        Code, it must have accurate and reliable information on which 
        to base its decisions.
    (b) Purpose.--The purpose of this Act is to establish a 
congressional office to provide Congress with independent, timely, and 
reasoned analyses of existing and anticipated Federal rules and 
regulations, including--
            (1) assessments of the need for, and effectiveness of, 
        existing and anticipated Federal rules and regulations in 
        meeting the mandates of underlying statutes;
            (2) statements of the existing and projected economic and 
        noneconomic impacts, including the impacts of reporting 
        requirements, of such rules and regulations; and
            (3) separate assessments of the effects of existing and 
        anticipated regulations on segments of the public, such as 
        geographic regions and small entities.

SEC. 3. ESTABLISHMENT OF OFFICE.

    (a) Establishment.--
            (1) In general.--There is established a Congressional 
        Office of Regulatory Analysis (hereafter in this Act referred 
        to as the ``Office''). The Office shall be headed by a 
        Director.
            (2) Appointment.--The Director shall be appointed by the 
        Majority Leader of the Senate and the Speaker of the House of 
        Representatives without regard to political affiliation and 
        solely on the basis of the Director's ability to perform the 
        duties of the Office.
            (3) Term.--The term of office of the Director shall be 4 
        years, but no Director shall be permitted to serve more than 3 
        terms. Any individual appointed as Director to fill a vacancy 
        prior to the expiration of a term shall serve only for the 
        unexpired portion of that term. An individual serving as 
        Director at the expiration of that term may continue to serve 
        until the individual's successor is appointed.
            (4) Removal.--The Director may be removed by a concurrent 
        resolution of Congress.
            (5) Compensation.--The Director shall receive compensation 
        at a per annum gross rate equal to the rate of basic pay for a 
        position at level III of the Executive Schedule under section 
        5314 of title 5, United States Code.
    (b) Personnel.--The Director shall appoint and fix the compensation 
of such personnel as may be necessary to carry out the duties and 
functions of the Office. All personnel of the Office shall be appointed 
without regard to political affiliation and solely on the basis of 
their fitness to perform their duties. The Director may prescribe the 
duties and responsibilities of the personnel of the Office, and 
delegate authority to perform any of the duties, powers, and functions 
of the Office or the Director. For purposes of pay (other than pay of 
the Director) and employment benefits, rights, and privileges, all 
personnel of the Office shall be treated as if they were employees of 
the Senate.
    (c) Experts and Consultants.--In carrying out the duties and 
functions of the Office, the Director may procure the temporary (not to 
exceed one year) or intermittent services of experts or consultants or 
organizations thereof by contract as independent contractors, or, in 
the case of individual experts or consultants, by employment at rates 
of pay not in excess of the daily equivalent of the highest rate of 
basic pay under the General Schedule of section 5332 of title 5, United 
States Code.
    (d) Relationship to Executive Branch.--
            (1) In general.--The Director is authorized to secure 
        information, data, estimates, and statistics directly from the 
        various departments, agencies, and establishments of the 
        executive branch of Government, including the Office of 
        Management and Budget, and the regulatory agencies and 
        commissions of the Government. All such departments, agencies, 
        establishments, and regulatory agencies and commissions shall 
        promptly furnish the Director any available material which the 
        Director determines to be necessary in the performance of the 
        Director's duties and functions (other than material the 
        disclosure of which would be a violation of law).
            (2) Services.--Upon agreement with the head of any such 
        department, agency, establishment, or regulatory agency or 
        commission--
                    (A) the Director may use the services, facilities, 
                and personnel with or without reimbursement of such 
                department, agency, establishment, or commission; and
                    (B) the head of each such department, agency, 
                establishment, or regulatory agency or commission is 
                authorized to provide the Office such services, 
                facilities, and personnel.
    (e) Relationship to Other Agencies of Congress.--In carrying out 
the duties and functions of the Office, and for the purpose of 
coordinating the operations of the Office with those of other 
congressional agencies with a view to utilizing most effectively the 
information, services and capabilities of all such agencies in carrying 
out the various responsibilities assigned to each, the Director is 
authorized to obtain information, data, estimates, and statistics 
developed by the General Accounting Office, Congressional Budget 
Office, and the Library of Congress, and (upon agreement with them) to 
utilize their services, facilities, and personnel with or without 
reimbursement. The Comptroller General, the Director of the 
Congressional Budget Office, and the Librarian of Congress are 
authorized to provide the Office with the information, data, estimates, 
and statistics, and the services, facilities, and personnel, referred 
to in the preceding sentence.
    (f) Appropriations.--There are authorized to be appropriated to the 
Office for fiscal years 1998 through 2006 such sums as may be necessary 
to enable the Office to carry out its duties and functions.

SEC. 4. RESPONSIBILITIES.

    (a) Transfer of Functions Under Chapter 8 From GAO to Office.--
            (1) Director's authority.--Section 801 of title 5, United 
        States Code, is amended by striking ``Comptroller General'' 
        each place it occurs and inserting ``Director of the Office''; 
        and
            (2) Definition.--Section 804 is amended by adding at the 
        end the following:
            ``(4) The term `Director of the Office' means the Director 
        of the Congressional Office of Regulatory Affairs established 
        under section 3 of the Congressional Office of Regulatory 
        Analysis Act.''.
            (3) Major rules.--
                    (A) Regulatory impact analysis.--In addition to the 
                assessment of an agency's compliance with the 
                procedural steps for major rules described under 
                section 801(a)(2)(A) of title 5, United States Code, 
                the Office shall conduct its own regulatory impact 
                analysis of such major rules. The analysis shall 
                include--
                            (i) a description of the potential benefits 
                        of the rule, including any beneficial effects 
                        that cannot be quantified in monetary terms and 
                        the identification of those likely to receive 
                        the benefits;
                            (ii) a description of the potential costs 
                        of the rule, including any adverse effects that 
                        cannot be quantified in monetary terms and the 
                        identification of those likely to bear the 
                        costs;
                            (iii) a determination of the potential net 
                        benefits of the rule, including an evaluation 
                        of effects that cannot be quantified in 
                        monetary terms;
                            (iv) a description of alternative 
                        approaches that could achieve the same 
                        regulatory goal at a lower cost, together with 
                        an analysis of the potential benefit and costs 
                        and a brief explanation of the legal reasons 
                        why such alternatives, if proposed, could not 
                        be adopted; and
                            (v) a summary of how these results differ, 
                        if at all, from the results that the 
                        promulgating agency received when conducting 
                        similar analyses.
                    (B) Time for report to committees.--Section 
                801(a)(2)(A) of title 5, United States Code, is amended 
                by striking ``15'' and inserting ``45''.
            (4) Nonmajor rules.--The Office shall conduct a regulatory 
        impact analysis, in accordance with paragraph (3)(A), of any 
        nonmajor rule, as defined in section 804(3) of title 5, United 
        States Code, when requested to do so by a committee of the 
        Senate or House of Representatives, or individual Senator or 
        Representative.
            (5) Priorities.--
                    (A) Assignment.--To ensure that analyses of the 
                most significant regulations occur, the Office shall 
                give first priority to, and is required to conduct 
                analyses of, all major rules, as defined in section 
                804(2) of title 5, United States Code. Secondary 
                priority shall be assigned to requests from committees 
                of the Senate and the House of Representatives. 
                Tertiary priority shall be assigned to requests from 
                individual Senators and Representatives.
                    (B) Discretion to director of office.--The Director 
                of the Office shall have the discretion to assign 
                priority among the secondary and tertiary requests.
    (b) Transfer of Certain Functions Under the Unfunded Mandates 
Reform Act of 1995 From CBO to Office.--
            (1) Cost of regulations.--Section 103 of the Unfunded 
        Mandates Reform Act of 1995 (2 U.S.C. 1511) is amended--
                    (A) in subsection (b), by striking ``the Director'' 
                and inserting ``the Director of the Congressional 
                Office of Regulatory Analysis''; and
                    (B) in subsection (c), by inserting after ``Budget 
                Office'' the following: ``or the Director of the 
                Congressional Office of Regulatory Analysis''.
            (2) Assistance to the congressional office of regulatory 
        analysis.--Section 206 of the Unfunded Mandates Reform Act of 
        1995 (2 U.S.C. 1536) is amended--
                    (A) by amending the section heading to read as 
                follows: ``sec. 206. assistance to the congressional 
                office of regulatory analysis.''; and
                    (B) in paragraph (2), by striking ``the Director of 
                the Congressional Budget Office'' and inserting ``the 
                Director of the Congressional Office of Regulatory 
                Analysis''.
    (c) Other Reports.--In addition to the regulatory impact analyses 
of major and nonmajor rules described under subsection (a), the Office 
shall issue an annual report on an estimate of the total cost of 
Federal regulations on the United States economy.

SEC. 5. EFFECTIVE DATE.

    This Act and the amendments made by this Act shall take effect 180 
days after the date of enactment of this Act.
Congressional Office of Regulatory Analysis Act - Establishes a Congressional Office of Regulatory Analysis.  Authorizes appropriations. 
Transfers to the Director of such Office (the Director) the functions of the Comptroller General with respect to congressional review of agency rulemaking. 
Requires the Office to conduct its own specified regulatory impact analysis of major rules. 
Extends the deadline by which the Director must report to appropriate congressional committees on each major rule from 15 to 45 calendar days after its submission to the Congress or publication in the Federal Register. 
Requires the Office to conduct a regulatory impact analysis of any nonmajor rule when requested to do so by a congressional committee or Member of Congress. 
Amends the Unfunded Mandates Reform Act of 1995 to:  (1) transfer functions of the Director of the Congressional Budget Office (CBO) to the Director with respect to the comparison between agency and CBO mandate cost estimates; and (2) require the Director of the Office of Management and Budget (OMB), at the request of the CBO Director or the Director, to cooperate in providing mandate cost estimates and related data. 
Directs the OMB Director to collect agency statements prepared under such Act for forwarding to the Director (currently the CBO Director) after promulgation of the general notice of proposed rulemaking or of the final rule for which the statement was prepared.
Congressional Office of Regulatory Analysis Act