During this first session of the
113th Congress, the House has passed legislation, by a vote of
223-183, increasing the accountability for and transparency in the federal
regulatory process. The Regulations from the Executive in Need of Scrutiny Act
(REINS), H.R. 367, would require Congress to take an up-or-down, stand-alone vote
on all new major regulations adopted by the SEC, CFTC and other federal
regulatory agencies before they can be enforced. Major regulations are defined
as those that have resulted in or are likely to result in an annual effect on
the economy of $100 million or more; a major increase in costs or prices, or
significant adverse effects on competition, employment, investment,
productivity, innovation, or U.S. competitiveness.
However, HR 367 allows a major
rule to take effect for 90 calendar days without such approval if the President
determines that the rule is necessary because of an imminent threat to health
or safety or other emergency, for the enforcement of criminal laws, for
national security, or to implement an international trade agreement.
H.R. 367 essentially replicates the text of the REINS Act as passed by the House during the 112th Congress. As a result, it includes revisions to the legislation, made during the Rules Committee's markup of the bill, which post-date the Committee's last review and markup of the legislation. These revisions principally refine the parliamentary procedures for introduction of, and consideration and floor action on, REINS Act approval resolutions. They serve to maximize the efficiency of the Act's parliamentary procedures and prevent undue incursions on floor time needed for other legislative business.
H.R. 367 essentially replicates the text of the REINS Act as passed by the House during the 112th Congress. As a result, it includes revisions to the legislation, made during the Rules Committee's markup of the bill, which post-date the Committee's last review and markup of the legislation. These revisions principally refine the parliamentary procedures for introduction of, and consideration and floor action on, REINS Act approval resolutions. They serve to maximize the efficiency of the Act's parliamentary procedures and prevent undue incursions on floor time needed for other legislative business.
The Act provides that no
determination, finding, action, or omission under the legislation will be
subject to judicial review. The measure does allow a court to determine whether
a federal agency has completed REINS Act requirements necessary for a rule to
take effect, a determination which would enable a court to determine if a suit
concerning the rule is ripe.
In addition, the enactment of a
joint resolution of approval cannot be interpreted to serve as a grant or
modification of statutory authority by Congress for the promulgation of a rule,
and cannot extinguish or affect any claim, whether substantive or procedural,
against any alleged defect in a rule, and cannot form part of the record before
the court in any judicial proceeding concerning a rule except for purposes of
determining whether or not the rule is in effect.