Regulation Costs to America Act

In general— The Comptroller General of the United States shall conduct an annual study of the total costs of Federal regulations.

Requirement— In conducting the study required under subsection (a), the Comptroller General of the United States shall use a methodology substantially similar to the methodology used in conducting the study described in the report entitled “The Impact of Regulatory Costs on Small Firms” (September 2010), prepared on behalf of the Office of Advocacy of the Small Business Administration.

Report— Not later than 1 year after the date of enactment of this Act, and every year thereafter, the Comptroller General of the United States shall submit to Congress a report on the findings of the study conducted under subsection (a), which shall include an estimate of the total annual costs of Federal regulations by agency, as such term is defined in section 551 of title 5, United States Code.

Funding— The General Accountability Office shall carry out this section using unobligated funds otherwise made available to the General Accountability Office.

Sense of Congress— It is the sense of Congress that no additional funds should be made available to carry out this section.