Determining if Regulatory Actions are in the Interest of the Nation or the Swamp Act of 2017
A BILL
To amend chapter 5 of title 31, United States Code, to require publication of information relating to regulatory conflicts of interest, and for other purposes.
Sec. 2 Requiring Greater Transparency for Regulatory Conflicts of Interest
“6A Publication of Information Relating to Regulatory Conflicts of Interest
“651. Agency Submission to Comptroller General
“(a) Regulatory Conflicts of Interest—The head of each agency shall submit to the Comptroller General of the United States in such a manner as the Comptroller General may reasonably require, for each major rule that the agency proposes or finalizes, an assessment and quantification of any regulatory conflict of interest pertaining to that major rule.
“(b) Exception—Nothing in this chapter shall apply to rules which an agency for good cause finds (and incorporates the finding and a brief statement of reasons therefor in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest.
“(c) Major rules—Before a major rule may take effect, the Federal agency promulgating such rule shall submit to the Comptroller General and publish in the Federal Register a report pursuant to subsection (a).
“652. Definitions
“In this chapter:
“(1) Agency; rule; rule making—The terms agency, rule, and rule making have the meanings given those terms in section 551 of title 5, United States Code.
“(2) Major rule—The term major rule has the meaning given that term in section 804 of title 5, United States Code.
“(3) Regulatory conflict of interest—The term regulatory conflict of interest means a major rule that has a substantial pecuniary benefit to a covered person.
“(4) Covered person—The term covered person means the President, senior advisors to the President, including special advisors that do not receive an official salary, the head of the agency issuing the rule, the director of the Office of Management and Budget, the Administrator of the Office of Information and Regulatory Affairs, or any individual who serves on a Regulatory Reform Task Force established by section 3 of Executive Order 13777.”