(a)
In general— Before an agency may enter into a covered settlement agreement, the agency shall submit to Congress a report that includes—
(1)
information relating to each legal claim resolved by the covered settlement agreement;
(2)
the terms of the covered settlement agreement;
(3)
the class of claimants covered by the covered settlement agreement;
(4)
the total amount of the financial award to be paid under the covered settlement agreement;
(5)
the factual and legal basis for calculating the amount described in paragraph (4);
(6)
the factual and legal basis for modifying or altering each agency rule of the agency modified or altered under the covered settlement agreement; and
(7)
whether each modification or alteration of an agency rule described in paragraph (6) will require the agency to initiate rulemaking proceedings under section 553 of title 5, United States Code and the date those rulemaking proceedings will commence.
(b)
Receipt by Congress— Upon receipt of a report from an agency under subsection (a), each House shall provide a copy of the report to the chairman and ranking member of the standing committee with jurisdiction over the agency and the operating budget of the agency.
(c)
Joint resolution— Not later than 60 days after the date on which Congress receives a report under subsection (a), Congress may pass a joint resolution of disapproval of the covered settlement agreement that is the subject of the report in accordance with section 4.
(d)
Effect of joint resolution— If Congress passes a joint resolution of disapproval relating to a covered settlement agreement in accordance with section 4, the agency may not—
(1)
pay a financial award under the covered settlement agreement using amounts otherwise appropriated by Congress; or
(2)
modify or alter an agency rule of the agency under the covered settlement agreement without complying with the rulemaking requirements under section 553 of title 5, United States Code.
(e)
Waiting period— Subject to subsection (f), an agency may enter into a covered settlement agreement as otherwise provided by law if, on the date that is 60 days after the submission date, Congress has not passed a joint resolution of disapproval relating to the covered settlement agreement.
(f)
End of session submission— In addition to the opportunity for Congress to review a covered settlement agreement as otherwise provided under this Act, in the case of any covered settlement agreement for which a report is submitted in accordance with subsection (a) during an end of session period—
(1)
section 4 shall apply to the covered settlement agreement in the succeeding session of Congress; and
(2)
in applying section 4 for purposes of such additional review, the covered settlement agreement shall be treated as though a report on such covered settlement agreement were submitted to Congress under subsection (a) on, with respect to the date on which the succeeding session of Congress first convenes—
(A)
in the case of the Senate, the 15th session day after that date; or
(B)
in the case of the House of Representatives, the 15th legislative day after that date.