S.1538 - Regulatory Time-Out Act of 2011

A bill to provide for a time-out on certain regulations, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to provide for a time-out on certain regulations, and for other purposes. as introduced.
  • Short: Regulatory Time-Out Act of 2011 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
09/12/11
 
 
 
 
 
 
 

Sponsor

Senator

Susan Collins

R-ME

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Official Summary

Regulatory Time-Out Act of 2011 - Suspends the effective date of certain covered regulations for one-year beginning on the enactment of this Act.  Defines a \"covered regulation\" as a final regulation that did not take effect before September 1, 2011, that increases costs on businesses in

Official Summary

Regulatory Time-Out Act of 2011 - Suspends the effective date of certain covered regulations for one-year beginning on the enactment of this Act.  Defines a \"covered regulation\" as a final regulation that did not take effect before September 1, 2011, that increases costs on businesses in a manner that will have an adverse effect on job creation, job retention, productivity, competitiveness, or the efficient functioning of the economy, and that is likely to:
(1) have an annual effect on the economy of $100 million or more;
(2) adversely affect in a material way the economy, productivity, competition, jobs, the environment, public health or safety, or state, local, or tribal governments or communities;
(3) create a serious inconsistency or otherwise interfere with an action by another agency;
(4) materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients; or
(5) raise novel legal or policy issues. Allows agency heads to exempt covered regulations that:
(1) are necessary due to an imminent threat to human health or safety or any other emergency;
(2) are necessary to enforce criminal laws, 
(3) foster private sector job creation;
(4) encourage economic growth;
(5) reduce regulatory burdens;
(6) pertain to a military or foreign affairs function; or
(7) are limited to interpreting, implementing, or administering the Internal Revenue Code.

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