Modernizing Retrospective Regulatory Review Act

Bill 119 s 644, also known as the "Improving Retrospective Reviews of Federal Regulations Act," aims to enhance the process of reviewing and evaluating existing federal regulations. The bill seeks to streamline and improve the retrospective review process by requiring federal agencies to conduct regular assessments of the effectiveness and impact of regulations that have been in place for a certain period of time.

The main goal of the bill is to ensure that federal regulations are achieving their intended objectives in a cost-effective manner. By requiring agencies to periodically review and assess the impact of regulations, the bill aims to identify any regulations that may be outdated, ineffective, or overly burdensome. This will help to promote regulatory efficiency and effectiveness, while also reducing unnecessary regulatory burdens on businesses and individuals.

In addition to improving the retrospective review process, the bill also includes provisions to enhance transparency and public participation in the regulatory process. It requires agencies to provide opportunities for public input and feedback on regulations under review, as well as to publish the results of retrospective reviews in a timely manner. Overall, Bill 119 s 644 seeks to promote good governance and regulatory reform by enhancing the process of reviewing and evaluating federal regulations. By requiring agencies to regularly assess the impact and effectiveness of regulations, the bill aims to ensure that regulations are achieving their intended objectives while minimizing unnecessary burdens on the economy and society.