On March 29, 1996, President Clinton signed Public Law 104-121, the Contract with America Advancement Act of 1996. Title II, the Small Business Regulatory Enforcement Fairness Act of 1996 ("Act"), among other things, added a new chapter 8 to Title 5 of the United States Code. Chapter 8 requires congressional review of agency regulations. Beginning March 29, 1996, all federal agencies, including independent agencies, are required to submit each final and interim final rule for review by Congress and to the General Accounting Office (GAO) before the final or interim final rule can take effect (hereinafter final and interim final rules will be collectively referred to as "rule").
In addition to a copy of the rule, agencies are required to submit a concise general statement relating to the rule and its proposed effective date (hereinafter referred to as a "report"). Further, when an agency submits a report, the agency is also to provide GAO and to make available upon request to each house of Congress (1) a complete copy of the cost-benefit analysis of the rule, if any; (2) information concerning the agency's actions under the Regulatory Flexibility Act; (3) information concerning the agency's actions under the Unfunded Mandates Reform Act; and (4) any other relevant information or requirements under any other law and any other Executive Order (hereinafter referred to as "required information").
Daniel Cohen & Peter L. Strauss,
Congressional Reviews of Agency Regulations,
Admin. L. Rev.
Available at: https://scholarship.law.columbia.edu/faculty_scholarship/273