Increased Regulatory Transparency: Disclosing Conflicts and Prioritizing Social Equity.
This Act aims to reduce corporate influence on federal rulemaking by increasing transparency and agency accountability. It mandates the disclosure of funding sources for scientific studies submitted to agencies and imposes high penalties on companies that submit false information. It also establishes a Public Advocate to facilitate citizen participation and ensure regulations consider social equity impacts.
Key points
Funding Disclosure: Companies must disclose who funded the scientific, economic, or technical studies they submit to agencies to influence new regulations.
Penalties for False Data: Publicly traded companies knowingly submitting false or misleading information to agencies face high civil penalties (starting at $250,000).
Public Advocate Office: A new office is created to help citizens participate in rulemaking and assess how new regulations will affect different social groups (social equity).
Status:
Expired
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