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Limiting Unfunded Costs of New Federal Regulations

This act establishes annual limits on new costs that federal agencies can impose on states, local governments, and businesses through new regulations. It aims to control the financial burden of regulations by requiring Congressional approval if these limits are exceeded. Citizens may indirectly benefit from reduced financial burdens through more stable public finances and lower business costs.
Key points
The federal government will set yearly caps on new costs that agencies can impose on states, local governments, and businesses through new rules.
Rules exceeding these caps will require special Congressional approval, increasing oversight of regulatory spending.
The goal is to reduce financial burdens on citizens and businesses stemming from federal regulations.
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Expired
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Additional Information
Print number: 118_HR_7867
Sponsor: Rep. Fallon, Pat [R-TX-4]
Process start date: 2024-04-05
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

REG Budgeting Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7867.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-04-05.

What are the main provisions?

Key points include:

  • The federal government will set yearly caps on new costs that agencies can impose on states, local governments, and businesses through new rules.
  • Rules exceeding these caps will require special Congressional approval, increasing oversight of regulatory spending.
  • The goal is to reduce financial burdens on citizens and businesses stemming from federal regulations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Fallon, Pat [R-TX-4].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 736.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-13.

CATEGORIES

Economy Local Government