§ 604. — Final regulatory flexibility analysis.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 5USC604]
TITLE 5--GOVERNMENT ORGANIZATION AND EMPLOYEES
PART I--THE AGENCIES GENERALLY
CHAPTER 6--THE ANALYSIS OF REGULATORY FUNCTIONS
Sec. 604. Final regulatory flexibility analysis
(a) When an agency promulgates a final rule under section 553 of
this title, after being required by that section or any other law to
publish a general notice of proposed rulemaking, or promulgates a final
interpretative rule involving the internal revenue laws of the United
States as described in section 603(a), the agency shall prepare a final
regulatory flexibility analysis. Each final regulatory flexibility
analysis shall contain--
(1) a succinct statement of the need for, and objectives of, the
rule;
(2) a summary of the significant issues raised by the public
comments in response to the initial regulatory flexibility analysis,
a summary of the assessment of the agency of such issues, and a
statement of any changes made in the proposed rule as a result of
such comments;
(3) a description of and an estimate of the number of small
entities to which the rule will apply or an explanation of why no
such estimate is available;
(4) a description of the projected reporting, recordkeeping and
other compliance requirements of the rule, including an estimate of
the classes of small entities which will be subject to the
requirement and the type of professional skills necessary for
preparation of the report or record; and
(5) a description of the steps the agency has taken to minimize
the significant economic impact on small entities consistent with
the stated objectives of applicable statutes, including a statement
of the factual, policy, and legal reasons for selecting the
alternative adopted in the final rule and why each one of the other
significant alternatives to the rule considered by the agency which
affect the impact on small entities was rejected.
(b) The agency shall make copies of the final regulatory flexibility
analysis available to members of the public and shall publish in the
Federal Register such analysis or a summary thereof.
(Added Pub. L. 96-354, Sec. 3(a), Sept. 19, 1980, 94 Stat. 1167; amended
Pub. L. 104-121, title II, Sec. 241(b), Mar. 29, 1996, 110 Stat. 864.)
References in Text
The internal revenue laws, referred to in subsec. (a), are
classified generally to Title 26, Internal Revenue Code.
Amendments
1996--Subsec. (a). Pub. L. 104-121, Sec. 241(b)(1), amended subsec.
(a) generally. Prior to amendment, subsec. (a) read as follows: ``When
an agency promulgates a final rule under section 553 of this title,
after being required by that section or any other law to publish a
general notice of proposed rulemaking, the agency shall prepare a final
regulatory flexibility analysis. Each final regulatory flexibility
analysis shall contain--
``(1) a succinct statement of the need for, and the objectives
of, the rule;
``(2) a summary of the issues raised by the public comments in
response to the initial regulatory flexibility analysis, a summary
of the assessment of the agency of such issues, and a statement of
any changes made in the proposed rule as a result of such comments;
and
``(3) a description of each of the significant alternatives to
the rule consistent with the stated objectives of applicable
statutes and designed to minimize any significant economic impact of
the rule on small entities which was considered by the agency, and a
statement of the reasons why each one of such alternatives was
rejected.''
Subsec. (b). Pub. L. 104-121, Sec. 241(b)(2), substituted ``such
analysis or a summary thereof.'' for ``at the time of publication of the
final rule under section 553 of this title a statement describing how
the public may obtain such copies.''
Effective Date of 1996 Amendment
Amendment by Pub. L. 104-121 effective on expiration of 90 days
after Mar. 29, 1996, but inapplicable to interpretative rules for which
a notice of proposed rulemaking was published prior to Mar. 29, 1996,
see section 245 of Pub. L. 104-121, set out as a note under section 601
of this title.
Section Referred to in Other Sections
This section is referred to in sections 605, 606, 607, 608, 611, 801
of this title; title 42 section 1302.
