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Regulations and Assessments

Regulations and Assessments

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Major rule (as designated by Office of Management and Budget) Any rule that is likely to result in: (1) An annual effect on the economy of $100 million or more; (2) a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets. (Source: Congressional Review Act of 1996, also known as the Small Business Regulatory Enforcement Fairness Act.) Any rule designated by OMB as economically significant will also be considered a major rule under this act.

Last Modified: July 14, 2008