PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Congressional Research Service
Version 00 · Introduced in House · Mar 16, 2021
Providing Retrospective Observations Validating Economics and Increasing Transparency Act of 2021 or the PROVE IT Act of 2021
This bill requires agencies, when publishing a final major rule and biennially thereafter, to assess the impact of the rule on regulated entities, determine how the actual benefits and costs of the rule have varied from those anticipated, and assess the effectiveness of the rule at meeting its regulatory objectives.
If an agency determines that the cost to regulated entities has exceeded the anticipated cost, then the agency must assess and report whether the rule is meeting its objectives and whether the rule is necessary. Further, in such case, the agency must reopen the public comment period for 60 days and consider modifications or alternatives to the rule. The bill defines a major rule as a rule likely to cause (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based enterprises to compete with foreign-based enterprises.
People & committees
Rep. Graves, Garret [R-LA-6] · R–LA
Legislative record
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Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Referred to the House Committee on the Judiciary.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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Analyze H.R.1920 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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