Executive Order 12291 Clause Samples
Executive Order 12291 is a regulatory policy directive that requires federal agencies to conduct cost-benefit analyses before issuing new regulations. In practice, this means agencies must evaluate the potential economic impact of proposed rules, justify their necessity, and ensure that the benefits outweigh the costs. By mandating this review process, the order aims to prevent unnecessary or overly burdensome regulations, promoting efficient and effective government oversight.
Executive Order 12291. Executive Order 12291 requires EPA to prepare a Regulatory Impact Analysis (RIA) for major regulations, which are defined by certain levels of costs and impacts. For example, the Executive Order specifies that a regulation imposing an annual cost and benefits to the economy of $100 million or more is considered ‘‘major’’ under the terms of the Order. According to the Executive Order, the RIA should contain descriptions of both potential costs and benefits. Based on EPA’s estimate of the incremental costs of complying with the final 40 CFR Part 503 regulation, the Agency does not consider the final 40 CFR Part 503 regulation to be a major rule as defined in Executive Order 12291. Hence, since this permit reflects only the provisions in the final 40 CFR Part 503 regulations, compliance with Signed this 15th day of October, 1996.