
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 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.
