Gulf Deregulation Act
Gulf Deregulation Act - Establishes the Gulf Deregulation Commission to: (1) identify federal, state, and local regulations that have the effect of impeding recovery and relief efforts in Hurrican Katrina or Hurricane Rita disaster areas; and (2) recommend the temporary suspension of a federal regulation, or part of one, for a maximum 18-month period if it impedes the reconstruction and recovery of any hurricane disaster area and imposes a restriction or mandate on public-sector, private-sector, or nonprofit activity.
Requires the President to suspend any federal regulation, as recommended by the Commission, unless Congress disapproves of such suspension.
Sets forth congressional procedures for consideration of a joint resolution disapproving the Commission's recommendations.
Allows reinstatement of a suspended regulation by its administering department or agency pursuant to a determination that the benefits of the reinstatement outweigh the costs. Subjects such determination to direction from or reversal by the President.
Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.