Regulatory Reform Act of 2012
Regulatory Reform Act of 2012 - Directs the Administrator of the Office of Information and Regulatory Affairs in the Office of Management and Budget (OMB), not later than October 1 every four years, to post online and submit to Congress a report to be known as the Federal Regulatory Reform Report. Requires such Report to contain: (1) a list of rules that are determined to be outmoded, duplicative, ineffective, or excessively burdensome; (2) a list of recommendations to consolidate, modify, simplify, or repeal such rules and a description of the justification for and impact of such recommendations; and (3) an analysis of how the costs of such rules outweigh their benefits.
Directs the Administrator to: (1) use certain resources such as agency action plans, agency reports, and executive orders in preparing the Report; (2) publish the Report in the Federal Register for public notice and comment at least 60 days before its submission to Congress; and (3) consult with the President, relevant committees of Congress, and other federal officials before submitting the Report.
Requires the President to submit to Congress a legislative proposal for carrying out all or some of the recommendations contained in the Report. Sets forth congressional procedures for consideration of the President's proposal.
Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.