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What is a Major Rule? A Comprehensive Legal Overview
Definition & meaning
The term major rule refers to any regulation that has a significant impact on the economy. Specifically, it is defined as a rule that the Administrator of the Office of Information and Regulatory Affairs (OIRA) determines has led to, or is likely to lead to, one or more of the following:
An annual economic effect of $100,000,000 or more.
A substantial increase in costs or prices for consumers, industries, government agencies, or regions.
Significant negative impacts on competition, employment, investment, productivity, innovation, or the ability of U.S. businesses to compete with foreign companies.
It is important to note that this definition excludes any rules created under the Telecommunications Act of 1996 and its amendments.
Table of content
Legal use & context
Major rules are primarily relevant in the context of federal regulations and administrative law. They are used by government agencies to assess the potential economic impact of new regulations. Understanding major rules is crucial for businesses, policymakers, and legal practitioners, as these rules can affect a wide range of sectors, including environmental law, labor regulations, and public health.
Individuals and businesses may need to navigate these rules when responding to regulatory changes or when preparing legal documents. US Legal Forms offers templates that can assist users in managing these requirements effectively.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A new environmental regulation that requires industries to reduce emissions significantly may be classified as a major rule if it is expected to cost businesses over $100 million annually.
Example 2: A federal regulation increasing the minimum wage across the country could also be considered a major rule due to its substantial economic impact on employers and employees (hypothetical example).
Relevant laws & statutes
The definition of major rule is primarily derived from the Administrative Procedure Act and specifically referenced in 5 USCS § 804. This statute outlines the criteria for determining what constitutes a major rule and the process for its review.
Comparison with related terms
Term
Definition
Key Differences
Major Rule
A regulation with significant economic impact.
Focuses on economic thresholds and competitive effects.
Minor Rule
A regulation with limited economic impact.
Does not meet the economic thresholds set for major rules.
Proposed Rule
A regulation suggested for public comment before finalization.
Not yet enacted; may become a major rule if it meets criteria.
Common misunderstandings
What to do if this term applies to you
If you are affected by a major rule, consider the following steps:
Review the rule's implications for your business or personal situation.
Consult with a legal professional to understand your rights and responsibilities under the new regulation.
Explore US Legal Forms for templates that may help you comply with the new requirements.
For complex issues, seeking professional legal advice is recommended.
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