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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 45 - Public Welfare |
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Subtitle B - Regulations Relating to Public Welfare |
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Chapter XI - National Foundation on the Arts and the Humanities |
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SubChapter D - National Endowment for the Humanities |
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Part 1173 - Processes and Procedures for Issuing Guidance Documents |
§ 1173.7 - Good faith cost estimates.
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§ 1173.7 Good faith cost estimates.
(a) NEH will, to the extent practicable, make a good faith effort to estimate the likely economic cost impact of the guidance document to determine whether the document might be significant.
(b) When assessing or explaining whether it believes a guidance document is significant, NEH will, at a minimum, provide the same level of analysis that would be required for a major determination under the Congressional Review Act.[2]
(c) When OMB's Office of Information and Regulatory Affairs (OIRA) determines that a guidance document will be economically significant, NEH will conduct and publish an assessment of the potential costs and benefits of the regulatory action (which may entail a regulatory impact analysis) of the sort that would accompany an economically significant rulemaking, to the extent reasonably possible.