Smarter Regs Act of 2015

[AI summary unavailable — showing source text] Smarter Regulations Through Advance Planning and Review Act of 2015 or the Smarter Regs Act of 2015 Requires a federal agency, when publishing a proposed or final major rule in the Federal Register, to include a framework for reassessing the rule, which shall include: (1) a clear statement of its regulatory objectives, including the societal benefit and cost; (2) the methodology by which the agency plans to analyze it, including metrics for measuring its effectiveness and benefits and its impacts on regulated entities; (3) a plan for gathering data regarding such metrics on an ongoing basis or periodically during its implementation; and (4) a specific time frame, not exceeding 10 years, for conducting such reassessment. Defines "major rule" as any rule that the Office of Information and Regulatory Affairs (OIRA) finds has resulted in or is likely to result in: (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices for consumers, individual industries, government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based ente…