Regulatory Accountability Act of 2017

[AI summary unavailable — showing source text] Regulatory Accountability Act of 2017 Regulatory Accountability Act This bill amends the Administrative Procedure Act (APA) to revise and expand the requirements for federal agency rulemaking. Agencies must base all preliminary and final factual determinations on evidence and consider the legal authority under which the rule may be proposed, the specific nature and significance of the problem the agency may address with the rule, any reasonable alternatives for the rule, and the potential costs and benefits associated with such alternatives. The bill: requires agencies to publish advance notice of proposed rulemaking for major rules and for high-impact rules (rules having an annual cost on the economy of $100 million or $1 billion or more, respectively), for negative-impact-on-jobs-and-wages rules, and for rules that involve a novel legal or policy issue arising out of statutory mandates; sets forth criteria for issuing major guidance (agency guidance that is likely to lead to an annual cost on the economy of $100 million or more, a major increase in cost or prices, or significant adverse effects on competition, employment, investment, productivity, innovation, or ability to compet…