Regulatory Agency Review Act

[AI summary unavailable — showing source text] Regulatory Agency Review Act - Sets forth the findings of Congress that some Federal regulatory agencies have unduly interferred with business and the economy. Declares the purpose of this Act is to terminate Federal regulatory agencies unless the President and the Congress determine that such agencies should not be terminated. Defines the terms used in this Act. Sets forth procedures to determine which agencies or functions of agencies are regulatory in nature and subject to termination by this Act. Terminates all Federal regulatory agencies and regulatory functions of other agencies three years from the date of enactment of this Act unless Congress and the President act to continue such agency. Terminates all regulatory agencies created after the enactment of this Act and regulatory functions transferred to other agencies after the enactment of this Act five years after such creation or transfer unless the President and Congress act to continue such agency or function. States that any such continued agency or function shall terminate five years later unless again continued. Directs the President to conduct a study of agencies and functions subject to termination and to recommend …