Regulatory Agency Self-Destruct Act

[AI summary unavailable — showing source text] Regulatory Agency Self-Destruct Act - Provides that each Federal regulatory agency is abolished as of noon July 4, 1976, unless, prior to such date: (1) the President conducts an investigation of the agency's overall performance (including, but not limited to a study of the agency's effectiveness in accomplishing its general purposes and promoting the public welfare), makes public a report on the findings of the investigation and recommends to the Congress that such agency or agencies should not be abolished; (2) the relevant committee or committees of the House and Senate conduct an inquiry into the performance and effectiveness of the agency or agencies and make public a report of such findings, conclusions, and recommendations; and (3) the Congress adopts a concurrent resolution disapproving the abolition of the agency or agencies. Defines "Federal regulatory agency" to mean any of the following: (1) the Civil Aeronautics Board; (2) the Federal Communications Commission; (3) the Federal Maritime Commission; (4) the Federal Power Commission; (5) the Federal Trade Commission; (6) the Interstate Commerce Commission; (7) the Securities and Exchange Commission; (8) the Consumer Produ…