State and Local Government Mandate Reduction and Regulatory Compensation Act of 1980

[AI summary unavailable — showing source text] State and Local Government Mandate Reduction and Regulatory Compensation Act of 1980 - Defines the term "major rule" as any agency rule which the agency estimates will have an annual effect on the economy of $100,000,000 or more or otherwise will have a major impact, excluding rules to implement internal revenue laws. Directs an agency, whenever it is required to publish general notice of proposed rulemaking for a major rule, to prepare and make available to the public an initial regulatory analysis which: (1) describes the need for the rule; (2) identifies existing rules which the proposed rule may duplicate, overlap, or affect; and (3) describes the costs of the rule and the portion of such costs that will be incurred by the Federal Government and State and local governments. Requires the agency: (1) to provide 60 days for public comment on each proposed major rule; (2) to prepare and make available to the public for each adopted major rule a final regulatory analysis which includes a summary of the public comments received on the initial analysis and the agency's responses to such comments; and (3) within one year after the effective date of a major rule, to transmit to the Chai…