110 STAT. 868 PUBLIC LAW 104-121 —MAR. 29, 1996 record a written finding, with reasons therefor, that those requirements would not advance the effective participation of small entities in the rulemaking process. For purposes of this subsection, the factors to be considered in making such a finding are as follows: "(1) In developing a proposed rule, the extent to which the covered agency consulted with individuals representative of affected small entities with respect to the potential impacts of the rule and took such concerns into consideration. "(2) Special circumstances requiring prompt issuance of the rule. "(3) Whether the requirements of subsection (b) would provide the individuals identified in subsection (b)(2) with a competitive advantage relative to other small entities.". 5 USC 609 note. (b) SMALL BUSINESS ADVOCACY CHAIRPERSONS. — Not later than 30 days after the date of enactment of this Act, the head of each covered agency that has conducted a final regulatory flexibility analysis shall designate a small business advocacy chairperson using existing personnel to the extent possible, to be responsible for implementing this section and to act as permanent chair of the agency's review panels established pursuant to this section. 5 USC 601 note. SEC. 245. EFFECTIVE DATE. This subtitle shall become effective on the expiration of 90 days after the date of enactment of this subtitle, except that such amendments shall not apply to interpretative rules for which a notice of proposed rulemaking was published prior to the date of enactment. Subtitle E—Congressional Review SEC. 251. CONGRESSIONAL REVIEW OF AGENCY RULEMAKING. Title 5, United States Code, is amended by inserting immediately after chapter 7 the following new chapter: "CHAPTER 8—CONGRESSIONAL REVIEW OF AGENCY RULEMAKING "Sec. "801. Congressional review. "802. Congressional disapproval procedure. "803. Special rule on statutory, regulatory, and judicial deadlines. "804. Definitions. "805. Judicial review. "806. Applicability; severability. "807. Exemption for monetary policy. "808. Effective date of certain rules. "§ 801. Congressional review Reports. "(a)(1)(A) Before a rule can take effect, the Federal agency promulgating such rule shall submit to each House of the Congress and to the Comptroller General a report containing— "(i) a copy of the rule; "(ii) a concise general statement relating to the rule, including whether it is a major rule; and "(iii) the proposed effective date of the rule. "(B) On the date of the submission of the report under subparagraph (A), the Federal agency promulgating the rule shall submit to the Comptroller General and make available to each House of Congress—
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