H.R. 8296 would require federal agencies to report to the Government Accountability Office (GAO) whenever the agency revokes, suspends, replaces, amends, or makes ineffective a rule. Such reports must include a description of the provisions of the rule. The requirement would terminate in six years.

Because the bill would not impose a significant additional administrative burden on federal agencies or GAO, CBO estimates that implementing the legislation would cost less than $500,000 over the 2024-2029 period; any related spending would be subject to the availability of appropriated funds.

Enacting H.R. 8296 could affect direct spending by some agencies that are allowed to use fees, receipts from the sale of goods, and other collections to cover operating costs. CBO estimates that any net changes in direct spending by those agencies would be negligible because most of them can adjust amounts collected to reflect changes in operating costs.