SMART Act of 2024

The SMART Act of 2024 requires federal agencies to plan for and conduct post-implementation reviews of major regulations. It defines "major rules" as those with significant economic impact ($100 million+ annually), major cost increases, or substantial effects on health, safety, or competition. Agencies must create assessment frameworks before finalizing such rules and conduct reviews within 10 years to measure actual effects against predicted outcomes, including public input and cost-benefit analysis. These reviews must be published online, and agencies must justify any delays or exemptions. The law directly affects federal agencies issuing major regulations, adding a structured review process without altering the rules themselves.