Zero Based Regulations Act

The Zero Based Regulations Act requires federal agencies to review 20% of their regulations annually, repeal each regulation under review before analysis, and conduct a retrospective assessment to evaluate if the rule achieves its goals, justifies costs, and has less restrictive alternatives. For new regulations, agencies must repeal or significantly simplify an existing rule (unless mandated by law), conduct a cost-benefit analysis, hold public hearings, and ensure new rules cost no more than 70% of the original rule's cost. The bill also designates an "administrative rules coordinator" in each agency to oversee implementation and mandates ongoing reviews of new rules every five years. This law applies to all federal agencies that issue regulations under the Code of Federal Regulations.