1. Short title This Act may be cited as the Reforming Executive Guidance Act of 2017 or as the REG Act of 2017 . 2. Congressional Review of Agency Rulemaking (a) Guidance Documents Paragraph (3) of section 804 of title 5, United States Code, is amended to read as follows: (3) The term rule — (A) has the meaning given such term in section 551, except that such term does not include (except as otherwise provided in subparagraph (B))— (i) any rule of particular applicability, including a rule that approves or prescribes for the future rates, wages, prices, services, or allowances therefor, corporate or financial structures, reorganizations, mergers, or acquisitions thereof, or accounting practices or disclosures bearing on any of the foregoing; (ii) any rule relating to agency management or personnel; or (iii) any rule of agency organization, procedure, or practice that does not substantially affect the rights or obligations of non-agency parties; and (B) includes guidance documents. . (b) Significant Guidance Documents Paragraph (2) of section 804 of such title is amended to read as follows: (2) The term major rule — (A) means any rule that the Administrator of the Office of Information and Regulatory Affairs of the Office of Management and Budget finds has resulted in or is likely to result in— (i) an annual effect on the economy of $100,000,000 or more; (ii) a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions; or (iii) significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets