; and (2) by striking paragraph (2). 315. Cost-benefit analysis (a) Definitions In this section, the terms agency and regulation have the meanings given those terms in section 3 of Executive Order 12866 ( 5 U.S.C. 601 note; relating to regulatory planning and review). (b) Requirement If an agency is performing a cost-benefit analysis in the course of issuing a regulation, the agency shall— (1) take into account the benefits of the regulation to the public, including the nonquantifiable benefits of the regulation; and (2) adopt a regulation that prioritizes benefits to the public, including nonquantifiable benefits. 316. Sense of Congress It is the sense of Congress that— (1) the Federal Employees Pay Comparability Act of 1990 (as enacted by section 529 of Public Law 101–509 ), which was designed to ensure that the disparity in pay between Federal employees on the General Schedule and non-Federal employees is not greater than 5 percent, has not been implemented as envisioned, resulting in significant pay disparities between Federal Government and non-Federal employees, including private-sector employees; (2) Federal employees have experienced pay challenges in recent years owing to pay freezes, reduced pay increases, and unpaid furlough days, which have adversely impacted the ability of the Federal Government to recruit and retain skilled employees; and (3) the President and Congress should allow the statutory pay laws to be implemented as intended, providing an annual across-the-board pay adjustment and a locality pay adjustment that varies by specific pay locality area. IV Judicial Ethics 401. Clarification of gift ban (a) In general Section 7353 of title 5, United States Code, is amended— (1) in subsection (a), in the matter preceding paragraph (1), by striking anything of value and inserting a gift ; and (2) in subsection (d)— (A) in paragraph (1), by striking and at the end; (B) in paragraph (2), by striking the period at the end and inserting ; and