1. Short title This Act may be cited as the Pandemic Regulatory Cost Relief Act of 2020 . 2. Prohibition against increasing regulatory compliance costs during coronavirus pandemic (a) In general A Federal rule for which an agency has estimated the costs of compliance may not be promulgated during the covered period if such rule increases the total Federal regulatory compliance costs for the class of entities to be subject to the rule, unless— (1) such increase is offset by a corresponding rescission of rules that reduces the total Federal regulatory compliance cost for that class of entities by an equal or greater amount; or (2) the Director of the Office of Management and Budget— (A) determines— (i) that no such corresponding rescission of rules is available to be made; or (ii) the rule is necessary for the protection of— (I) public health against the coronavirus pandemic; or (II) national security; and (B) publishes a notice to that effect in the Federal Register at the time the rule is promulgated. (b) Definitions In this section: (1) Coronavirus pandemic The term coronavirus pandemic means the SARS–CoV–2 pandemic of 2019–2020. (2) Covered period The term covered period means the period that— (A) begins on the date of the enactment of this section; and (B) ends on the date that is 1 year after the date on which the public health emergency declared under section 319 of the Public Health Services Act ( 42 U.S.C. 247d ) as a result of the coronavirus pandemic expires, or any renewal thereof. (3) Regulatory compliance cost The term regulatory compliance cost means any direct cost, and any reasonably foreseeable indirect cost (including revenue lost), of complying with a Federal rule. (4) Rule The term rule has the meaning given that term in section 551 of title 5, United States Code.