; and (B) may develop specific requirements for impact assessments and summary reports for particular— (i) categories of critical decisions, as described in subparagraphs (A) through (I) of section 2(8) or any subcategory developed by the Commission; and (ii) stages of development and deployment of an automated decision system or augmented critical decision process. (3) Effective date The regulations described in paragraph (1) shall take effect on the date that is 2 years after such regulations are promulgated. 4. Requirements for covered entity impact assessment (a) Requirements for impact assessment In performing any impact assessment required under section 3(b)(1) for an automated decision system or augmented critical decision process, a covered entity shall do the following, to the extent possible, as applicable to such covered entity as determined by the Commission: (1) In the case of a new augmented critical decision process, evaluate any previously existing critical decision-making process used for the same critical decision prior to the deployment of the new augmented critical decision process, along with any related documentation or information, such as— (A) a description of the baseline process being enhanced or replaced by the augmented critical decision process; (B) any known harm, shortcoming, failure case, or material negative impact on consumers of the previously existing process used to make the critical decision; (C) the intended benefits of and need for the augmented critical decision process; and (D) the intended purpose of the automated decision system or augmented critical decision process. (2) Identify and describe any consultation with relevant stakeholders as required by section 3(b)(1)(G), including by documenting— (A) the points of contact for the stakeholders who were consulted; (B) the date of any such consultation