; and (bb) not unduly impair legitimate business activity, including as compared to alternative approaches that may provide similar benefits; and (iii) a detailed economic analysis of the costs and benefits of the covered proposed rule that— (I) is noticed and subject to public comment for a period of not less than 30 days before publication; (II) is peer reviewed by an independent third party with knowledge of automotive retailing from the perspective of consumers and motor vehicle dealers; (III) includes an assessment of the costs for consumers and small businesses, including as a result of new disclosures and paperwork; and (IV) compares the mandates of the covered proposed rule to more targeted and less burdensome alternatives that achieve similar benefits; and (B) submit to the Committee on Energy and Commerce of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a copy of the covered proposed rule and the results of the study, testing, and analysis conducted under subparagraph (A). (2) Requirements for finalization The Commission may only finalize, implement, or enforce a covered proposed rule— (A) if— (i) an advance notice of proposed rulemaking with respect to the covered proposed rule was published in the Federal Register; (ii) a notice of proposed rulemaking with respect to the covered proposed rule that includes the results of the study, testing, and analysis conducted under paragraph (1)(A) was published in the Federal Register; and (iii) the covered proposed rule was open for public comment for a period of at least 120 days