1. Short title This Act may be cited as the Regulatory Accountability Act . 2. Definitions Section 551 of title 5, United States Code, is amended— (1) in paragraph (5), by striking rule making and inserting rulemaking ; (2) in paragraph (6), by striking rule making and inserting rulemaking ; (3) in paragraph (13), by striking and at the end; (4) in paragraph (14), by striking the period at the end and inserting a semicolon; and (5) by adding at the end the following: (15) guidance means an agency statement of general applicability that— (A) is not intended to have the force and effect of law; and (B) sets forth a policy on a statutory, regulatory, or technical issue or an interpretation of a statutory or regulatory issue; (16) major guidance means guidance that the Administrator finds is— (A) likely to lead to— (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, local, or Tribal government agencies, or geographic regions; or (iii) significant adverse effects on competition, employment, investment, productivity, innovation, public health and safety, or the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets; or (B) a departure from a prior statutory interpretation or agency policy; (17) major rule means any rule that the Administrator determines is likely to— (A) cause an annual effect on the economy of $100,000,000 or more; (B) cause a major increase in costs or prices for consumers, individual industries, Federal, State, local, or Tribal government agencies, or geographic regions; (C) cause significant adverse effects on competition, employment, investment, productivity, innovation, public health and safety, or the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets; or (D) raise novel legal or policy issues arising out of legal mandates