; relating to regulatory planning and review) for the fiscal year of the date of the enactment of this Act, and for each fiscal year thereafter, the head of each agency shall identify, for each rule that increases incremental cost, the offsetting rules described in subsection (c), and provide the best approximation of the total costs or savings associated with each new rule or repealed rule. (2) Prohibition on issuance of rule not included in the Unified Regulatory Agenda The head of an agency may not issue a rule if the rule was not included on the most recent version or update of the published Unified Regulatory Agenda as required under Executive Order 12866, unless the issuance of the rule was approved in advance in writing by the Director. (3) OMB identification of incremental costs for rules Not later than the first Monday in February of each year, the Director shall identify a total amount of incremental cost for each agency that will be allowed for the agency to issue and repeal rules for the next fiscal year. (4) Issuance of agency rules required to be within total incremental cost allowance The head of an agency may not issue a rule that exceeds the total incremental cost allowance for the agency identified by the Director under paragraph (3), unless the rule is required by law or approved in writing by the Director. The total incremental cost allowance may allow an increase or require a reduction in the total regulatory cost of the rule on private entities. (5) OMB guidance Not later than 90 days after the date of the enactment of this Act, the Director shall provide to the head of each agency guidance on the implementation of the requirements in this subsection. (f) Definitions In this section: (1) Agency The term agency has the meaning given that term in section 551 of title 5, United States Code. (2) Director The term Director means the Director of the Office of Management and Budget. (3) Rule The term rule means an agency statement of general or particular applicability and future effect designed to