1. Short title This Act may be cited as the Regulatory Transparency Act of 2023 . 2. Definitions Section 601 of title 5, United States Code, is amended— (1) in paragraph (6), by striking and at the end; (2) in paragraph (7) by striking the period at the end and inserting a semicolon; (3) in paragraph (8)— (A) by striking Recordkeeping requirement .—The and inserting the ; and (B) by striking the period at the end and inserting ; and ; and (4) by adding at the end the following: (9) the term significant rule means any final rule that the Administrator of the Office of Information and Regulatory Affairs of the Office of Management and Budget determines is likely to— (A) have an annual effect on the economy of $100,000,000 or more or adversely affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, public health or safety, or State, local, or tribal governments or communities; (B) create a significant inconsistency or otherwise interfere with an action taken or planned by another Federal agency; (C) materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients thereof; or (D) raise novel legal or policy issues. . 3. Regulatory impact analyses; consideration of sunset dates (a) In general Chapter 6 of title 5, United States Code, is amended by adding at the end the following: 613. Regulatory impact analyses (a) In general Before issuing any proposed rule, final rule, or interim final rule that meets the economic threshold of a significant rule described in section 601(9)(A), an agency shall conduct a regulatory impact analysis to evaluate the proposed rule, final rule, or interim final rule, as applicable. (b) Regulatory impact analyses An analysis under subsection (a) shall— (1) be based upon the best reasonably obtainable supporting information, consistent with Executive Order 12866 ( 5 U.S.C. 601 note