; (C) significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets; or (D) significant impacts on multiple sectors of the economy. (5) Rule The term rule has the meaning given that term in section 551 of title 5, United States Code. (6) Set of rules The term set of rules means a set of rules that collectively implements a regulatory authority of an agency. I Retrospective Regulatory Review Commission 101. Retrospective Regulatory Review Commission (a) Establishment There is established a commission, to be known as the Retrospective Regulatory Review Commission , that shall review rules and sets of rules in accordance with specified criteria to determine if a rule or set of rules should be repealed to eliminate or reduce the costs of regulation to the economy. (b) Membership (1) Number The Commission shall be composed of 9 members who shall be appointed by the President and confirmed by the Senate. (2) Date of appointment Each member shall be appointed not later than 180 days after the date of enactment of this Act. (3) Term The term of each member shall commence upon the confirmation of the member by the Senate and shall extend to the later of— (A) the date that is 5 years and 180 days after the date of enactment of this Act