Cost-benefit analysis

(a) Requirement of regulatory impact If an agency is performing a cost-benefit or regulatory impact analysis in the course of issuing a rule, the agency shall— (1) take into account the benefits of the rule to the public, including the nonquantifiable benefits of the rule; and (2) except for good cause shown, prioritize adoption of a rule that provides benefits to the public, including nonquantifiable benefits. (b) Requirement of distributional effects An agency shall take into account distributional effects and the social equity impact of a rule when issuing such rule. (c) Scope of review Section 706 of title 5, United States Code, as amended by section 12, is amended in subsection (a), as so designated, by inserting after prejudicial error. the following: When acting under paragraph (2)(A), the court shall not require an agency to demonstrate that the challenged action meets a cost-benefit analysis standard except where explicitly required by law..