Impact Statements
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Impact statements are required analyses accompanying rulemakings that take into consideration the impact of a rulemaking on a sector of the economy or society. The National Environmental Policy Act (NEPA), for instance, requires environmental impact statements for any federal action that may have a significant impact on the human environment. Impact statements are also required by the Regulatory Flexibility Act, the Unfunded Mandates Reform Act and Paperwork Reduction Act. Some executive orders also require impact statements.
Source: The Regulatory Group, Inc., available at reg-group.com/glossary.shtml.
