Summary from the Library of Congress: "Amends the Administrative Procedure Act to revise and expand the requirements for federal agency rulemaking by requiring agencies, in making a rule, to base all preliminary and final factual determinations on evidence and to consider the legal authority under which the rule may be proposed, the specific nature and significance of the problem the agency may address with the rule, any reasonable alternatives for the rule, and the potential costs and benefits associated with such alternatives. Requires agencies to publish advance notice of proposed rulemaking for major rules and for high-impact rules ... and for rules that involve a novel legal or policy issue arising out of statutory mandates, which shall include a written statement identifying the nature and significance of the problem the agency may address with a rule, the legal authority under which the rule may be proposed, the nature of and potential reasons to adopt a novel legal or policy position, and a solicitation for written data, views, or arguments from interested persons. Sets forth criteria for issuing major guidance ... or guidance that involves a novel legal or policy issue arising out of statutory mandates. Expands the scope of judicial review of agency rulemaking by allowing immediate review of rulemaking not in compliance with notice requirements and establishing a substantial evidence standard for affirming agency rulemaking decisions."  MORE >>