The "Bureaucratic Limitation and Overreach Control Act," or BLOCK Act, significantly revises the process by which federal agency rules are implemented, aiming to enhance congressional oversight. It establishes a new framework for the review and approval of agency regulations, particularly those designated as "major rules."

Under this Act, a "major rule" is defined as any rule that the Comptroller General determines is likely to result in an annual cost of compliance of $50,000,000 or more. Such major rules are prohibited from taking effect unless Congress enacts a joint resolution of approval. Before any rule can be implemented, agencies must submit comprehensive reports to Congress and the Comptroller General, including detailed cost-benefit analyses and assessments of economic effects.

For "nonmajor rules," which do not meet the $50 million cost threshold, they can take effect unless Congress passes a joint resolution of disapproval. The bill outlines specific, expedited procedures for both the House and Senate to consider these joint resolutions within defined timeframes. While a major rule may temporarily take effect for national security or disaster response, this does not circumvent the ultimate requirement for congressional approval.

Furthermore, the BLOCK Act introduces a critical provision for reviewing rules already in effect. Agencies are mandated to annually designate at least 20% of their existing "eligible rules" for congressional review over a five-year period. If Congress does not approve these designated existing rules within 90 days of their designation, they will cease to be in effect after five years from the bill's enactment. The legislation also exempts rules concerning monetary policy from these new requirements and limits judicial review to procedural compliance, not the substance of congressional determinations.