((a)) ** “Regulation” defined** For the purpose of this section, the term “regulation” means any generally applicable rule, regulation, guideline, interpretation, or other requirement that—
((1)) is prescribed by the Secretary or the Department; and
((2)) has legally binding effect in connection with, or affecting, the provision of financial assistance under any applicable program.
((b)) ** Citation of authority** Regulations shall contain, immediately following each substantive provision of such regulations, citations to the particular section or sections of statutory law or other legal authority on which such provision is based.
((c)) ** Uniform application** All regulations shall be uniformly applied and enforced throughout the 50 States.
((d)) ** Application of exemption** The exemption for public property, loans, grants and benefits in shall apply only to regulations—
((1)) that govern the first grant competition under a new or substantially revised program authority as determined by the Secretary; or
((2)) where the Secretary determines that the requirements of this subsection will cause extreme hardship to the intended beneficiaries of the program affected by such regulations.
((e)) ** Schedule for promulgation of final regulations** Not later than 60 days after the date of enactment of any Act, or any portion of any Act, affecting the administration of any applicable program, the Secretary shall submit to the Committee on Education and Labor of the House of Representatives and the Committee on Labor and Human Resources of the Senate a schedule in accordance with which the Secretary plans to promulgate final regulations that the Secretary determines are necessary to implement such Act or portion of such Act. Such schedule shall provide that all such final regulations shall be promulgated within 360 days after the date of enactment of such Act or portion of such Act.
((f)) ** Transmittal of final regulations** Concurrently with the publication of any final regulations, the Secretary shall transmit a copy of such final regulations to the Speaker of the House of Representatives and the President pro tempore of the Senate.