The Federal Maritime Commission issued a final rule to adjust for inflation the civil monetary penalties they assess, following the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This rule requires agencies to announce these adjustments by January 15 every year and is based on changes in the consumer price index. The adjustment process is not required to follow certain procedural steps like public notice or comment, and the rule will not have significant economic impacts. Additionally, the rule doesnβt involve any new collection of information from the public.
Simple Explanation
The Federal Maritime Commission changed its money penalties to keep up with price changes, and they have to tell everyone about it by mid-January every year. They didn't need to ask people for opinions to make these changes, and no one needs to do anything new because of it.