To provide that an individual may not serve more than 2 terms as a member of any independent regulatory commission, and to authorize an individual to continue to serve as a member of an independent regulatory commission for not more than 1 year following the expiration of the term of the individual.

Regulator Term Limit Act of 1996 - Provides that an individual may not serve more than two terms as a member of any particular independent regulatory commission and permits continued service by an individual following the expiration of the individual's term. Sets forth a limitation on continued service.