The key aspects of the draft federal law “On the fundamentals of state regulation of prices (tariffs)” submitted by FAS Russia to the Government of the Russian Federation on June 8, 2021 following the discussion of this draft law by the working group on the implemen- tation of the “regulatory guillotine” mechanism were considered.This draft law is an attempt to form the general part of the tariff legislation of the Russian Federation.The article also discusses an alternative model for regulating issues related to the setting of prices (tariffs) — the codification of tariff legislation, which would take into account both general and specific or industry-specific components of tariff regulation.As the most preferable solution to the problems considered in the article, the author proposes the simultaneous codification of competitive and tariff regulation, the result of which should be the simultaneous adoption of the Competition Code and the Tariff Code of the Russian Federation.