Bill > S1411

This bill, the Prove It Act of 2023, amends the Regulatory Flexibility Act to require federal agencies to provide greater transparency and analysis when proposing regulations that may significantly impact small businesses. Specifically, it requires agencies to analyze potential indirect costs of proposed rules on small entities, such as those that purchase from or conduct business with directly regulated entities. It also establishes a process for small entities to petition the Chief Counsel for Advocacy of the Small Business Administration to review an agency's certification that a proposed rule will not have a significant economic impact on a substantial number of small entities. Additionally, the bill requires agencies to publish guidance documents and allow for public feedback on rules likely to significantly impact small businesses. Finally, it requires agencies to complete periodic reviews of existing rules within 10 years or risk the rule ceasing to be effective.

Military Affairs and Security

https://www.congress.gov/bill/118th-congress/senate-bill/1411/all-info