Bill > HR7198

This bill, the Prove It Act of 2024, amends the Regulatory Flexibility Act to require greater transparency and review procedures for federal regulatory decisions that impact small businesses. Specifically, it requires federal agencies to consider potential indirect costs of proposed rules on small entities, and allows small entities to petition the Chief Counsel for Advocacy of the Small Business Administration to review agency certifications that a proposed rule will not have a significant economic impact on a substantial number of small entities. The bill also requires agencies to publish guidance documents and allow for public comments on rules that are likely to significantly impact small businesses. Additionally, it adds a requirement for agencies to review their rules every 10 years, and provides that rules will cease to be effective if an agency fails to conduct such a review.

Justice

https://www.congress.gov/bill/118th-congress/house-bill/7198/all-info