Bill > S495

This bill aims to enhance transparency and support for small businesses in the federal regulatory process by introducing several key changes to existing law. The bill establishes a new review procedure that allows small entities to petition the Chief Counsel for Advocacy of the Small Business Administration to review agency certifications about the economic impact of proposed regulations. When filing such a petition, small businesses must provide detailed information about their concerns, including specific problems with the agency's certification, supporting data, and potential alternative solutions. The Chief Counsel will conduct an initial prima facie review and may proceed to a full review if merited, which involves assessing the agency's determination of affected small entities, economic data consideration, and economic implications. If the Chief Counsel finds that a proposed rule would significantly impact small entities, the agency must perform a comprehensive regulatory flexibility analysis. Additionally, the bill requires agencies to publish guidance documents related to rules likely to affect small entities on regulations.gov, allowing for public comments. The legislation also mandates a periodic review of existing rules, with consequences if an agency fails to conduct the required 10-year review, potentially causing the rule to cease being effective until properly reassessed. Notably, the bill specifies that no additional funds are authorized to implement these new requirements.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/senate-bill/495/all-info