Bill > S3411

This bill, titled the "Improving Access to Small Business Information Act," amends the Securities Exchange Act of 1934 to clarify that the activities of the Advocate for Small Business Capital Formation are not considered a "collection of information" under the Paperwork Reduction Act. The Paperwork Reduction Act is a federal law that aims to minimize the burden of information collection on the public by requiring government agencies to get approval from the Office of Management and Budget (OMB) before collecting information. This bill specifically states that the Advocate's actions will not be subject to the full requirements of this act, meaning the Advocate will not need to submit collections of information to the OMB for approval, display OMB control numbers, or indicate that their collections meet clearance requirements. However, certain procedural aspects of the Paperwork Reduction Act, like the general requirements for information collection review, will still apply to the Advocate's actions. The context for this change is to streamline the Advocate's ability to gather information and engage with small businesses without being bogged down by extensive paperwork regulations.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/3411/all-info