Requires agencies to weigh indirect costs of new rules on small businesses

§1What it does

Why this matters: A plain-English description of the bill as it was voted on, written by us from the official summary and text.

✎ Drafted by AI from the public sources cited. Each sentence links to its source.

This bill would add to the steps federal agencies must take when writing regulations that could affect small businesses, small organizations and small local governments.^2,3 Agencies would have to estimate, where feasible, the reasonably foreseeable indirect costs a proposed rule could impose on these small entities, and send any certification that a rule will not significantly affect many of them to the Small Business Administration's Office of Advocacy within 10 days.^3,4 Small entities could ask that office to review such a certification, and if it found the rule would have a significant impact, the agency would have to complete a full small-business analysis; if the agency did not take part in the review, the final rule would not apply to small entities.^3,4 Agencies would also have to publish, and take public comments on, guidance documents for rules likely to significantly affect many small entities.^3,4 It would also make a rule lose effect if the agency missed the periodic review of it that current law requires within 10 years, and the rule could be reinstated only if the agency, after seeking public comment, chose to restore it and finished the review within 180 days; this would apply to rules issued in the five years before enactment and later.⁴

§2Status

§3How Congress voted

Why this matters: The official count.