Small Business Support: Less Red Tape, More Protection
This act aims to ease the burden on small businesses by reducing bureaucratic hurdles and ensuring new federal regulations consider their specific needs. It introduces greater transparency in the rulemaking process and gives small businesses more influence over the regulations that affect them. Additionally, small businesses may be exempt from fines for first-time minor paperwork violations.
Key points
Federal agencies must more thoroughly analyze the impact of new rules on small businesses, considering both direct and indirect costs and benefits.
Small businesses, including non-profit and tribal organizations, will have greater input in the rulemaking process, and their definition will be expanded.
A requirement for regular review of existing rules is introduced to minimize their negative impact and maximize positive effects on small businesses.
Small businesses committing a first-time paperwork violation may avoid civil fines, unless the violation is serious or uncorrected.
The Chief Counsel for Advocacy of the Small Business Administration gains expanded powers to intervene in matters affecting small entities and to set small business size standards.
Expired
Additional Information
Print number: 117_HR_8933
Sponsor: Rep. Cline, Ben [R-VA-6]
Process start date: 2022-09-21