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Greater Transparency for Regulatory Decisions Affecting Small Businesses

This Act aims to increase transparency in federal agency decision-making processes that may impact small businesses. It provides small entities with new tools to challenge agency decisions that could have a significant economic impact on them, potentially affecting their operational stability and business costs.
Key points
Federal agencies will need to more thoroughly analyze and disclose potential indirect costs that new regulations may impose on small businesses.
Small businesses and their organizations will be able to petition the Chief Counsel for Advocacy of the Small Business Administration to review certifications that new rules will not have a significant economic impact.
If an agency fails to conduct a required review of a rule's impact on small businesses within 10 years, the rule may cease to be effective, offering businesses greater protection from outdated or unjustified burdens.
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VOTING RESULTS
2024-12-05
51%
For 208
Against 196
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_7198
Sponsor: Rep. Finstad, Brad [R-MN-1]
Process start date: 2024-02-01
Voting date: 2024-12-05
Meeting no: 2
Voting no: 489
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Prove It Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7198.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-02-01.

What are the main provisions?

Key points include:

  • Federal agencies will need to more thoroughly analyze and disclose potential indirect costs that new regulations may impose on small businesses.
  • Small businesses and their organizations will be able to petition the Chief Counsel for Advocacy of the Small Business Administration to review certifications that new rules will not have a significant economic impact.
  • If an agency fails to conduct a required review of a rule's impact on small businesses within 10 years, the rule may cease to be effective, offering businesses greater protection from outdated or unjustified burdens.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Finstad, Brad [R-MN-1].

What is the latest detailed status?

The latest detailed status is: On passage Passed by the Yeas and Nays: 208 - 196 (Roll no. 489). (text of amendment in the nature of a substitute: CR H6379-6380)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy