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Regulatory Transparency Boost: Easier Access to Rule Changes for Small Businesses.

This Act increases transparency regarding planned federal regulations that could financially impact small businesses. Government agencies must now publish easy-to-understand summaries of their regulatory plans on their websites, helping business owners prepare for upcoming changes. This ensures small businesses have better insight into future obligations and costs arising from new rules.
Key points
Agencies must disclose which specific economic sectors (NAICS) will be affected by new regulations expected to have a significant economic impact on small entities.
All regulatory agendas must be summarized in plain language and prominently displayed on agency websites and the Small Business Administration (SBA) website within 3 days of publication.
These changes make it easier for small business owners to monitor and respond to potential new legal and financial burdens.
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Additional Information
Print number: 118_HR_9030
Sponsor: Rep. Alford, Mark [R-MO-4]
Process start date: 2024-07-15