Small Business Regulatory Reduction Act: Zero Net Regulatory Costs.
This bill requires the Small Business Administration (SBA) to ensure that the total cost of new regulations imposed on small businesses is zero for any fiscal year. This means that if a new rule creates costs for small businesses, an existing rule must be repealed or modified to offset that cost. The goal is to reduce financial and bureaucratic burdens, potentially making it easier for small businesses to operate and grow.
Key points
Zero Regulatory Budget: The SBA must ensure that the net cost of rulemaking to small businesses is not greater than zero annually.
Cost Offset Requirement: Any new regulation that imposes costs must be balanced by the repeal or modification of existing rules to maintain a zero net cost.
Reporting Mandate: The SBA must report annually to Congress on all regulations issued by other federal agencies that impact small businesses.
Expired
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