Small Business Regulatory Reduction Act

119 S387 IS: Small Business Regulatory Reduction Act U.S. Senate 2025-02-04 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II 119th CONGRESS 1st Session S. 387 IN THE SENATE OF THE UNITED STATES February 4, 2025 Mr. Marshall introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To require the Administrator of the Small Business Administration to ensure that the small business regulatory budget for a small business concern in a fiscal year is not greater than 0, and for other purposes. 1. Short title This Act may be cited as the Small Business Regulatory Reduction Act . 2. Small Business Administration rulemaking costs to small business concerns (a) Definitions In this section: (1) Administrator The term Administrator means the Administrator of the Small Business Administration. (2) Rule; rule making The terms rule and rule making have the meanings given those terms in section 551 of title 5, United States Code. (3) Small business concern The term small business concern has the meaning given the term in section 3 of the Small Business Act ( 15 U.S.C. 632 ). (4) Small business regulatory budget The term small business regulatory budget means the cost to a small business concern of a rule making conducted by the Small Business Administration, including the cost resulting from the issuance of any new rule and the cost resulting from the modification or repeal of an existing rule. (b) Requirement In fiscal year 2026, and in each fiscal year thereafter, the Administrator shall ensure that the small business regulatory budget for each small business concern for the applicable fiscal year is not greater than 0. (c) Report Not later than 60 days after the end of fiscal year 2025, and annually thereafter, the Administrator shall submit to Congress a report regarding rules issued by other Federal agencies during the preceding fiscal year that have an impact on small business concerns, which shall— (1) include each such rule issued during the preceding fiscal year; and (2) be disaggregated by the Federal agency that issued each such rule. 3. No additional funds No additional funds are authorized to be appropriated to carry out this Act.