Bill Details
HR.974 - 119th Congress
Status
Latest action
2025-02-04 - Referred to the House Committee on Small Business.
Introduced Date
2025-02-04
Policy Area
Commerce
Committees
View committees (1)
Sponsors
Cosponsors
7
0
0
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would require the Small Business Administration to make sure its rules do not create any net regulatory cost for small businesses starting in fiscal year 2026. In simple terms, the agency would have to keep the “regulatory budget” for each small business at zero, meaning the costs from new rules, rule changes, or repealed rules could not add up to more than nothing for a small business concern. The bill would also require the SBA to send Congress a yearly report on rules made by other federal agencies that affect small businesses. It says no extra federal money would be provided to carry out the law.
- Applies to the Small Business Administration beginning in fiscal year 2026.
- Requires the SBA to keep each small business’s regulatory budget at zero.
- Covers the cost of new rules, changes to existing rules, and repeals of rules.
- Requires annual reports to Congress on other federal agencies’ rules that affect small businesses.
Official Summaries
No summaries available
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 974 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 974
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.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 4, 2025
Ms. Van Duyne (for herself, Mr. Meuser, Mr. Bean of Florida, and Mr.
Schmidt) introduced the following bill; which was referred to the
Committee on Small Business
_______________________________________________________________________
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.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Small Business Regulatory Reduction
Act''.
SEC. 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.
SEC. 3. NO ADDITIONAL FUNDS.
No additional funds are authorized to be appropriated to carry out
this Act.
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