Regulatory Transparency for Small Businesses Act

Government Operations and Politics

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Introduced on April 17, 2024 by Blaine Luetkemeyer

Legislation Details

Amends title 5, United States Code, to specify the information required in a certification by an agency that a rule will not significantly impact a substantial number of small entities.
The certification must include:
- The approximate number of small entities impacted by the rule, with identification details such as the North American Industry Classification System code.
- An estimate of the total cost of implementing the rule, including compliance costs, which may be expressed as a percentage of the revenue of the impacted small entities or another measure of economic significance.
- A determination of whether the compliance costs represent a significant economic impact, including the criteria used for this determination.
- A determination of the number of small entities that will experience a significant economic impact as a result of the rule, whether this number is substantial, and the criteria used for these determinations.

Last updated 9/28/2024