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; rulemaking

The terms rule and rulemaking have the meanings given those terms in section 551 of title 5, United States Code. (3)

Small business

The term small business has the same meaning as the term small business concern under section 3 of the Small Business Act (15 U.S.C. 632), unless an agency, after consultation with the Office of Advocacy of the Small Business Administration and after opportunity for public comment, establishes one or more definitions of such term which are appropriate to the activities of the agency and publishes any such definitions in the Federal Register. (4)

Small business regulatory budget

The term small business regulatory budget means the cost to a small business of a rulemaking conducted by a Federal agency, 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 each fiscal year thereafter, the Administrator shall ensure that the small business regulatory budget for the Small Business Administration for the applicable fiscal year is not greater than zero. (c)

Advocacy Report

Not later than 60 days after the end of fiscal year 2025, and annually thereafter, the Chief Counsel for the Office of Advocacy of the Small Business Administration shall submit to Congress a report regarding rules issued by Federal agencies other than the Administration during the preceding fiscal year that have an impact on small businesses, which shall— (1)include the total small business regulatory budgets for the preceding fiscal year for each Federal agency; (2)include each such rule issued during the preceding fiscal year; and (3)be disaggregated by the Federal agency that issued each such rule.