May 11, 2005: Bill To Help Small Firms Comply With Federal Regulations
WASHINGTON - U.S. Sen. Olympia J. Snowe (R-Maine), chair of the Senate Committee on Small Business and Entrepreneurship, has introduced a bill to aid small businesses in complying with federal regulations. Snowe aims to improve a small business law, the Small Business Regulatory Enforcement Fairness Act (SBREFA), originally intended to aid small firms in understanding and complying with federal regulations, which would save money and personnel time on compliance duties.
Snowe's bill is designed to close loopholes in the original law that the General Accounting Office (GAO) has identified as allowing federal agencies to either ignore or poorly fulfill their duties to provide small businesses with compliance assistance.