June 20, 2007: New Bill to Help Small Business Comply With Federal Regulations
Section 212 requires federal agencies to publish a small business compliance guide for each final rule that has a significant economic impact on a substantial number of small entities. Amendment 103 strengthens those requirements and further mandates that federal agencies annually report to Congress on their efforts to comply with Section 212.
“Research shows that American small businesses are disproportionally impacted by the burden of federal regulations,” said Thomas M. Sullivan, chief counsel for Advocacy. “By requiring federal agencies to produce understandable and useable compliance guides, Congress has taken a step toward helping to reduce that burden.”
As part of its ongoing training of federal agencies on how to comply with SBREFA and the Regulatory Flexibility Act, the Office of Advocacy will assist agencies with the development of small business compliance guides.
For more information, visit the Office of Advocacy Website at www.sba.gov/advo.
Publication date: 06/18/2007