,,ii #aacth ,,congress #ast ,session ,s4 #agcj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,november #ai1 #bjac,ms4 ,collins introduced the following bill2 which was read twice and referred to the ,committee on ,homeland ,security and ,governmental ,affairs ,a ,,bill ,to reform the regulatory process to ensure that small businesses are free to compete and to create jobs1 to clear unnecessary regulatory burdens1 and for other purposes4 ,i ,clearing unnecessary regulatory burdens #aja4 ,short title ,this title may be cited as the ,clearing ,unnecessary ,regulatory ,burdens ,act of #bjac or the ,,curb ,act4 #ajb4 ,regulatory reform 7a7 ,definitions ,in this section-- 7#a7 the term ,administrator means the ,administrator of the ,office of ,information and ,regulatory ,affairs in the ,office of ,management and ,budget2 7#b7 the term agency has the same meaning as in section #cejb7a7 of title #dd1 ,united ,states ,code2 7#c7 the term economically significant guidance document means a significant guidance document that may reasonably be anticipated to lead to an annual effect on the economy of #ajj1jjj1jjj or more or adversely affect in a material way the economy or a sector of the economy1 except that economically significant guidance documents do not include guidance documents on ,federal expenditures and receipts2 7#d7 the term disseminated-- 7,a7 means prepared by an agency and distributed to the public or regulated entities2 and 7,b7 does not include-- 7i7 distribution limited to ,federal ,government employees2 7ii7 intra- or interagency use or sharing of ,federal ,government information2 and 7iii7 responses to requests for agency records under section #eeb of title #e1 ,united ,states ,code 7commonly referred to as the ,freedom of ,information ,act71 section #eeb;a of title #e1 ,united ,states ,code1 7commonly referred to as the ,privacy ,act71 the ,federal ,advisory ,committee ,act 7#e ,u4,s4,c4 ,app471 or other similar laws2 7#e7 the term guidance document means an agency statement of general applicability and future effect1 other than a regulatory action1 that sets forth a policy on a statutory1 regulatory or technical issue or an interpretation of a statutory or regulatory issue2 7#f7 the term regulation means an agency statement of general applicability and future effect1 which the agency intends to have the force and effect of law1 that is designed to implement1 interpret1 or prescribe law or policy or to describe the procedure or practice requirements of an agency2 7#g7 the term regulatory action means any substantive action by an agency 7normally published in the ,federal ,register7 that promulgates or is expected to lead to the promulgation of a final regulation1 including notices of inquiry1 advance notices of proposed rulemaking1 and notices of proposed rulemaking2 7#h7 the term significant guidance document-- 7,a7 means a guidance document disseminated to regulated entities or the general public that may reasonably be anticipated to-- 7i7 lead to an annual effect on the economy of #ajj1jjj1jjj or more or affect in a material way the economy1 a sector of the economy1 productivity1 competition1 jobs1 the environment1 public health or safety1 or ,state1 local1 or tribal governments or communities2 7ii7 create a serious inconsistency or otherwise interfere with an action taken or planned by another agency2 7iii7 materially alter the budgetary impact of entitlements1 grants1 user fees1 or loan programs or the rights and obligations of recipients thereof2 or 7iv7 raise novel legal or policy issues arising out of legal mandates and the priorities1 principles1 and provisions of this section2 and 7,b7 does not include-- 7i7 legal advisory opinions for internal ,executive ,branch use and not for release 7such as ,department of ,justice ,office of ,legal ,counsel opinions72 7ii7 briefs and other positions taken by agencies in investigations1 pre-litigation1 litigation1 or other enforcement proceedings2 7iii7 speeches2 7iv7 editorials2 7v7 media interviews2 7vi7 press materials2 7vii7 congressional correspondence2 7viii7 guidance documents that pertain to a military or foreign affairs function of the ,united ,states 7other than guidance on procurement or the import or export of non-defense articles and services72 7ix7 grant solicitations2 7x7 warning letters2 7xi7 case or investigatory letters responding to complaints involving fact-specific determinations2 7xii7 purely internal agency policies2 7xiii7 guidance documents that pertain to the use1 operation or control of a government facility2 7xiv7 internal guidance documents directed solely to other agencies2 and 7xv7 any other category of significant guidance documents exempted by an agency head in consultation with the ,administrator2 and 7#i7 the term significant regulatory action means any regulatory action that is likely to result in a regulation that may-- 7,a7 have an annual effect on the economy of #ajj1jjj1jjj or more or adversely affect in a material way the economy1 a sector of the economy1 productivity1 competition1 jobs1 the environment1 public health or safety1 or ,state1 local1 or tribal governments or communities2 7,b7 create a serious inconsistency or otherwise interfere with an action taken or planned by another agency2 7,c7 materially alter the budgetary impact of entitlements1 grants1 user fees1 or loan programs or the rights and obligations of recipients thereof2 or 7,d7 raise novel legal or policy issues arising out of legal mandates and the priorities1 principles1 and provisions of this section4 7b7 ,agency assessment of significant regulatory actions ,for each significant regulatory action1 each agency shall submit1 at such times specified by the ,administrator1 a report to the ,office of ,information and ,regulatory ,affairs that includes-- 7#a7 an assessment1 including the underlying analysis1 of benefits anticipated from the significant regulatory action1 such as-- 7,a7 the promotion of the efficient functioning of the economy and private markets2 7,b7 the enhancement of health and safety2 7,c7 the protection of the natural environment2 and 7,d7 the elimination or reduction of discrimination or bias2 7#b7 to the extent feasible1 a quantification of the benefits assessed under paragraph 7#a72 7#c7 an assessment1 including the underlying analysis1 of costs anticipated from the regulatory action1 such as-- 7,a7 the direct cost both to the ,federal ,government in administering the significant regulatory action and to businesses1 consumers1 and others 7including ,state1 local1 and tribal officials7 in complying with the regulation2 and 7,b7 any adverse effects on the efficient functioning of the economy1 private markets 7including productivity1 employment1 and competitiveness71 health1 safety1 the natural environment1 job creation1 the prices of consumer goods1 and energy costs2 7#d7 to the extent feasible1 a quantification of the costs assessed under paragraph 7#c72 and 7#e7 an assessment1 including the underlying analysis1 of costs and benefits of potentially effective and reasonably feasible alternatives to the planned significant regulatory action1 identified by the agency or the public 7including improving the current regulation and reasonably viable nonregulatory actions71 and an explanation why the planned regulatory action is preferable to the identified potential alternatives4 7c7 ,agency good guidance practices 7#a7 ,agency standards for significant guidance documents 7,a7 ,approval procedures 7i7 ,in general ,each agency shall develop or have written procedures for the approval of significant guidance documents1 which shall ensure that the issuance of significant guidance documents is approved by appropriate senior agency officials4 7ii7 ,requirement ,employees of an agency may not depart from significant guidance documents without appropriate justification and supervisory concurrence4 7,b7 ,standard elements ,each significant guidance document-- 7i7 shall-- 7,i7 include the term guidance or its functional equivalent2 7,,ii7 identify the agency or office issuing the document2 7,,iii7 identify the activity to which and the persons to whom the significant guidance document applies2 7,,iv7 include the date of issuance2 7,v7 note if the significant guidance document is a revision to a previously issued guidance document and1 if so1 identify the document that the significant guidance document replaces2 7,,vi7 provide the title of the document and a document identification number2 and 7,,vii7 include the citation to the statutory provision or regulation 7in ,code of ,federal ,regulations format7 which the significant guidance document applies to or interprets2 and 7ii7 shall not include mandatory terms such as shall1 must1 required1 or requirement unless-- 7,i7 the agency is using those terms to describe a statutory or regulatory requirement2 or 7,,ii7 the terminology is addressed to agency staff and will not foreclose agency consideration of positions advanced by affected private parties4 7#b7 ,public access and feedback for significant guidance documents 7,a7 ,internet access 7i7 ,in general ,each agency shall-- 7,i7 maintain on the ,web site for the agency1 or as a link on the ,web site of the agency to the electronic list posted on a ,web site of a component of the agency a list of the significant guidance documents in effect of the agency1 including a link to the text of each significant guidance document that is in effect2 and 7,,ii7 not later than #cj days after the date on which a significant guidance document is issued1 update the list described in clause 7i74 7ii7 ,list requirements ,the list described in subparagraph 7,a77i7 shall-- 7,i7 include the name of each-- 7aa7 significant guidance document2 7bb7 document identification number2 and 7cc7 issuance and revision dates2 and 7,,ii7 identify significant guidance documents that have been added1 revised1 or withdrawn in the preceding year4 7,b7 ,public feedback 7i7 ,in general ,each agency shall establish and clearly advertise on the ,web site for the agency a means for the public to electronically submit-- 7,i7 comments on significant guidance documents2 and 7,,ii7 a request for issuance1 reconsideration1 modification1 or rescission of significant guidance documents4 7ii7 ,agency response ,any comments or requests submitted under subparagraph 7,a7-- 7,i7 are for the benefit of the agency2 and 7,,ii7 shall not require a formal response from the agency4 7iii7 ,office for public comments 7,i7 ,in general ,each agency shall designate an office to receive and address complaints from the public relating to-- 7aa7 the failure of the agency to follow the procedures described in this section2 or 7bb7 the failure to treat a significant guidance document as a binding requirement4 7,,ii7 ,web site ,the agency shall provide1 on the ,web site of the agency1 the name and contact information for the office designated under clause 7i74 7#c7 ,notice and public comment for economically significant guidance documents 7,a7 ,in general ,except as provided in paragraph 7#b71 in preparing a draft of an economically significant guidance document1 and before issuance of the final significant guidance document1 each agency shall-- 7i7 publish a notice in the ,federal ,register announcing that the draft document is available2 7ii7 post the draft document on the ,internet and make a tangible copy of that document publicly available 7or notify the public how the public can review the guidance document if the document is not in a format that permits such electronic posting with reasonable efforts72 7iii7 invite public comment on the draft document2 and 7iv7 prepare and post on the ,web site of the agency a document with responses of the agency to public comments4 7,b7 ,exceptions ,in consultation with the ,administrator1 an agency head may identify a particular economically significant guidance document or category of such documents for which the procedures of this subsection are not feasible or appropriate4 7#d7 ,emergencies 7,a7 ,in general ,in emergency situations or when an agency is obligated by law to act more quickly than normal review procedures allow1 the agency shall notify the ,administrator as soon as possible and1 to the extent practicable1 comply with this subsection4 7,b7 ,significant guidance documents subject to statutory or court-imposed deadline ,for a significant guidance document that is governed by a statutory or court-imposed deadline1 the agency shall1 to the extent practicable1 schedule the proceedings of the agency to permit sufficient time to comply with this subsection4 7#e7 ,effective date ,this section shall take effect #fj days after the date of enactment of this ,act4 #ajc4 ,reduction or waiver of civil penalties imposed on small entities 7a7 ,in general ,chapter #f of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 #fac4 ,reduction or waiver of civil penalties imposed on small entities 7a7 ,upon notifying a small entity of a violation by the small entity of a collection of information or recordkeeping requirement1 the agency shall provide the small entity with an opportunity to request that the agency reduce or waive any civil penalty imposed on the small entity as a result of the violation4 7b7 ,if a small entity requests a reduction or waiver under subsection 7a71 the agency that receives the request shall-- 7#a7 review the records of the agency2 and 7#b7 reduce or waive the civil penalty imposed on the small entity if the agency determines that-- 7,a7 the civil penalty was the result of a first-time violation by the small entity of a collection of information or recordkeeping requirement2 and 7,b7 the reduction or waiver is consistent with the conditions and exclusions described in paragraphs 7#a71 7#c71 7#d71 7#e71 and 7#f7 of section #bbc7;b7 of the ,small ,business ,regulatory ,enforcement ,fairness ,act of #aiif 7#e ,u4,s4,c4 #fja note74 7c7 ,not later than #fj days after the receipt of a request from a small entity under subsection 7a71 an agency shall send the small entity written notice of the determination of the agency with respect to the request and the reasons for the determination4 7d7 ,the ,chief ,counsel for ,advocacy shall submit to ,congress an annual report summarizing-- 7#a7 all requests received by the agencies under subsection 7a7 during the previous year2 and 7#b7 the results of the requests described in paragraph 7#a74 4 7b7 ,technical and conforming amendment ,the table of sections for chapter #f of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 #fac4 ,reduction or waiver of civil penalties imposed on small entities4 4 ,,ii ,regulatory ,flexibility ,improvement #bja4 ,short title ,this title may be cited as the ,regulatory ,flexibility ,improvement ,act of #bjac4 #bjb4 ,findings ,congress finds the following3 7#a7 ,a vibrant and growing small business sector is critical to the recovery of the economy of the ,united ,states4 7#b7 ,regulations designed for application to large-scale entities have been applied uniformly to small businesses and other small entities1 sometimes inhibiting the ability of small entities to create new jobs4 7#c7 ,uniform ,federal regulatory and reporting requirements in many instances have imposed on small businesses and other small entities unnecessary and disproportionately burdensome demands1 including legal1 accounting1 and consulting costs1 thereby threatening the viability of small entities and the ability of small entities to compete and create new jobs in a global marketplace4 7#d7 ,since #aihj1 ,federal agencies have been required to recognize and take account of the differences in the scale and resources of regulated entities1 but in many instances have failed to do so4 7#e7 ,in #bjji1 there were nearly #gj1jjj pages in the ,federal ,register1 and1 according to research by the ,office of ,advocacy of the ,small ,business ,administration1 the annual cost of ,federal regulations totals #a1gej1jjj1jjj1jjj4 ,small firms bear a disproportionate burden1 paying approximately #cf percent more per employee than larger firms in annual regulatory compliance costs4 7#f7 ,all agencies in the ,federal ,government should fully consider the costs1 including indirect economic impacts and the potential for job loss1 of proposed rules1 periodically review existing regulations to determine their impact on small entities1 and repeal regulations that are unnecessarily duplicative or have outlived their stated purpose4 7#g7 ,it is the intention of ,congress to amend chapter #f of title #e1 ,united ,states ,code1 to ensure that all impacts1 including foreseeable indirect effects1 of proposed and final rules are considered by agencies during the rulemaking process and that the agencies assess a full range of alternatives that will limit adverse economic consequences1 enhance economic benefits1 and fully address potential job loss4 #bjc4 ,including indirect economic impact in small entity analyses ,section #fja of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 7#i7 the term economic impact means1 with respect to a proposed or final rule-- 7,a7 the economic effects on small entities directly regulated by the rule2 and 7,b7 the reasonably foreseeable economic effects of the rule on small entities that-- 7i7 purchase products or services from1 sell products or services to1 or otherwise conduct business with entities directly regulated by the rule2 7ii7 are directly regulated by other governmental entities as a result of the rule2 or 7iii7 are not directly regulated by the agency as a result of the rule but are otherwise subject to other agency regulations as a result of the rule4 4 #bjd4 ,judicial review to allow small entities to challenge proposed regulations ,section #faa7;a7 of title #e1 ,united ,states ,code1 is amended-- 7#a7 in paragraph 7#a71 by inserting #fjc1 after #fja12 7#b7 in paragraph 7#b71 by inserting #fjc1 after #fja12 7#c7 by striking paragraph 7#c7 and inserting the following3 7#c7 ,a small entity may seek such review during the #a-year period beginning on the date of final agency action1 except that-- 7,a7 if a provision of law requires that an action challenging a final agency action be commenced before the expiration of #a year1 the lesser period shall apply to an action for judicial review under this section2 and 7,b7 in the case of noncompliance with section #fjc or #fje7;b71 a small entity may seek judicial review of agency compliance with such section before the close of the public comment period4 2 and 7#d7 in paragraph 7#d7-- 7,a7 in subparagraph 7,a71 by striking 1 and and inserting a semicolon2 7,b7 in subparagraph 7,b71 by striking the period and inserting 2 or2 and 7,c7 by adding at the end the following3 7,c7 issuing an injunction prohibiting an agency from taking any agency action with respect to a rulemaking until that agency is in compliance with the requirements of section #fjc or #fje4 4 #bje4 ,periodic review ,section #faj of title #e1 ,united ,states ,code1 is amended to read as follows3 #faj4 ,periodic review of rules 7a7 7#a7 ,not later than #ahj days after the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac1 each agency shall establish a plan for the periodic review of-- 7,a7 each rule issued by the agency that the head of the agency determines has a significant economic impact on a substantial number of small entities1 without regard to whether the agency performed an analysis under section #fjd with respect to the rule2 and 7,b7 any small entity compliance guide required to be published by the agency under section #bab of the ,small ,business ,regulatory ,enforcement ,fairness ,act of #aiif 7#e ,u4,s4,c4 #fja note74 7#b7 ,in reviewing rules and small entity compliance guides under paragraph 7#a71 the agency shall determine whether the rules and guides should-- 7,a7 be amended or rescinded1 consistent with the stated objectives of applicable statutes1 to minimize any significant adverse economic impacts on a substantial number of small entities 7including an estimate of any adverse impacts on job creation and employment by small entities72 or 7,b7 continue in effect without change4 7#c7 ,each agency shall publish the plan established under paragraph 7#a7 in the ,federal ,register and on the ,web site of the agency4 7#d7 ,an agency may amend the plan established under paragraph 7#a7 at any time by publishing the amendment in the ,federal ,register and on the ,web site of the agency4 7b7 ,each plan established under subsection 7a7 shall provide for-- 7#a7 the review of each rule and small entity compliance guide described in subsection 7a77#a7 in effect on the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac-- 7,a7 not later than #i years after the date of publication of the plan in the ,federal ,register2 and 7,b7 every #i years thereafter2 and 7#b7 the review of each rule adopted and small entity compliance guide described in subsection 7a77#a7 that is published after the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac-- 7,a7 not later than #i years after the publication of the final rule in the ,federal ,register2 and 7,b7 every #i years thereafter4 7c7 ,in reviewing rules under the plan required under subsection 7a71 the agency shall consider-- 7#a7 the continued need for the rule2 7#b7 the nature of complaints received by the agency from small entities concerning the rule2 7#c7 comments by the ,regulatory ,enforcement ,ombudsman and the ,chief ,counsel for ,advocacy of the ,small ,business ,administration2 7#d7 the complexity of the rule2 7#e7 the extent to which the rule overlaps1 duplicates1 or conflicts with other ,federal rules and1 unless the head of the agency determines it to be infeasible1 ,state and local rules2 7#f7 the contribution of the rule to the cumulative economic impact of all ,federal rules on the class of small entities affected by the rule1 unless the head of the agency determines that such a calculation cannot be made2 7#g7 the length of time since the rule has been evaluated1 or the degree to which technology1 economic conditions1 or other factors have changed in the area affected by the rule2 and 7#h7 the economic impact of the rule1 including-- 7,a7 the estimated number of small entities to which the rule will apply2 7,b7 the estimated number of small entity jobs that will be lost or created due to the rule2 and 7,c7 the projected reporting1 recordkeeping1 and other compliance requirements of the proposed rule1 including-- 7i7 an estimate of the classes of small entities that will be subject to the requirement2 and 7ii7 the type of professional skills necessary for preparation of the report or record4 7d7 7#a7 ,each agency shall submit an annual report regarding the results of the review required under subsection 7a7 to-- 7,a7 ,congress2 and 7,b7 in the case of an agency that is not an independent regulatory agency 7as defined in section #cejb7e7 of title #dd71 the ,administrator of the ,office of ,information and ,regulatory ,affairs of the ,office of ,management and ,budget4 7#b7 ,each report required under paragraph 7#a7 shall include a description of any rule or guide with respect to which the agency made a determination of infeasibility under paragraph 7#e7 or 7#f7 of subsection 7c71 together with a detailed explanation of the reasons for the determination4 7e7 ,each agency shall publish in the ,federal ,register and on the ,web site of the agency a list of the rules and small entity compliance guides to be reviewed under the plan required under subsection 7a7 that includes-- 7#a7 a brief description of each rule or guide2 7#b7 for each rule1 the reason why the head of the agency determined that the rule has a significant economic impact on a substantial number of small entities 7without regard to whether the agency had prepared a final regulatory flexibility analysis for the rule72 and 7#c7 a request for comments from the public1 the ,chief ,counsel for ,advocacy of the ,small ,business ,administration1 and the ,regulatory ,enforcement ,ombudsman concerning the enforcement of the rules or publication of the guides4 7f7 7#a7 ,not later than #f months after each date described in subsection 7b77#a71 the ,inspector ,general for each agency shall-- 7,a7 determine whether the agency has conducted the review required under subsection 7b7 appropriately2 and 7,b7 notify the head of the agency of-- 7i7 the results of the determination under subparagraph 7,a72 and 7ii7 any issues preventing the ,inspector ,general from determining that the agency has conducted the review under subsection 7b7 appropriately4 7#b7 7,a7 ,not later than #f months after the date on which the head of an agency receives a notice under paragraph 7#a77;,b7 that the agency has not conducted the review under subsection 7b7 appropriately1 the agency shall address the issues identified in the notice4 7,b7 ,not later than #cj days after the last day of the #f-month period described in subparagraph 7,a71 the ,inspector ,general for an agency that receives a notice described in subparagraph 7,a7 shall-- 7i7 determine whether the agency has addressed the issues identified in the notice2 and 7ii7 notify ,congress if the ,inspector ,general determines that the agency has not addressed the issues identified in the notice2 and 7,c7 ,not later than #cj days after the date on which the ,inspector ,general for an agency transmits a notice under subparagraph 7,b77ii71 an amount equal to #a percent of the amount appropriated for the fiscal year to the appropriations account of the agency that is used to pay salaries shall be rescinded4 7,d7 ,nothing in this paragraph may be construed to prevent ,congress from acting to prevent a rescission under subparagraph 7,c74 4 #bjf4 ,requiring small business review panels for additional agencies 7a7 ,agencies ,section #fji of title #e1 ,united ,states ,code1 is amended-- 7#a7 in subsection 7b7-- 7,a7 by striking a covered agency the first place it appears and inserting an agency designated under subsection 7d72 and 7,b7 by striking a covered agency each place it appears and inserting the agency2 7#b7 by striking subsection 7d71 as amended by section #aajj;,g7a7 of ,public ,law #aaa-bjc 7#abd ,stat4 #baab71 and inserting the following3 7d7 7#a7 7,a7 ,on and after the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac1 the ,environmental ,protection ,agency and the ,occupational ,safety and ,health ,administration of the ,department of ,labor shall be-- 7i7 agencies designated under this subsection2 and 7ii7 subject to the requirements of subsection 7b74 7,b7 ,on and after the designated transfer date established under section #ajfb of ,public ,law #aaa-bjc 7#ab ,u4,s4,c4 #eehb71 the ,bureau of ,consumer ,financial ,protection shall be-- 7i7 an agency designated under this subsection2 and 7ii7 subject to the requirements of subsection 7b74 7#b7 ,the ,chief ,counsel for ,advocacy shall designate as agencies that shall be subject to the requirements of subsection 7b7 on and after the date of the designation-- 7,a7 #c agencies for the first year after the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac2 7,b7 in addition to the agencies designated under subparagraph 7,a71 #c agencies for the second year after the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac2 and 7,c7 in addition to the agencies designated under subparagraphs 7,a7 and 7,b71 #c agencies for the third year after the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac4 7#c7 ,the ,chief ,counsel for ,advocacy shall designate agencies under paragraph 7#b7 based on the economic impact of the rules of the agency on small entities1 beginning with agencies with the largest economic impact on small entities4 2 and 7#c7 in subsection 7e77#a71 by striking the covered agency and inserting the agency4 7b7 ,technical and conforming amendments 7#a7 ,section #fjc ,section #fjc7;d7 of title #e1 ,united ,states ,code1 as added by section #aajj;,g7b7 of ,public ,law #aaa-bjc 7#abd ,stat4 #baab71 is amended-- 7,a7 in paragraph 7#a71 by striking a covered agency1 as defined in section #fji7;d77#b7 and inserting the ,bureau of ,consumer ,financial ,protection2 and 7,b7 in paragraph 7#b71 by striking ,a covered agency1 as defined in section #fji7;d77#b71 and inserting ,the ,bureau of ,consumer ,financial ,protection4 7#b7 ,section #fjd ,section #fjd7;a7 of title #e1 ,united ,states ,code1 is amended-- 7,a7 by redesignating the second paragraph designated as paragraph 7#f7 7relating to covered agencies71 as added by section #aajj;,g7c77#c7 of ,public ,law #aaa-bjc 7#abd ,stat4 #baac71 as paragraph 7#g72 and 7,b7 in paragraph 7#g71 as so redesignated-- 7i7 by striking a covered agency1 as defined in section #fji7;d77#b7 and inserting the ,bureau of ,consumer ,financial ,protection2 and 7ii7 by striking the agency and inserting the ,bureau4 7#c7 ,effective date ,the amendments made by this subsection shall take effect on the date of enactment of this ,act and apply on and after the designated transfer date established under section #ajfb of ,public ,law #aaa-bjc 7#ab ,u4,s4,c4 #eehb74 #bjg4 ,expanding the ,regulatory ,flexibility ,act to agency guidance documents ,section #fja7b7 of title #e1 ,united ,states ,code1 is amended by inserting after public comment the following3 and any significant guidance document1 as defined in the ,office of ,management and ,budget ,final ,bulletin for ,agency ,good ,guidance ,procedures 7#gb ,fed4 ,reg4 #cdcb2 ,january #be1 #bjjg74 #bjh4 ,requiring the ,internal ,revenue ,service to consider small entity impact 7a7 ,in general ,section #fjc7;a7 of title #e1 ,united ,states ,code1 is amended1 in the fifth sentence1 by striking but only and all that follows through the period at the end and inserting but only to the extent that such interpretative rules1 or the statutes upon which such rules are based1 impose on small entities a collection of information requirement or a recordkeeping requirement44 7b7 ,definitions ,section #fja of title #e1 ,united ,states ,code1 as amended by section #ajc of this title1 is amended-- 7#a7 in paragraph 7#f71 by striking and at the end2 and 7#b7 by striking paragraphs 7#g7 and 7#h7 and inserting the following3 7#g7 the term collection of information has the meaning given that term in section #cejb7c7 of title #dd2 7#h7 the term recordkeeping requirement has the meaning given that term in section #cejb7ac7 of title #dd2 and 4 #bji4 ,reporting on enforcement actions relating to small entities ,section #bbc of the ,small ,business ,regulatory ,enforcement ,fairness ,act of #aiif 7#e ,u4,s4,c4 #fja note7 is amended-- 7#a7 in subsection 7a7-- 7,a7 by striking ,each agency and inserting the following3 7#a7 ,establishment of policy or program ,each agency 2 and 7,b7 by adding at the end the following3 7#b7 ,review of civil penalties ,not later than #b years after the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac1 and every #b years thereafter1 each agency regulating the activities of small entities shall review the civil penalties imposed by the agency for violations of a statutory or regulatory requirement by a small entity to determine whether a reduction or waiver of the civil penalties is appropriate4 2 and 7#b7 in subsection 7c7-- 7,a7 by striking ,agencies shall report and all that follows through the scope and inserting ,not later than #b years after the date of enactment of the ,regulatory ,flexibility ,improvement ,act of #bjac1 and every #b years thereafter1 each agency shall submit to the ,committee on ,small ,business and ,entrepreneurship and the ,committee on ,homeland ,security and ,governmental ,affairs of the ,senate and the ,committee on ,small ,business and the ,committee on the ,judiciary of the ,house of ,representatives a report discussing the scope2 and 7,b7 by striking and the total amount of penalty reductions and waivers and inserting the total amount of penalty reductions and waivers1 and the results of the most recent review under subsection 7a77#b74 #baj4 ,requiring more detailed small entity analyses 7a7 ,initial regulatory flexibility analysis ,section #fjc of title #e1 ,united ,states ,code1 as amended by section #aajj;,g7b7 of ,public ,law #aaa-bjc 7#abd ,stat4 #baab71 is amended-- 7#a7 by striking subsection 7b7 and inserting the following3 7b7 ,each initial regulatory flexibility analysis required under this section shall contain a detailed statement-- 7#a7 describing the reasons why action by the agency is being considered2 7#b7 describing the objectives of1 and legal basis for1 the proposed rule2 7#c7 estimating the number and type of small entities to which the proposed rule will apply2 7#d7 describing the projected reporting1 recordkeeping1 and other compliance requirements of the proposed rule1 including an estimate of the classes of small entities which will be subject to the requirement and the type of professional skills necessary for preparation of the report and record2 7#e7 describing all relevant ,federal rules which may duplicate1 overlap1 or conflict with the proposed rule1 or the reasons why such a description could not be provided2 and 7#f7 estimating the additional cumulative economic impact of the proposed rule on small entities1 including job loss by small entities1 beyond that already imposed on the class of small entities by the agency1 or the reasons why such an estimate is not available4 2 and 7#b7 by adding at the end the following3 7e7 ,an agency shall notify the ,chief ,counsel for ,advocacy of the ,small ,business ,administration of any draft rules that may have a significant economic impact on a substantial number of small entities-- 7#a7 when the agency submits a draft rule to the ,office of ,information and ,regulatory ,affairs of the ,office of ,management and ,budget under ,executive ,order #abhff1 if that order requires the submission2 or 7#b7 if no submission to the ,office of ,information and ,regulatory ,affairs is required-- 7,a7 a reasonable period before publication of the rule by the agency2 and 7,b7 in any event1 not later than #c months before the date on which the agency publishes the rule4 4 7b7 ,final regulatory flexibility analysis 7#a7 ,in general ,section #fjd7;a7 of title #e1 ,united ,states ,code1 is amended-- 7,a7 by inserting detailed before description each place it appears2 7,b7 in paragraph 7#b7-- 7i7 by inserting detailed before statement each place it appears2 and 7ii7 by inserting 7or certification of the proposed rule under section #fje7;b77 after initial regulatory flexibility analysis2 7,c7 in paragraph 7#d71 by striking an explanation and inserting a detailed explanation2 and 7,d7 in paragraph 7#f7 7relating to a description of steps taken to minimize significant economic impact71 as added by section #afja of the ,small ,business ,jobs ,act of #bjaj 7,public ,law #aaa-bdj2 #abd ,stat4 #bbea71 by inserting detailed before statement4 7#b7 ,publication of analysis on web site1 etc ,section #fjd7;b7 of title #e1 ,united ,states ,code1 is amended to read as follows3 7b7 ,the agency shall-- 7#a7 make copies of the final regulatory flexibility analysis available to the public1 including by publishing the entire final regulatory flexibility analysis on the ,web site of the agency2 and 7#b7 publish in the ,federal ,register the final regulatory flexibility analysis1 or a summary of the analysis that includes the telephone number1 mailing address1 and address of the ,web site where the complete final regulatory flexibility analysis may be obtained4 4 7c7 ,cross-,references to other analyses ,section #fje7;a7 of title #e1 ,united ,states ,code1 is amended to read as follows3 7a7 ,a ,federal agency shall be deemed to have satisfied a requirement regarding the content of a regulatory flexibility agenda or regulatory flexibility analysis under section #fjb1 #fjc1 or #fjd1 if the ,federal agency provides in the agenda or regulatory flexibility analysis a cross-reference to the specific portion of an agenda or analysis that is required by another law and that satisfies the requirement under section #fjb1 #fjc1 or #fjd4 4 7d7 ,certifications ,section #fje7;b7 of title #e1 ,united ,states ,code1 is amended1 in the second sentence1 by striking statement providing the factual and inserting detailed statement providing the factual and legal4 7e7 ,quantification requirements ,section #fjg of title #e1 ,united ,states ,code1 is amended to read as follows3 #fjg4 ,quantification requirements ,in complying with sections #fjc and #fjd1 an agency shall provide-- 7#a7 a quantifiable or numerical description of the effects of the proposed or final rule1 including an estimate of the potential for job loss1 and alternatives to the proposed or final rule2 or 7#b7 a more general descriptive statement regarding the potential for job loss and a detailed statement explaining why quantification under paragraph 7#a7 is not practicable or reliable4 4 #baa4 ,ensuring that agencies consider small entity impact during the rulemaking process ,section #fje7;b7 of title #e1 ,united ,states ,code1 is amended-- 7#a7 by inserting 7#a7 after 7b72 and 7#b7 by adding at the end the following3 7#b7 ,if1 after publication of the certification required under paragraph 7#a71 the head of the agency determines that there will be a significant economic impact on a substantial number of small entities1 the agency shall comply with the requirements of section #fjc before the publication of the final rule1 by-- 7,a7 publishing an initial regulatory flexibility analysis for public comment2 or 7,b7 re-proposing the rule with an initial regulatory flexibility analysis4 7#c7 ,the head of an agency may not make a certification relating to a rule under this subsection1 unless the head of the agency has determined-- 7,a7 the average cost of the rule for small entities affected or reasonably presumed to be affected by the rule2 7,b7 the number of small entities affected or reasonably presumed to be affected by the rule2 and 7,c7 the number of affected small entities for which that cost will be significant4 7#d7 ,before publishing a certification and a statement providing the factual basis for the certification under paragraph 7#a71 the head of an agency shall-- 7,a7 transmit a copy of the certification and statement to the ,chief ,counsel for ,advocacy of the ,small ,business ,administration2 and 7,b7 consult with the ,chief ,counsel for ,advocacy of the ,small ,business ,administration on the accuracy of the certification and statement4 4 #bab4 ,additional powers of the ,office of ,advocacy ,section #bjc of ,public ,law #id-cje 7#ae ,u4,s4,c4 #fcd;c7 is amended-- 7#a7 in paragraph 7#e71 by striking and at the end2 7#b7 in paragraph 7#f71 by striking the period at the end and inserting 2 and2 and 7#c7 by inserting after paragraph 7#f7 the following3 7#g7 at the discretion of the ,chief ,counsel for ,advocacy1 comment on regulatory action by an agency that affects small businesses1 without regard to whether the agency is required to file a notice of proposed rulemaking under section #eec of title #e1 ,united ,states ,code1 with respect to the action4 4 #bac4 ,funding and offsets 7a7 ,authorization ,there are authorized to be appropriated to the ,small ,business ,administration1 for any costs of carrying out this title and the amendments made by this title 7including the costs of hiring additional employees7-- 7#a7 #a1jjj1jjj for fiscal year #bjac2 7#b7 #b1jjj1jjj for fiscal year #bjad2 and 7#c7 #c1jjj1jjj for fiscal year #bjae4 7b7 ,repeals ,in order to offset the costs of carrying out this title and the amendments made by this title and to reduce the ,federal deficit1 the following provisions of law are repealed1 effective on the date of enactment of this ,act3 7#a7 ,section #ba7n7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fdh74 7#b7 ,section #bg of the ,small ,business ,act 7#ae ,u4,s4,c4 #fed74 7#c7 ,section #abjc7;c7 of the ,energy ,security and ,efficiency ,act of #bjjg 7#ae ,u4,s4,c4 #feg;h7c774 #bad4 ,technical and conforming amendments 7a7 ,heading ,section #fje of title #e1 ,united ,states ,code1 is amended in the section heading by striking ,avoidance and all that follows and inserting the following3 ,incorporations by reference and certification44 7b7 ,table of sections ,the table of sections for chapter #f of title #e1 ,united ,states ,code1 is amended-- 7#a7 by striking the item relating to section #fje and inserting the following3 #fje4 ,incorporations by reference and certifications4 2 and 7#b7 by striking the item relating to section #fjg and inserting the following3 #fjg4 ,quantification requirements4 4