As ordered reported by the House Committee on Small Business on September 18, 2013
H.R. 2542 would amend the Regulatory Flexibility Act (RFA) to expand the number of rules covered by the act and to require agencies to perform additional analysis of regulations that affect small businesses. The legislation also would provide new authorities to the Small Business Administration’s (SBA’s) Office of Advocacy to intervene and provide support for agency rulemaking. Finally, H.R. 2542 would require the Government Accountability Office (GAO) to report on the implementation of the legislation.
CBO estimates that implementing H.R. 2542 would cost $45 million over the 2014-2018 period, assuming appropriation of the necessary funds. Enacting the bill could affect direct spending by agencies not funded through annual appropriations; therefore, pay-as-you-go procedures apply. CBO estimates, however, that any net increase in spending by those agencies would not be significant. Enacting H.R. 2542 would not affect revenues.
H.R. 2542 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.