S. 2074 · 117th Congress
Prove It Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
No cosponsors.
This bill authorizes the Small Business Administration (SBA) to request a review of any federal agency certification that a proposed rule will not have a significant economic impact on a substantial number of small entities. The request must explain why the SBA disagreed with the certification and provide a factual basis for the statement.
What it does: CRS summary · Introduced in Senate · Jun 16, 2021
Prove It Act of 2021
This bill authorizes the Small Business Administration (SBA) to request a review of any federal agency certification that a proposed rule will not have a significant economic impact on a substantial number of small entities. The request must explain why the SBA disagreed with the certification and provide a factual basis for the statement. If it is determined, after agency review and reconsideration, that the proposed rule will have a significant economic impact on a substantial number of small entities, the agency shall then perform an initial regulatory flexibility analysis for the rule.
An initial regulatory flexibility analysis is prepared to ensure the agency has considered all reasonable regulatory alternatives that would minimize the rule's economic burdens or increase its benefits for the affected small entities, while achieving the objectives of the rule or statute.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Prove It Act of 2021
Latest action (Jun 16, 2021): Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Policy area: Commerce · Origin: Senate · Introduced: Jun 16, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.