US HB2965

SBA Administrator must ensure the agency's small business regulatory budget is not greater than zero starting in fiscal year 2026, meaning new regulations cannot impose net costs on small businesses

"Small business regulatory budget" is defined as the total cost to small businesses from new rules plus costs from modifying or repealing existing rules

Chief Counsel for the SBA Office of Advocacy must submit annual reports to Congress within 60 days after each fiscal year end, beginning after FY 2025

Annual reports must include total small business regulatory budgets for each federal agency, list all rules issued that impact small businesses, and break down data by issuing agency

No additional funds are authorized to implement the act