Supporters of the legislation noted that many small businesses pay a bigger share of their income to comply with regulations than large firms, and that they are often concerned about asking for advice because they fear it will trigger an enforcement action.
The bill would alleviate those concerns. It would also require the SBA to submit periodic reports on the number of small businesses it has assisted, as well as a list of regulations that the agency feels are too onerous for small businesses.
The legislation has been sent to the Senate for consideration.
To view the House bill, click here, and type in H.R. 205 in the upper left hand corner.