S. 387 requires the Small Business Administration to ensure that the costs imposed on small businesses by new federal regulations do not exceed zero dollars starting in fiscal year 2026. This means the SBA must prevent any net increase in regulatory costs to small business concerns, either by blocking new regulations that would burden them or by offsetting any new costs through the repeal or modification of existing rules. The bill affects all small businesses as defined under the Small Business Act and applies to rules issued by the SBA itself. Additionally, the SBA must submit annual reports to Congress beginning in 2025 documenting all federal regulations issued by any agency that impact small businesses, organized by agency. The legislation contains no new funding authorization and relies on existing resources to implement these requirements.
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