subsection (b), the Chief Counsel for Advo-
cacy of the Small Business Administration 
shall— 
‘‘(1) identify small entities or rep-
resentatives of small entities or a com-
bination of both for the purpose of ob-
taining advice, input, and recommenda-
tions from those persons about the poten-
tial economic impacts of the proposed 
rule and the compliance of the agency 
with section 603; and 
‘‘(2) convene a review panel con-
sisting of an employee from the Office of 
Advocacy of the Small Business Adminis-
tration, an employee from the agency 
making the rule, and in the case of an 
agency other than an independent regu-
latory agency (as defined in section 
3502(5) of title 44), an employee from the 
Office of Information and Regulatory Af-
fairs of the Office of Management and 
Budget to review the materials and infor-
mation provided to the Chief Counsel 
under subsection (b). 
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‘‘(d)(1) Not later than 60 days after the re-
view panel described in subsection (c)(2) is 
convened, the Chief Counsel for Advocacy of 
the Small Business Administration shall, after 
consultation with the members of such panel, 
submit a report to the agency and, in the case 
of an agency other than an independent regu-
latory agency (as defined in section 3502(5) of 
title 44), the Office of Information and Regu-
latory Affairs of the Office of Management 
and Budget. 
‘‘(2) Such report shall include an assess-
ment of the economic impact of the proposed 
rule on small entities, including an assess-
ment of the proposed rule’s impact on the cost 
that small entities pay for energy, an assess-
ment of the proposed rule’s impact on start- 
up costs for small entities, and a discussion of 
any alternatives that will minimize adverse 
significant economic impacts or maximize 
beneficial significant economic impacts on 
small entities. 
‘‘(3) Such report shall become part of the 
rulemaking record. In the publication of the 
proposed rule, the agency shall explain what 
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actions, if any, the agency took in response to 
such report. 
‘‘(e) A proposed rule is described by this 
subsection if the Administrator of the Office 
of Information and Regulatory Affairs of the 
Office of Management and Budget, the head of 
the agency (or the delegatee of the head of the 
agency), or an independent regulatory agency 
determines that the proposed rule is likely to 
result in— 
‘‘(1) an annual effect on the economy 
of $100,000,000 or more; 
‘‘(2) a major increase in costs or 
prices for consumers, individual indus-
tries, Federal, State, or local govern-
ments, 
tribal 
organizations, 
or 
geo-
graphic regions; 
‘‘(3) significant adverse effects on 
competition, 
employment, 
investment, 
productivity, innovation, or on the ability 
of United States-based enterprises to 
compete with foreign-based enterprises 
in domestic and export markets; or 
‘‘(4) a significant economic impact on 
a substantial number of small entities. 
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‘‘(f) Upon application by the agency, the 
Chief Counsel for Advocacy of the Small Busi-
ness Administration may waive the require-
ments of subsections (b) through (e) if the 
Chief Counsel determines that compliance 
with the requirements of such subsections are 
impracticable, unnecessary, or contrary to 
the public interest. 
‘‘(g) A small entity or a representative of 
a small entity may submit a request that the 
agency provide a copy of the report prepared 
under subsection (d) and all materials and in-
formation provided to the Chief Counsel for 
Advocacy of the Small Business Administra-
tion under subsection (b). The agency receiv-
ing such request shall provide the report, ma-
terials and information to the requesting 
small entity or representative of a small enti-
ty not later than 10 business days after receiv-
ing such request, except that the agency shall 
not disclose any information that is prohib-
ited from disclosure to the public pursuant to 
section 552(b) of this title.’’. 
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SEC. 7. PERIODIC REVIEW OF RULES. 
Section 610 of title 5, United States Code, 
is amended to read as follows: 
‘‘§ 610. Periodic review of rules 
‘‘(a) Not later than 180 days after the en-
actment of the Regulatory Flexibility Im-
provements Act of 2013, each agency shall 
publish in the Federal Register and place on 
its website a plan for the periodic review of 
rules issued by the agency which the head of 
the agency determines have a significant eco-
nomic impact on a substantial number of 
small entities. Such determination shall be 
made without regard to whether the agency 
performed an analysis under section 604. The 
purpose of the review shall be to determine 
whether such rules should be continued with-
out change, or should be amended or re-
scinded, consistent with the stated objectives 
of applicable statutes, to minimize any ad-
verse significant economic impacts or maxi-
mize any beneficial significant economic im-
pacts on a substantial number of small enti-
ties. Such plan may be amended by the agency 
at any time by publishing the revision in the 
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Federal Register and subsequently placing 
the amended plan on the agency’s website. 
‘‘(b) The plan shall provide for the review 
of all such agency rules existing on the date 
of the enactment of the Regulatory Flexibility 
Improvements Act of 2013 within 10 years of 
the date of publication of the plan in the Fed-
eral Register and for review of rules adopted 
after the date of enactment of the Regulatory 
Flexibility Improvements Act of 2013 within 
10 years after the publication of the final rule 
in the Federal Register. If the head of the 
agency determines that completion of the re-
view of existing rules is not feasible by the es-
tablished date, the head of the agency shall so 
certify in a statement published in the Fed-
eral Register and may extend the review for 
not longer than 2 years after publication of 
notice of extension in the Federal Register. 
Such certification and notice shall be sent to 
the Chief Counsel for Advocacy of the Small 
Business Administration and the Congress. 
‘‘(c) The plan shall include a section that 
details how an agency will conduct outreach 
to and meaningfully include small businesses 
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