the head of the agency (or the delegatee of the head of 
the agency), or an independent regulatory agency deter-
mines 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 con-
sumers, individual industries, Federal, State, or local 
governments, tribal organizations, or geographic re-
gions; 
‘‘(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 sub-
stantial number of small entities. 
‘‘(f) Upon application by the agency, the Chief Coun-
sel for Advocacy of the Small Business Administration 
may waive the requirements of subsections (b) through (e) 
if the Chief Counsel determines that compliance with the 
requirements of such subsections are impracticable, un-
necessary, or contrary to the public interest.’’. 
SEC. 7. PERIODIC REVIEW OF RULES. 
Section 610 of title 5, United States Code, is amend-
ed to read as follows:
‘‘§ 610. Periodic review of rules 
‘‘(a) Not later than 180 days after the enactment of 
the Regulatory Flexibility Improvements Act of 2011, 
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 deter-
mines have a significant economic 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 contin-
ued without change, or should be amended or rescinded, 
consistent with the stated objectives of applicable statutes, 
to minimize any adverse significant economic impacts or 
maximize any beneficial significant economic impacts on 
a substantial number of small entities. Such plan may be 
amended by the agency at any time by publishing the revi-
sion in the 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 2011 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 2011 within 10 years after the publication of the
final rule in the Federal Register. If the head of the agen-
cy determines that completion of the review of existing 
rules is not feasible by the established date, the head of 
the agency shall so certify in a statement published in the 
Federal 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 in-
clude small businesses for the purposes of carrying out 
this section. The agency shall include in this section a plan 
for how the agency will contact small businesses and gath-
er their input on existing agency rules. 
‘‘(d) Each agency shall annually submit a report re-
garding the results of its review pursuant to such plan 
to the Congress, the Chief Counsel for Advocacy of the 
Small Business Administration, and, in the case of agen-
cies other than independent regulatory agencies (as de-
fined in section 3502(5) of title 44) to the Administrator 
of the Office of Information and Regulatory Affairs of the 
Office of Management and Budget. Such report shall in-
clude the identification of any rule with respect to which 
the head of the agency made a determination described
in paragraph (5) or (6) of subsection (e) and a detailed 
explanation of the reasons for such determination. 
‘‘(e) In reviewing a rule pursuant to subsections (a) 
through (d), the agency shall amend or rescind the rule 
to minimize any adverse significant economic impact on 
a substantial number of small entities or disproportionate 
economic impact on a specific class of small entities, or 
maximize any beneficial significant economic impact of the 
rule on a substantial number of small entities to the great-
est extent possible, consistent with the stated objectives 
of applicable statutes. In amending or rescinding the rule, 
the agency shall consider the following factors: 
‘‘(1) The continued need for the rule. 
‘‘(2) The nature of complaints received by the 
agency from small entities concerning the rule. 
‘‘(3) Comments by the Regulatory Enforcement 
Ombudsman and the Chief Counsel for Advocacy of 
the Small Business Administration. 
‘‘(4) The complexity of the rule. 
‘‘(5) The extent to which the rule overlaps, du-
plicates, or conflicts with other Federal rules and, 
unless the head of the agency determines it to be in-
feasible, State, territorial, and local rules. 
‘‘(6) The contribution of the rule to the cumu-
lative economic impact of all Federal rules on the
class of small entities affected by the rule, unless the 
head of the agency determines that such calculations 
cannot be made and reports that determination in 
the annual report required under subsection (d). 
‘‘(7) The length of time since the rule has been 
evaluated or the degree to which technology, eco-
nomic conditions, or other factors have changed in 
the area affected by the rule. 
‘‘(f) The agency shall publish in the Federal Register 
and on its website a list of rules to be reviewed pursuant 
to such plan. Such publication shall include a brief de-
scription of the rule, the reason why the agency deter-
mined that it has a significant economic impact on a sub-
stantial number of small entities (without regard to wheth-
er it had prepared a final regulatory flexibility analysis 
for the rule), and request comments from the public, the 
Chief Counsel for Advocacy of the Small Business Admin-
istration, and the Regulatory Enforcement Ombudsman 
concerning the enforcement of the rule.’’.
SEC. 8. JUDICIAL REVIEW OF COMPLIANCE WITH THE RE-
QUIREMENTS OF THE REGULATORY FLEXI-
BILITY ACT AVAILABLE AFTER PUBLICATION 
OF THE FINAL RULE. 
(a) IN GENERAL.—Paragraph (1) of section 611(a) 
of title 5, United States Code, is amended by striking 
‘‘final agency action’’ and inserting ‘‘such rule’’. 
(b) JURISDICTION.—Paragraph (2) of such section is 
amended by inserting ‘‘(or which would have such jurisdic-
tion if publication of the final rule constituted final agency 
action)’’ after ‘‘provision of law,’’. 
(c) TIME FOR BRINGING ACTION.—Paragraph (3) of 
such section is amended— 
(1) by striking ‘‘final agency action’’ and insert-
ing ‘‘publication of the final rule’’; and 
(2) by inserting ‘‘, in the case of a rule for 
which the date of final agency action is the same 
date as the publication of the final rule,’’ after ‘‘ex-
cept that’’. 
(d) INTERVENTION BY CHIEF COUNSEL FOR ADVO-
CACY.—Subsection (b) of section 612 of title 5, United 
States Code, is amended by inserting before the first pe-
riod ‘‘or agency compliance with section 601, 603, 604, 
605(b), 609, or 610’’.