(2) Paragraph (3) of such section is amended 
by striking ‘‘an explanation’’ and inserting ‘‘a de-
tailed explanation’’. 
(3) Paragraph (4) of such section is amended 
to read as follows: 
‘‘(4) a description of the projected reporting, 
recordkeeping, and other compliance requirements of 
the rule, including an estimate of the classes of 
small entities which will be subject to the require-
ment, the costs, and the type of professional skills 
necessary to comply with the rule; and’’. 
(c) CERTIFICATION OF NO IMPACT.—Subsection (b) 
of section 605 of title 5, United States Code, is amended 
by inserting ‘‘detailed’’ before ‘‘statement’’ both places 
such term appears. 
SEC. 5. 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 Small Business Regulatory Improvement Act, 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 economic impact on a substantial num-
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ber of small entities. Such determination shall be made 
without regard to whether the agency performed an anal-
ysis under section 604. The purpose of the review shall 
be to determine whether such rules should be continued 
without change, or should be amended or rescinded, con-
sistent with the stated objectives of applicable statutes, to 
minimize significant economic impacts on a substantial 
number of small entities. Such plan may be amended by 
the agency at any time by publishing the revision 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 
Small Business Regulatory Improvement Act within 10 
years of the date of publication of the plan in the Federal 
Register and for review of rules adopted after the date 
of enactment of the Small Business Regulatory Improve-
ment Act 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 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 
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be sent to the Chief Counsel for Advocacy and the Con-
gress. 
‘‘(c) Each agency shall annually submit a report re-
garding the results of its review pursuant to such plan 
to the Congress and, in the case of agencies other than 
independent regulatory agencies (as defined in section 
3502(5) of title 44, United States Code) to the Adminis-
trator of the Office of Information and Regulatory Affairs 
of the Office of Management and Budget. Such report 
shall include the identification of any rule with respect to 
which the head of the agency made a determination de-
scribed in paragraph (5) or (6) of subsection (d) and a 
detailed explanation of the reasons for such determination. 
‘‘(d) In reviewing rules under such plan, 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. 
‘‘(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 and local rules. 
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‘‘(6) 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. 
‘‘(e) 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, and the Regulatory Enforce-
ment Ombudsman concerning the enforcement of the 
rule.’’. 
SEC. 6. CHANGES TO THE REGULATORY FLEXIBILITY ACT 
TO COMPORT WITH EXECUTIVE ORDER 13272. 
(a) INITIAL REGULATORY FLEXIBILITY ANALYSIS.— 
Section 603 of title 5, United States Code, is amended 
by adding at the end the following: 
‘‘(d) An agency shall notify the Chief Counsel for Ad-
vocacy of the Small Business Administration of any draft 
rules that may have a significant economic impact on a 
substantial number of small entities either— 
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‘‘(1) when the agency submits a draft rule to 
the Office of Information and Regulatory Affairs at 
the Office of Management and Budget, if submission 
is required; or 
‘‘(2) if no submission to the Office of Informa-
tion and Regulatory Affairs is so required, at a rea-
sonable time prior to publication of the rule by the 
agency.’’. 
(b) FINAL REGULATORY FLEXIBILITY ANALYSIS.— 
(1) INCLUSION OF RESPONSE TO COMMENTS ON 
CERTIFICATION
OF
PROPOSED
RULE.—Paragraph 
(2) of section 604(a) of title 5, United States Code, 
is amended by inserting after ‘‘initial regulatory 
flexibility analysis’’ the following: ‘‘(or certification 
of the proposed rule under section 605(b))’’. 
(2) INCLUSION
OF
RESPONSE
TO
COMMENTS 
FILED BY CHIEF COUNSEL FOR ADVOCACY.—Sub-
section (a) of section 604 of title 5, United States 
Code, is amended by redesignating paragraphs (3) 
through (5) as (4) through (6), respectively, and by 
inserting after paragraph (2) the following: 
‘‘(3) the agency’s response to any comments 
filed by the Chief Counsel for Advocacy of the Small 
Business Administration in response to the proposed 
rule, and a detailed statement of any changes made 
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to the proposed rule in the final rule as a result of 
such comments;’’. 
Æ 
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