S.1807 - RISE Small Business Act of 2015114th Congress (2015-2016)

Summary: S.1807 — 114th Congress (2015-2016)All Information (Except Text)

Shown Here:
Introduced in Senate (07/21/2015)

Regulatory Impact Scale on the Economy Small Business Act of 2015 or the RISE Small Business Act of 2015

Requires a federal agency, before promulgating a proposed or final rule that it determines is likely to have an annual effect on the economy of at least $100 million, to assign the rule to, and publish in the Federal Register, the following category that applies based on the highest possible annual effect the agency determines the rule is likely to have on the economy:

• category 1 rule likely to result in an annual effect of between $100 million and $499,999,999;
• category 2 rule likely to result in an annual effect of between $500 million and $999,999,999;
• category 3 rule likely to result in an annual effect of between $1 billion and $4,999,999,999;
• category 4 rule likely to result in an annual effect of between $5 billion and $9,999,999,999; and
• category 5 rule likely to result in an annual effect of not less than $10 billion.

Directs: (1) each agency to submit to the Office of Information and Regulatory Affairs (OIRA) annually a list of the rules, by category, that the agency published during the preceding year; and (2) OIRA to publish each list and an estimate of the costs and benefits of each included rule on www.reginfo.gov.

Defines "significant economic impact" for purposes of provisions concerning initial and final regulator flexibility analyses as an annual economic effect of at least $100 million.