H.R. 974 — Small Business Regulatory Reduction Act

This section requires the Administrator of the Small Business Administration (SBA) to ensure that, in FY2026 and each fiscal year thereafter, the small business regulatory budget (i.e., net costs to each small business concern from SBA rulemakings, including new rules or modifications or repeals of existing rules) does not exceed zero. (Thus, any costs imposed by new SBA rules must be fully offset by cost savings from other rulemakings.) It further requires SBA to submit to Congress, not later than 60 days after the end of FY2025 and annually thereafter, a report identifying all rules issued by other federal agencies in the preceding fiscal year that impact small business concerns (as defined in 15 U.S.C. 632), disaggregated by issuing agency.