S. 387 — Small Business Regulatory Reduction Act

This section establishes requirements for the Small Business Administration (SBA) regarding regulatory costs imposed on small business concerns (as defined in 15 U.S.C. 632). It defines "small business regulatory budget" as the cost to a small business concern from SBA rulemaking, including costs from issuing new rules or modifying or repealing existing rules. It requires the SBA Administrator to ensure that, in FY2026 and each fiscal year thereafter, the small business regulatory budget for each small business concern is not greater than zero. It further requires the Administrator to submit to Congress, not later than 60 days after the end of FY2025 and annually thereafter, a report listing rules issued by other federal agencies during the preceding fiscal year that impact small business concerns, disaggregated by issuing agency.