Improving Access to Small Business Information Act
This bill allows the Securities and Exchange Commission’s small business advocate to survey entrepreneurs and investors without first getting approval from the federal budget office. By removing standard requirements under the Paperwork Reduction Act, the advocate can quickly gather data on the financial hurdles small companies face. As a result, small business owners may receive direct questionnaires and feedback requests from this office without standard federal tracking numbers or clearance notices.
What this bill touches.
Who it helps · who it burdens.
Who it helps
- Securities and Exchange Commission's Advocate for Small Business Capital FormationSec. 2 exempts the Advocate from standard Paperwork Reduction Act requirements, allowing the office to collect information without submitting requests to the Office of Management and Budget, obtaining official clearance, or displaying an OMB control number.
Who opposes it
- Office of Management and BudgetSec. 2(10)(B)(i) eliminates the requirement that the SEC submit the Advocate's information collections to the Director of OMB, curtailing OMB's oversight and approval authority over those requests.
The provisions, in plain language.
Exempts the Securities and Exchange Commission's Advocate for Small Business Capital Formation from standard Paperwork Reduction Act requirements, allowing the office to gather information from small businesses without submitting requests to the Office of Management and Budget for review, obtaining an official control number, or certifying clearance.