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S. 495119th CongressIn committeeLatest action Nov 19, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
S 495 requires federal agencies to estimate indirect regulatory costs on small businesses and lets those businesses challenge agency findings.
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S 495 requires federal agencies to estimate not only direct regulatory costs but also indirect costs on small businesses connected through supply or business relationships. Agencies must publish that analysis within 10 days of issuing a rule. If an agency misses its required 10-year review of an existing rule, that rule automatically stops being effective until the agency justifies reinstating it.
Small business owners across many industries are affected, as are federal regulatory agencies. The Small Business Administration's Office of Advocacy takes on a larger oversight role under the bill.
Small businesses or groups representing them could petition the Small Business Administration's Office of Advocacy to challenge an agency's finding that a rule does not significantly affect them, with the office required to publish findings within 30 days. If an agency refuses to cooperate with that review, the rule cannot apply to small businesses at all.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Committee on Small Business and Entrepreneurship. Hearings held.