What is the Federal Regulatory Flexibility Act?

The Federal Regulatory Flexibility Act (FRFA) is a law in the United States that was enacted in 1980. It is meant to reduce the burden of administrative regulations on small businesses. In Virginia, the FRFA is enforced by the U.S. Small Business Administration (SBA). Under the FRFA, agencies must evaluate the potential impact of a proposed regulation on small businesses. The agency must identify the particular sector of small business that will be most affected, and make efforts to minimize the burden on that sector. The agency must also provide an opportunity for small businesses to participate in the rule-making process. The FRFA also requires that agencies make specific provisions for small businesses when implementing a rule. For example, the FRFA requires that agencies provide a period of time for small businesses to comply with the rule, or provide special exemptions for small businesses. Finally, the FRFA requires that agencies review existing regulations every ten years to determine whether the regulations are still necessary or if they can be modified or eliminated in order to reduce the burden on small businesses. The FRFA is an important law in Virginia, as it helps to ensure that small businesses are not overburdened by regulatory requirements. By providing an opportunity for small businesses to participate in the rule-making process, and imposing specific provisions for their compliance, the FRFA helps ensure that small businesses are treated fairly.

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What is the Federal Regulatory Flexibility Act?

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