Long title | An Act to amend title 5, United States Code, to improve federal rulemaking by creating procedures to analyze the availability of more flexible regulatory approaches for small entities, and for other purposes |
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Acronyms (colloquial) | RFA / "the Reg Flex Act" |
Enacted by | the 96th United States Congress |
Effective | September 19, 1980 |
Citations | |
Public law | 96-354 |
Statutes at Large | 94 Stat. 1164 |
Codification | |
Acts amended | Administrative Procedure Act |
Titles amended | 5 U.S.C.: Government Organization and Employees |
U.S.C. sections created | 5 U.S.C. ch. 6 § 601 et seq. |
Legislative history | |
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Major amendments | |
Small Business Regulatory Enforcement Fairness Act (SBREFA), P.L. 104-121, 1996 |
Administrative law of the United States |
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The Regulatory Flexibility Act (RFA) is perhaps the most comprehensive effort[according to whom?] by the US federal government to balance the social goals of federal regulations with the needs and capabilities of small businesses and other small entities in American society. In practice, the RFA attempts to "scale" the actions of the federal government to the size of the groups and organizations affected.
Passed in 1980, the RFA has been gradually strengthened in the intervening years, and has historically enjoyed strong bipartisan support.[citation needed]
Since the federal government began calculating the economic impact of the RFA in 1998, the law is estimated to have saved small entities (and the US economy as a whole) more than $200 billion[1] without undermining the broad purposes of the regulations it affects. More than 40 US states, as well as a number of other nations, have adopted similar approaches.