The rules were selected by SBA with input from the public and other agencies. This regulatory review and reform initiative, or “r3,” proceeds under the Regulatory Flexibility Act, and was launched in August 2007. The Office of Advocacy’s website explains:

"r3, is designed to identify and address existing federal regulations that should be revised because they are ineffective, duplicative, or out of date. r3 is a tool for small business stakeholders to suggest needed reforms. r3 includes the process under Section 610 of the Regulatory Flexibility Act for agencies to consider whether their current regulations are still needed, and the degree to which technology, economic conditions, or other factors have changed since their rules were first promulgated. r3 also includes a process by which interested stakeholders can nominate existing regulations for reform, and monitor the progress that agencies make toward achieving those reforms."

This is a very important and useful regulatory reform program. We encourage the public to attend the press conference and panel discussion