Improving Access to Small Business Information Act

This bill would change how the Securities and Exchange Commission (SEC) handles the actions of the Advocate for Small Business Capital Formation (ASBCF). Specifically, it would treat those actions as not being a “collection of information” under the Paperwork Reduction Act (PRA). In practice, this means the ASBCF’s activities could operate with less federal paperwork review by the Office of Management and Budget (OMB). However, certain PRA-related requirements would still apply to these actions, and the SEC would retain some limited obligations. The aim is to streamline the ASBCF’s work to improve access to information for small businesses seeking capital, while preserving a minimal level of statutory safeguards. The bill does not rename or restructure the ASBCF; it simply expands PRA exemptions for its actions. It also indicates that the bill’s PRA-related exceptions would not require the SEC to submit information to OMB, to display control numbers, or to confirm clearance status for these particular actions, though some compliance requirements would still apply.