Prove It Act of 2023

This bill amends federal regulations to require agencies to better assess how proposed rules impact small businesses, including indirect costs like supply chain effects. It creates a formal process allowing small businesses or their representatives to petition the Small Business Administration (SBA) to review agency claims that a rule won’t significantly affect them. The SBA must then evaluate these petitions within 10 days, potentially ordering agencies to redo their analysis or face penalties. This directly affects small businesses (as petitioners) and federal agencies (as rulemakers), making regulatory impact assessments more transparent and accountable.