Prove It Act

This bill requires federal agencies to analyze indirect economic costs on small businesses when creating new rules, including costs affecting businesses that interact with regulated entities (like suppliers or partners). It creates a new process allowing small businesses to petition the Small Business Administration's Chief Counsel to review agency certifications claiming a rule won't significantly impact them. Agencies must then provide detailed cost analyses, publish guidance online for small business feedback, and face penalties if they fail to cooperate with reviews. The bill does not change existing regulations but adds new review steps for small business input.