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PACER Act


Bill Schmidt

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Pecuniary Assistance for Compliance with Evolving Regulations (PACER) Act 

Senator SCHMIDT, for himself, submits

A BILL

To create a federal fund for the support of small businesses in complying with new regulations, and for other purposes

SECTION 1. SHORT TITLE. 

(a) This bill may be cited as the "Pecuniary Assistance for Compliance with Evolving Regulations (PACER) Act"

SECTION 2. DEFINITIONS.

(a) A "small business" is defined as a firm which employs fewer than 100 people.

SECTION 3. PECUNIARY ASSISTANCE FUND.

(a) The Department of Commerce shall establish a fund, totalling $4 billion, to be described as the Pecuniary Assistance for Compliance with Evolving Regulations Fund (PACE-F.)

(b) The PACE-F fund shall be deployed by the Department of Commerce to assist small businesses through any means deemed appropriate by the Department, including through public information campaigns, the provision of administrative support and the publication of guidance, to comply with new or evolving regulations established by any federal agency.

(c) The PACE-F fund can also be used, at the discretion of the Commerce Secretary or their designated subordinate person, to directly compensate a small business on a one-off basis where that business' revenues have been negatively affected by new or evolving regulation to a degree deemed disproportionate to the supposed benefit of that regulatory imposition.

SECTION 4. ENACTMENT.

(a) This bill shall go into effect immediately upon its Constitutional passage.

Bill Schmidt
Senator from Arizona
******

Former Governor of Arizona (1997-2003)

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