Regulatory Flexibility Act

Regulatory Flexibility Act - Requires Federal agencies to include the following information in the general notice of a proposed rule: (1) the goals and purpose of the rule; (2) the estimated number of individuals, businesses, organizations, and governmental jurisdictions affected by the rule; (3) a statement that the agency seeks alternative proposals which could achieve the goal of the proposed rule at a lower cost to individuals, small businesses, small organizations, and small governmental jurisdictions; and (4) a list of the measures necessary for compliance with any reporting requirement affecting more than ten persons.

Requires Federal agencies to accept and consider alternative proposals to a proposed rule and to publish those proposals with justification of the selection of the final rule. Defines a small business, small organization, small governmental jurisdiction, and an individual as used in this Act.

Directs each agency to publish a plan for reviewing its rules within 180 days after enactment of this Act. Requires each agency to determine whether such rules are efficiently achieving the goals of the implementing legislation. Directs each agency to publish annually a list of the rules to be issued and reviewed during the next year.