PROCEDURES RELATING TO INTERNAL REVENUE SERVICE REGULATIONS.

SEC. 6232. PROCEDURES RELATING TO INTERNAL REVENUE SERVICE REGULATIONS. (a) In General.—Section 7805 of the 1986 Code (relating to rules and regulations) is amended by adding at the end thereof the following new subsections: “(e) Temporary Regulations.— “(1) Issuance.—Any temporary regulation issued by the Secretary shall also be issued as a proposed regulation. 102 STAT. 3735 “(2) 3-year duration.—Any temporary regulation shall expire within 3 years after the date of issuance of such regulation. “(f) Impact of Regulations on Small Business Reviewed.—After the publication of any proposed regulation by the Secretary and before the promulgation of any final regulation by the Secretary which does not supersede a proposed regulation, the Secretary shall submit such regulation to the Administrator of the Small Business Administration for comment on the impact of such regulation on small business. The Administrator shall have 4 weeks from the date of submission to respond.” (b) Effective Date.—The amendments made by this section shall apply to any regulation issued after the date which is 10 days after the date of the enactment of this Act.