The "Small Business Regulatory Reduction Act" aims to eliminate regulatory costs imposed by the Small Business Administration (SBA) on small businesses. Beginning in fiscal year 2026, it mandates the SBA Administrator to ensure that the small business regulatory budget for each small business concern is not greater than zero. This budget specifically refers to the net cost incurred by small businesses due to rulemakings conducted by the SBA itself, encompassing new rules, modifications, or repeals. In addition to this core requirement, the bill includes an annual reporting provision. The Administrator must submit a report to Congress detailing rules issued by other Federal agencies during the preceding fiscal year that impact small business concerns, with the information disaggregated by the issuing Federal agency.