Sec. 123. Requiring meaningful participation from targeted businesses
146 words·~1 min read·
/bill/116/s/2404/is/section-123A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except to the extent that the head of the relevant Federal agency determines otherwise, not less than the percentage described in subsection
(b)for the applicable fiscal year of the amounts made available for a covered infrastructure program shall be expended through businesses owned and controlled by— socially or economically disadvantaged individuals; women; veterans; LGBTQ individuals; disabled individuals; or ex-offenders. The percentage referred to in subsection
(a)is— for fiscal year 2020, 6 percent; for fiscal year 2021, 12 percent; for fiscal year 2022, 18 percent; for fiscal year 2023, 24 percent; and for fiscal year 2024 and each fiscal year thereafter, 30 percent. Not less frequently than once each fiscal year, the Secretary of Commerce, in consultation with the Administrator of the Small Business Administration and the heads of the relevant Federal agencies, shall submit to Congress a report on the implementation of subsection (a).