Sec. 404. Duration of participation; ramp-up period; transition period
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Section 7(j)(15) of the Small Business Act ( 15 U.S.C. 636(j)(15) ) is amended— in the matter preceding subparagraph (A), by striking nine years and inserting 10 years ; in subparagraph (A), by striking four years and inserting 5 years ; and in subparagraph (B), by striking five years and inserting 5 years . In this subsection, the term covered small business concern means a small business concern that, as of the date of enactment of this Act— is in the first 3 years as a participant in the program established under section 8(a) of the Small Business Act ( 15 U.S.C. 637(a) ); is an individually owned entity; and has not been awarded a contract under such section 8(a), excluding contracts that meet the simplified acquisition threshold described in section 134 of title 41, United States Code.
Subject to subparagraph (B), a covered small business concern may elect at the time of certification to begin the 10-year program participation period under section 7(j)(15) of the Small Business Act ( 15 U.S.C. 636(j)(15) ), as amended by subsection (a), on the earlier of— the date on which the covered small business concern is awarded a contract under section 8(a) of the Small Business Act ( 15 U.S.C. 637(a) ); or 3 years after the date on which the covered small business concern was certified to participate in the program established under such section 8(a).
Notwithstanding subparagraph (A), the program participation period for a covered small business concern under section 7(j)(15) of the Small Business Act ( 15 U.S.C. 636(j)(15) ) shall not exceed 13 years. Except as provided in subparagraph (B), if a covered small business concern makes an election under paragraph (2), the covered small business concern shall— participate in 12 hours per year of marketing, business development training, and engagement to show intent in building capacity to participate in the Federal contracting market, which shall be satisfied through training provided by the Administration, the Minority Business Development Agency, resource partners of the Administration, Procurement Technical Assistance Centers, or national organizations with expertise in Federal contracting or that provide contracting certifications; and log the progress of the covered small business concern on the training carried out under clause
(i)in the annual review submitted by the covered small business concern. The requirements under subparagraph (A)(i) shall be waived for a covered small business concern if, before reaching 36 hours of training under subparagraph (A)(i), the covered small business concern is awarded a contract under section 8(a) of the Small Business Act ( 15 U.S.C. 637(a) ). Notwithstanding clause (i), a covered small business concern that receives a waiver under clause
(i)is required to log the training in which the small business concern participates under subparagraph
(A)in accordance with clause
(ii)of such subparagraph. In this subsection— the term covered small business concern means a small business concern that is in the final 3 years of participation in the program established under section 8(a) of the Small Business Act ( 15 U.S.C. 637(a) ); and the term economically disadvantaged individual means an individual described in section 8(a)(6)(A) of the Small Business Act ( 15 U.S.C. 637(a)(6)(A) ). The Administrator may permit the owner of a covered small business concern to have an adjusted gross income and personal net worth that is not more than 3 times higher than the amount allowed for the covered small business program under the program established under section 8(a) of the Small Business Act ( 15 U.S.C. 637(a) ), and continue to be considered economically disadvantaged for the purposes of that program, if the owner demonstrates— an investment in the covered small business concern to continue to compete in the Federal contracting market, such as investment in company infrastructure; a plan for how the covered small business concern is being prepared to compete for Federal contracts after exiting the program established under section 8(a) of the Small Business Act ( 15 U.S.C. 637(a) ); and any other metrics as determined by the Administrator.
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