Sec. 3. Rulemaking
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Not later 1 year after the date of enactment of this subsection and for each industry category for which the Administrator of the Small Business Administration established a size standard under section 3(a) of the Small Business Act ( 15 U.S.C. 632(a) ), the Administrator shall issue a rule— establishing procedures for designating a small business concern in each such industry category as an emerging business enterprise that include the criteria under subsection (gg)(3) of section 3 of the Small Business Act ( 15 U.S.C. 632 ), as added by this Act, and a process for appealing designation decisions of the Administrator; establishing procedures for certification by the Administrator as an emerging business enterprise; requiring a small business concern to annually submit documentation to the Administrator to establish eligibility for designation as an emerging business enterprise; and establishing compliance requirements for emerging business enterprises.
In this section: The term small business concern has the meaning given under section 3 of the Small Business Act ( 15 U.S.C. 632 ). The term emerging business enterprise has the meaning given under subsection
(gg)of section 3 of the Small Business Act ( 15 U.S.C. 632 ), as added by this Act.
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