H.R.2550 - Minority Small Business Enhancement Act of 2013

To amend the Small Business Act to enhance services to small business concerns that are disadvantaged, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To amend the Small Business Act to enhance services to small business concerns that are disadvantaged, and for other purposes. as introduced.
  • Short: Minority Small Business Enhancement Act of 2013 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
06/27/13
 
 
 
 
 
 
 

Official Summary

Minority Small Business Enhancement Act of 2013 - Amends the Small Business Act to consider an individual with a net worth of less than $1.5 million as eligible for participation in a Small Business Administration (SBA) program providing grants to small businesses owned and controlled by ec

Official Summary

Minority Small Business Enhancement Act of 2013 - Amends the Small Business Act to consider an individual with a net worth of less than $1.5 million as eligible for participation in a Small Business Administration (SBA) program providing grants to small businesses owned and controlled by economically disadvantaged individuals. Allows a small business to receive SBA developmental assistance under the program for the entire period of an SBA-guaranteed loan. Redefines the term \"bundled contract\" to mean a contract or order entered into to meet procurement requirements that are consolidated in a bundling of contract requirements, without regard to its designation by the procuring agency or whether a study of the effects of the solicitation on civilian or military personnel has been made, subject to exceptions. Expands the definition of \"bundling of contract requirements.\" Makes the revised and expanded definitions inapplicable to contracts for construction services under $65 million or under $5 million for all other types of contracts. Increases from:
(1) 23% to 25% the government-wide small business procurement contract goal, and
(2) 5% to 10% the government-wide procurement goal for small disadvantaged businesses and women-owned businesses. Limits the number of categories for which a small business may qualify under such goals. Requires a report from the Comptroller General to Congress on disparities in the awarding of federal contracts to small businesses owned and controlled by socially and economically disadvantaged individuals, small businesses, and other businesses.

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