Bill 118 s 1470, also known as the Accountability in Women-Owned Small Business Contracting Act, aims to increase transparency and accountability in the awarding of federal contracts to women-owned small businesses. The bill requires the Small Business Administration (SBA) to conduct annual reviews of federal agencies' compliance with the Women-Owned Small Business Federal Contract Program.
The bill also requires the SBA to report to Congress on the number of contracts awarded to women-owned small businesses, as well as the amount of money awarded through these contracts. Additionally, the SBA must provide recommendations for improving the program and increasing opportunities for women-owned small businesses to compete for federal contracts.
Overall, the Accountability in Women-Owned Small Business Contracting Act seeks to ensure that women-owned small businesses have equal access to federal contracting opportunities and that federal agencies are held accountable for meeting their contracting goals.