Small Business Contracting Transparency Act of 2024

6/11/2024, 4:14 PM
Placed on Senate Legislative Calendar under General Orders. Calendar No. 407.
Bill 118 s 3971, also known as the Small Business Contracting Transparency Act of 2024, aims to increase transparency and accountability in government contracting with small businesses. The bill requires federal agencies to report on the extent to which they are meeting their small business contracting goals, including the percentage of contracts awarded to small businesses and the amount of money spent on these contracts.

Additionally, the bill requires agencies to provide detailed information on the types of small businesses that are receiving contracts, such as women-owned, minority-owned, and veteran-owned businesses. This information will help to ensure that small businesses from all backgrounds have equal access to government contracting opportunities.

Furthermore, the bill includes provisions to improve the accuracy and reliability of data on small business contracting, such as requiring agencies to regularly update their contracting databases and conduct audits to verify the accuracy of the information reported. Overall, the Small Business Contracting Transparency Act of 2024 aims to promote fairness and accountability in government contracting with small businesses, ultimately helping to support and grow the small business sector in the United States.
Congress
118

Number
S - 3971

Introduced on
2024-03-19

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

5/23/2024

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Placed on Senate Legislative Calendar under General Orders. Calendar No. 407.
Bill 118 s 3971, also known as the Small Business Contracting Transparency Act of 2024, aims to increase transparency and accountability in government contracting with small businesses. The bill requires federal agencies to report on the extent to which they are meeting their small business contracting goals, including the percentage of contracts awarded to small businesses and the amount of money spent on these contracts.

Additionally, the bill requires agencies to provide detailed information on the types of small businesses that are receiving contracts, such as women-owned, minority-owned, and veteran-owned businesses. This information will help to ensure that small businesses from all backgrounds have equal access to government contracting opportunities.

Furthermore, the bill includes provisions to improve the accuracy and reliability of data on small business contracting, such as requiring agencies to regularly update their contracting databases and conduct audits to verify the accuracy of the information reported. Overall, the Small Business Contracting Transparency Act of 2024 aims to promote fairness and accountability in government contracting with small businesses, ultimately helping to support and grow the small business sector in the United States.
Alternative Names
Official Title as IntroducedA bill to amend the Small Business Act to require reporting on additional information with respect to small business concerns owned and controlled by women, qualified HUBZone small business concerns, and small business concerns owned and controlled by veterans, and for other purposes.

Policy Areas
Commerce

Comments

Recent Activity

Latest Action5/23/2024
Placed on Senate Legislative Calendar under General Orders. Calendar No. 407.