Small Business Contracting Transparency Act of 2024

Hozzl · 2024-06-11T16:14:34Z

Explore the details of Senate Bill 3971 Small Business Contracting Transparency Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

6/11/2024, 4:14 PM

Summary of Bill S 3971

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.

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Current Status of Bill S 3971

Bill S 3971 is currently in the status of Bill Introduced since March 19, 2024. Bill S 3971 was introduced during Congress 118 and was introduced to the Senate on March 19, 2024. Bill S 3971's most recent activity was Placed on Senate Legislative Calendar under General Orders. Calendar No. 407. as of May 23, 2024

Bipartisan Support of Bill S 3971

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3971

Primary Policy Focus

Commerce

Alternate Title(s) of Bill S 3971

Small Business Contracting Transparency Act of 2024

A 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.