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Small Business Innovation and Economic Security Act

Hozzl · 2026-03-19T03:23:25Z

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

3/19/2026, 3:23 AM

Summary of Bill S 3971

The Small Business Innovation and Economic Security Act, introduced in the 119th Congress on March 3, 2026, aims to enhance economic security and innovation within small businesses. The bill does not provide specific provisions or directives in the provided context, but its title suggests a focus on fostering innovation and economic stability in the small business sector. For more details and the full text of the bill, the official PDF version can be accessed at https://www.congress.gov/119/bills/s3971/BILLS-119s3971es.pdf.

Congressional Summary of S 3971

Small Business Innovation and Economic Security Act

This bill reauthorizes through FY2031 and modifies the Small Business Innovation Research (SBIR) program, the Small Business Technology Transfer (STTR) program, and related pilot programs. (The SBIR and STTR programs are administered by various federal agencies and provide competitive awards for domestic small businesses to conduct research and development projects that have the potential for commercialization.)

Specifically, the bill expands the requirements for federal agencies administering these programs to evaluate the security risks of the small businesses that apply for awards under the programs. If an agency denies an application for security reasons, the agency must provide the small business with the basis for such determination.

Further, each agency must set a maximum number of proposals per fiscal year that a small business concern may submit in response to Phase I and Phase II solicitations.

The bill expands the training requirements for agencies' contracting officers and acquisition workforce with respect to Phase III (commercialization of technologies) awards under the SBIR and STTR programs.

The bill also establishes strategic breakthrough allocations for critical technology areas. These are additional Phase II SBIR and STTR awards to small businesses that demonstrate an effective technology and receive matching funds.

Read the Full Bill

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Current Status of Bill S 3971

Bill S 3971 is currently in the status of Passed in House since March 17, 2026. Bill S 3971 was introduced during Congress 119 and was introduced to the Senate on March 3, 2026. Bill S 3971's most recent activity was Motion to reconsider laid on the table Agreed to without objection. as of March 17, 2026

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

Potential Impact Areas

- Advanced technology and technological innovations

- Asia

- China

- Computer security and identity theft

- Computers and information technology

- Government lending and loan guarantees

- Intellectual property

- Military assistance, sales, and agreements

- Performance measurement

- Public contracts and procurement

- Research administration and funding

- Research and development

- Small Business Administration

- Small business

- Subversive activities

- Technology assessment

- Technology transfer and commercialization

Alternate Title(s) of Bill S 3971

Small Business Innovation and Economic Security Act

A bill to extend the SBIR and STTR programs, and for other purposes.

Comments

Dorothy Coates

682

14 days ago

I don't know much about this new bill, but it sounds like it could really help small businesses in our country. I'm all for anything that boosts innovation and economic security, especially in these uncertain times. It's about time our government started focusing on the little guys instead of just big corporations. I can't wait to see how this will benefit me and my community. #SmallBusinessWinners

Makenzie Pugh

756

8 days ago

This bill gonna hurt small businesses like mine, can't afford all these new regulations.

Jayceon Bailey

622

8 days ago

I don't really understand this new bill and how it will impact small businesses like mine. Will it really help us innovate and grow, or will it just create more red tape and bureaucracy? What are the long term effects of this bill on small businesses?