HR 2550 · 113th Congress · Commerce
Minority Small Business Enhancement Act of 2013
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Small Business.(2013-06-27)
Plain Language Summary
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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 p…
Summarized by Claude AI · Non-partisan · For informational purposes only