A bill to amend the Small Business Act to clarify and expand the Capitol Ownership Development Program and for other purposes.

[AI summary unavailable — showing source text] Amends the Small Business Act to provide that a small business shall not be eligible for assistance under the Small Business Administration's (SBA) small business and capital ownership development program or the award of Government procurement contracts under the small business set-aside program unless the Associate Administrator for Minority Small Business and Capital Ownership Development determines that such small business has met not less than 15 percent nor more than 80 percent of specified criteria relating to the competitiveness of such small business. Sets forth: (1) specified criteria and responsibilities for computing the competitiveness of a small business; and (2) circumstances under which such assistance to small businesses or the award of Government procurement contracts shall be denied. Provides that a small business shall be deemed by the SBA to be in the: (1) developmental stage of program participation (with respect to the small business and capital ownership development program) if such small business has met at least 15 percent but less than 70 percent of its criteria of competitiveness; and (2) transitional stage of program participation if such small business …