Small Disadvantaged Business Fair Share Act

Small Disadvantaged Business Fair Share Act - Directs the Secretary of Defense (the Secretary), acting through the Defense Contract Administration Services, to increase outreach to small disadvantaged businesses (SDBs) that are potential contractors or subcontractors with the Department of Defense. Prohibits the Secretary from entering into a contract with a contractor unless the contractor includes a plan to spend at least ten percent of the contract on subcontracting with SDBs.

Amends the National Defense Authorization Act for Fiscal Year 1987 to increase from five to ten percent the goal set for subcontract awards to historically Black colleges and universities, small businesses, minority-owned media, and minority institutions.

Revises the requirement that at least 50 percent of the contract awarded to an SDB be performed by the awardee. Permits at least 75 percent of such a contract to be performed by the awardee or other SDBs.

Specifies circumstances for waiver of the rule that prohibits an SDB contractor from participating in an SDB contract when the product involved is not SDB-manufactured.

Directs the Secretary to ensure that the number or dollar value of contracts awarded under the SDB or related set-aside programs be maintained or increased.

Requires, as a condition of approval of a contract with the Department of Defense, that the contract bid must be accompanied by documentation certifying that the potential contractor is in compliance with the equal opportunity provisions of specified Federal regulations.

Requires periodic certification updates.

Directs the Secretary to promulgate regulations to administer this Act by a certain deadline.