A bill to modify the unconditional ownership requirement for women-owned and minority-owned small business concerns for purposes of procurement contracts with the Small Business Administration, and for other purposes.
Women and Minority Equity Investment Act of 2019
This bill modifies eligibility requirements for Small Business Administration (SBA) contracting opportunities available to a woman- or minority-owned business.
Currently, to be eligible for certain SBA programs, a woman or minority business owner must own an unconditional majority (at least 51%) of their business. However, the bill allows a woman- or minority-owned small business to maintain its contracting eligibility in the event a venture capital or private equity firm purchases an ownership stake in the business, so long as the purchasing enterprise is also owned by either a woman or minority.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
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