Small Business Emergency Relief Act

Small Business Emergency Relief Act - Declares it to be the policy of Congress to provide relief to small business concerns which have fixed-price Government contracts where such concerns encounter performance difficulties because of the energy crisis or rapid and unexpected escalations of contract costs.

Provides that pursuant to an application by a small business concern the head of any executive agency may terminate for the convenience of the Government any fixed- price contract between that agency and such small business concern upon a finding that specified cost difficulties are shown. Requires enumerated pieces of documentation to support any such request for relief by a small business concern, including a history of performance under the contract, statements of costs and profits, and balance sheets.