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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on May 4, 2017.
Assuring Contracting Equity Act of 2017
This bill increases from: (1) 23% to 25% the government-wide small business procurement contract goal, (2) 5% to 10% the government-wide procurement goal for small disadvantaged businesses and women-owned businesses, and (3) 3% to 6% the government-wide procurement goal for service-disabled veteran-owned small businesses and HUBZone (Historically Underutilized Business Zone) small businesses. The number of categories is limited for which a small business may qualify under such goals.
The Small Business Administration (SBA) must include in its annual report to the President and Congress on these goals the percentage of participation by small businesses for the total value of all prime contracts and subcontracts awards for a fiscal year, including the value of each contract awarded.
The SBA must consult with the heads of other federal agencies to develop and implement standards for procurement officers to take into consideration the past compliance of potential contractors with small business subcontracting goals when making contract awards.