H.R. 2568 would amend the Small Business Act to ensure fairness and transparency in contracting with small business concerns.
Detailed Summary
Fairness and Transparency in Contracting Act of 2009 - Amends the Small Business Act to exclude as a small business, for purposes of meeting federal agency contracting goals with small businesses, any small business (or subsidiary thereof) that is publicly traded, or any business (or subsidiary thereof) with more than 50% non-U.S. citizen ownership. Requires the Administrator of the Small Business Administration (SBA) to notify the head of each federal department or agency regarding this Act and its amendments, and the department or agency head to then notify its contractors.
Directs the Administrator to: (1) publish a report regarding federal prime contracts awarded to businesses identified as small businesses for purposes of achieving small business contracting goals; and (2) establish procedures to ensure that the Central Contractor Registration database provides an adequate warning regarding criminal penalties for misrepresenting the status of a small business or person in order to obtain federal contracts.
Provides for enforcement of complaints about the classification of a business for such purposes.
Status of the Legislation
Latest Major Action: 5/21/2009: Referred to House committee. Status: Referred to the Committee on Small Business, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Points in Favor
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Points Against
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Visitor Comments
Lloyd Chapman
May 23, 2009, 4:00am (report abuse)Since 2003 there have been over a dozen federal investigations that found billions in federal small business contracts were diverted to Fortune 500 firms. H.R. 2568 will finally bring an end to these rampant abuses. This bill will redirect over $100 billion a year in federal small business contracts back to the middle class firms that create over 97% of all new jobs. It will stimulate the economy and create and save millions of jobs.