117 HR 7685 IH: Truth in Small Business Contracting Credit Act of 2022 U.S. House of Representatives 2022-05-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I117th CONGRESS2d SessionH. R. 7685IN THE HOUSE OF REPRESENTATIVESMay 6, 2022Mr. Meuser introduced the following bill; which was referred to the Committee on Small BusinessA BILLTo amend the Small Business Act to limit the ability of a Federal agency to claim credit for meeting goals for contracting with small business concerns, and for other purposes.

1.

Short title

This Act may be cited as the Truth in Small Business Contracting Credit Act of 2022.

2.

Limitation on Federal agency credit for meeting contracting goals

Section 15(g) of the Small Business Act (15 U.S.C. 644(g)) is amended by adding at the end the following new paragraph:(4)

Limitation on credit for meeting contracting goals

(A)

In general

A Federal agency may allocate credit for a single prime contract not more than two times for purposes of demonstrating compliance with the Governmentwide goals established under paragraph (1)(A).(B)

Allocation of credit

The first allocation of credit described in subparagraph (A) shall be applied toward the goal described in paragraph (1)(A)(i). A second allocation of such credit shall be applied as follows:(i)If the prime contract was awarded pursuant to a requirement to set aside such prime contract for a small business concern described in clause (ii), (iii), (iv), or (v) of paragraph (1)(A), the credit shall be applied toward the goal described in the appropriate clause that corresponds with the award.(ii)If the prime contract was not awarded pursuant to a requirement to set aside such prime contract for a small business concern described in clause (ii), (iii), (iv), or (v) of paragraph (1)(A), the credit shall be applied toward any applicable goal described in such paragraph (1)(A).(C)

Credit defined

In this paragraph, the term credit means the value of a prime contract..