[Federal Register Volume 88, Number 195 (Wednesday, October 11, 2023)]
[Rules and Regulations]
[Pages 70343-70344]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-22370]


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SMALL BUSINESS ADMINISTRATION

13 CFR Part 125

RIN 3245-AH70


Ownership and Control and Contractual Assistance Requirements for 
the 8(a) Business Development Program; Correction

AGENCY: U.S. Small Business Administration.

ACTION: Correcting amendments.

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SUMMARY: The Small Business Administration (SBA) is correcting a final 
rule that was published in the Federal Register on April 27, 2023. The 
rule implemented several changes to the ownership and control 
requirements for the 8(a) Business Development program, implemented 
changes relating to 8(a) contracts, and implemented a statutory 
amendment in the National Defense Authorization Act (NDAA) for Fiscal 
Year (FY) 2022.

DATES: Effective October 11, 2023.

FOR FURTHER INFORMATION CONTACT: Donna Fudge, U.S. Small Business 
Administration, Office of Policy, Planning, and Liaison, 409 Third 
Street SW, Washington, DC 20416; (202) 205-6363; [email protected]. 
This phone number may also be reached by individuals who are deaf or 
hard of hearing, or who have speech disabilities, through the Federal 
Communications Commission's TTY-Based Telecommunications Relay Service 
teletype service at 711.

SUPPLEMENTARY INFORMATION: On April 27, 2023, SBA amended its 
regulation to implement changes to the ownership and control 
requirements for the 8(a) Business Development program, implement 
changes related to 8(a) contracts, and implement a statutory amendment 
from section 863 of the National Defense Authorization Act (NDAA) for 
Fiscal Year (FY) 2022. This is the second set of corrections. The first 
set of corrections was published in the Federal Register on May 5, 
2023. (88 FR 28985). This document augments those corrections.
    In the final rule at Sec.  125.8(b)(iv), SBA inadvertently omitted 
a regulatory change instruction to clarify language stating how the 
funds remaining in the joint venture bank account at the conclusion of 
the joint venture contract(s) and/or termination of the joint venture 
are to be distributed. This paragraph is revised to state that the 
funds remaining in the joint venture bank account shall be distributed 
at the termination of the joint venture according to the percentage of 
ownership.
    This document also corrects a citation in 13 CFR 125.4(c)(5).

List of Subjects in 13 CFR Part 125

    Government contracts, Government procurement, Reporting and 
recordkeeping requirements, Small businesses, Technical assistance.

PART 125--GOVERNMENT CONTRACTING PROGRAMS

0
1. The authority citation for part 125 continues to read as follows:

    Authority:  15 U.S.C. 632(p), (q), 634(b)(6), 637, 644, 657r and 
657s.


0
2. Amend Sec.  125.4 by revising (c)(5) to read as follows:


Sec.  125.4   What is the Government property sales assistance program?

* * * * *
    (c) * * *
    (5) These provisions are contained in Sec. Sec.  121.501 through 
121.512 of this chapter.

0
3. Amend Sec.  125.8 by revising (b)(2)(iv) to read as follows:


Sec.  125.8   What requirements must a joint venture satisfy to submit 
an offer for a procurement or sale set aside or reserved for small 
business?

* * * * *
    (b) * * *
    (2) * * *
    (iv) Stating that the small business participant(s) must receive 
profits from

[[Page 70344]]

the joint venture commensurate with the work performed by them, or a 
percentage agreed to by the parties to the joint venture whereby the 
small business participant(s) receive profits from the joint venture 
that exceed the percentage commensurate with the work performed by 
them, and that at the termination of a joint venture, any funds 
remaining in the joint venture bank account shall be distributed 
according to the percentage of ownership;
* * * * *

Larry Stubblefield,
Acting Associate Administrator, Government Contracting and Business 
Development.
[FR Doc. 2023-22370 Filed 10-10-23; 8:45 am]
BILLING CODE 8026-09-P