US Congress Senate Bill 1981 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 26 2019 - 25% progression, died in committee
Action: 2019-06-26 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]

Modifies eligibility requirements for Small Business Administration (SBA) contracting opportunities available to a woman- or minority-owned business. Currently, to be eligible for certain SBA programs, a woman or minority business owner must own an unconditional majority (at least 51%) of their business. However, the bill allows a woman- or minority-owned small business to maintain its contracting eligibility in the event a venture capital or private equity firm purchases an ownership stake in the business, so long as the purchasing enterprise is also owned by either a woman or minority.

Women and Minority Equity Investment Act of 2019

Sen. Maria Cantwell [D-WA]

Sen. Marco Rubio [R-FL]

Date	Chamber	Action
2019-06-26	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.

HB3633 (Same As) 2019-07-09 - Referred to the House Committee on Small Business.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/1981/all-info
Text	https://www.congress.gov/116/bills/s1981/BILLS-116s1981is.pdf