H.R.4960 - Rebuild Infrastructure and Support Entrepreneurs Act of 2002107th Congress (2001-2002)
|Sponsor:||Rep. Velazquez, Nydia M. [D-NY-12] (Introduced 06/18/2002)|
|Committees:||House - Small Business; Financial Services|
|Latest Action:||07/05/2002 Referred to the Subcommittee on Domestic Monetary Policy, Technology and Economic Growth, for a period to be subsequently determined by the Chairman. (All Actions)|
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Summary: H.R.4960 — 107th Congress (2001-2002)All Information (Except Text)
Rebuild Infrastructure and Support Entrepreneurs Act of 2002 - Prohibits a Federal agency from providing any New York recovery funds to an entity unless: (1) the entity has submitted a fund use plan to the Administrator of the Small Business Administration that has been approved; (2) the entity agrees to give a ten percent price evaluation adjustment in the competition for any New York recovery contract for small businesses located in the New York City metropolitan area; and (3) the entity agrees to meet specified small business procurement requirements in its contract awards. Includes within such small business procurement requirements the award of: (1) 23 percent of such contracts to New York City small businesses; (2) five percent to New York City small businesses owned and controlled by women; and (3) five percent to New York City small businesses owned by socially and economically disadvantaged individuals. Requires funds recapture if such minimum requirements are not met.
Introduced in House (06/18/2002)
Requires the Administrator to use New York recovery funds to provide grants, loans, and other assistance to small businesses in New York City and allows any other Federal agency to provide additional New York recovery funds to an entity that follows the minimum small business procurement requirements specified above (substituting 25 for 23 percent in the first requirement).