Summary: H.R.3633 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.3633. Bill summaries are authored by CRS.

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Introduced in House (07/09/2019)

Women and Minority Equity Investment Act of 2019

This bill 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.