H.R.3633 - Women and Minority Equity Investment Act of 2019116th Congress (2019-2020)
|Sponsor:||Rep. Kelly, Robin L. [D-IL-2] (Introduced 07/09/2019)|
|Committees:||House - Small Business|
|Latest Action:||House - 07/09/2019 Referred to the House Committee on Small Business. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3633 — 116th Congress (2019-2020)All Information (Except Text)
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.