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House Bill 7685
117th Congress(2021-2022)
Truth in Small Business Contracting Credit Act of 2022
Introduced
Introduced
Introduced in House on May 6, 2022
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Introduced in House 
May 6, 2022
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Introduced in House(May 6, 2022)
May 6, 2022
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H. R. 7685 (Introduced-in-House)


117th CONGRESS
2d Session
H. R. 7685


To amend the Small Business Act to limit the ability of a Federal agency to claim credit for meeting goals for contracting with small business concerns, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 6, 2022

Mr. Meuser introduced the following bill; which was referred to the Committee on Small Business

A BILL

To amend the Small Business Act to limit the ability of a Federal agency to claim credit for meeting goals for contracting with small business concerns, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Truth in Small Business Contracting Credit Act of 2022”.

SEC. 2. Limitation on Federal agency credit for meeting contracting goals.

Section 15(g) of the Small Business Act (15 U.S.C. 644(g)) is amended by adding at the end the following new paragraph:

“(4) LIMITATION ON CREDIT FOR MEETING CONTRACTING GOALS.—

“(A) IN GENERAL.—A Federal agency may allocate credit for a single prime contract not more than two times for purposes of demonstrating compliance with the Governmentwide goals established under paragraph (1)(A).

“(B) ALLOCATION OF CREDIT.—The first allocation of credit described in subparagraph (A) shall be applied toward the goal described in paragraph (1)(A)(i). A second allocation of such credit shall be applied as follows:

“(i) If the prime contract was awarded pursuant to a requirement to set aside such prime contract for a small business concern described in clause (ii), (iii), (iv), or (v) of paragraph (1)(A), the credit shall be applied toward the goal described in the appropriate clause that corresponds with the award.

“(ii) If the prime contract was not awarded pursuant to a requirement to set aside such prime contract for a small business concern described in clause (ii), (iii), (iv), or (v) of paragraph (1)(A), the credit shall be applied toward any applicable goal described in such paragraph (1)(A).

“(C) CREDIT DEFINED.—In this paragraph, the term ‘credit’ means the value of a prime contract.”.