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Support for Small Businesses: New Benefits and Contracting Preferences

This act aims to support newly established small businesses by introducing special preferences in government contracts and waiving fees for certain loans. This will give smaller enterprises a better chance to secure government contracts and easier access to financing, potentially leading to job creation and local economic growth.
Key points
New businesses meeting specific criteria (e.g., number of employees, age of business, salary levels) can be designated as 'emerging business enterprises'.
Federal agencies will be required to aim for at least 3% of their prime contracts and subcontracts to go to these emerging businesses.
These businesses may be exempt from certain fees associated with government-guaranteed loans, making capital more accessible.
Online training on federal procurement will be provided free of charge for owners of these businesses.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_9649
Sponsor: Rep. Carson, Andre [D-IN-7]
Process start date: 2022-12-21
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Emerging Business Encouragement Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9649.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-21.

What are the main provisions?

Key points include:

  • New businesses meeting specific criteria (e.g., number of employees, age of business, salary levels) can be designated as 'emerging business enterprises'.
  • Federal agencies will be required to aim for at least 3% of their prime contracts and subcontracts to go to these emerging businesses.
  • These businesses may be exempt from certain fees associated with government-guaranteed loans, making capital more accessible.
  • Online training on federal procurement will be provided free of charge for owners of these businesses.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Carson, Andre [D-IN-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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Economy Public Investments