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Small Business Support: Double Credit for Puerto Rico and Territory Contracts

This act extends the period during which contracts made by small businesses with entities in Puerto Rico and other U.S. territories are double-counted for federal support programs. This means these businesses will have a greater chance of securing government contracts, potentially leading to local economic growth and job creation.
Key points
Extends double credit for contracts with businesses in Puerto Rico and U.S. territories.
Increases opportunities for small businesses in these regions to secure federal contracts.
Potential for economic growth and job creation in Puerto Rico and other territories.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_5063
Sponsor: Rep. Velazquez, Nydia M. [D-NY-7]
Process start date: 2023-07-27
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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

Small Business Contracting Credit Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5063.

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 2023-07-27.

What are the main provisions?

Key points include:

  • Extends double credit for contracts with businesses in Puerto Rico and U.S. territories.
  • Increases opportunities for small businesses in these regions to secure federal contracts.
  • Potential for economic growth and job creation in Puerto Rico and other territories.
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. Velazquez, Nydia M. [D-NY-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 2025-12-25.

CATEGORIES

Economy