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Defense Contractors Get 5% Bonus for Subcontracting with Pacific Island Businesses.

This bill creates a new financial incentive program for large defense contractors. Prime contractors will receive an additional payment equal to 5% of the value of subcontracts they award to small businesses located in specific Pacific Insular Areas (Guam, American Samoa, Northern Mariana Islands). The goal is to boost economic activity and job creation in these US territories using defense spending.
Key points
Provides a 5% bonus payment to prime defense contractors who hire small businesses in Guam, American Samoa, and the Northern Mariana Islands.
The small businesses must meet specific criteria regarding ownership (US citizens) and local employee residency (at least 50%).
The measure aims to increase economic opportunities for small businesses in these US territories by directing defense contract funds locally.
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Citizen Poll
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Additional Information
Print number: 118_HR_9453
Sponsor: Del. Sablan, Gregorio Kilili Camacho [D-MP-At Large]
Process start date: 2024-09-03