Formal Certification Required for Women-Owned Small Business Federal Contracts.
This law mandates formal government certification for women-owned small businesses seeking federal contracts, ending the previous self-certification system. The goal is to increase transparency and ensure contracting goals are met by eligible firms. Federal agencies will also face stricter accountability if they fail to meet their annual contracting targets.
Key points
Formal Certification: Women-owned small businesses must obtain official SBA certification to qualify for federal contracts counted toward agency goals.
Agency Accountability: Federal agencies failing to meet contracting goals for these businesses must report to and testify before Congress explaining their remediation plan.
Transition Period: Businesses currently self-certified have one year to apply for formal certification to maintain their status during the review process.
Status:
Expired
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