The WOSB Certification Expansion and Opportunity Act aims to modify how Women-Owned Small Businesses (WOSBs) are counted towards federal contracting goals. Under this bill, only WOSBs that have been formally certified by the Small Business Administration (SBA) or an SBA-approved national certifying entity will be included in calculating government-wide and agency-specific contracting goals. This change explicitly excludes self-certified WOSBs from contributing to these targets, thereby strengthening the verification process for WOSB status. To facilitate a smooth transition, the bill includes a provision allowing certain self-certified WOSBs to be temporarily counted towards goals if they submit an application for formal certification before the new rules take effect. The SBA Administrator is mandated to issue implementing regulations within one year of the bill's enactment, with the amendments becoming effective after the second fiscal year following these regulations. Furthermore, the Administrator must provide quarterly briefings to Congress on the implementation progress, including application statistics, processing timelines, and outreach efforts, without authorizing additional appropriations for these new requirements.
The WOSB Certification Expansion and Opportunity Act aims to modify how Women-Owned Small Businesses (WOSBs) are counted towards federal contracting goals. Under this bill, only WOSBs that have been formally certified by the Small Business Administration (SBA) or an SBA-approved national certifying entity will be included in calculating government-wide and agency-specific contracting goals. This change explicitly excludes self-certified WOSBs from contributing to these targets, thereby strengthening the verification process for WOSB status. To facilitate a smooth transition, the bill includes a provision allowing certain self-certified WOSBs to be temporarily counted towards goals if they submit an application for formal certification before the new rules take effect. The SBA Administrator is mandated to issue implementing regulations within one year of the bill's enactment, with the amendments becoming effective after the second fiscal year following these regulations. Furthermore, the Administrator must provide quarterly briefings to Congress on the implementation progress, including application statistics, processing timelines, and outreach efforts, without authorizing additional appropriations for these new requirements.