This legislation significantly alters how women-owned small businesses (WOSBs) qualify for federal contracting goals by mandating that only WOSBs formally certified by the Administrator or an approved national certifying entity will be included. This change explicitly excludes self-certified WOSBs from counting towards government-wide and agency-specific contracting goals. To facilitate the transition, the bill provides a temporary inclusion for certain self-certified WOSBs: those that were self-certified when the new rules take effect and have submitted a certification application will be deemed certified until a formal determination is made. The Administrator of the Small Business Administration must issue implementing regulations within one year of enactment, with the new counting rules taking effect after the second fiscal year following these regulations. Additionally, the Act requires the Administrator to provide quarterly briefings to Congressional committees, detailing implementation progress, application numbers, processing timelines, and outreach efforts. These briefings will also include recommendations for legislative authority or resources needed to fully implement the Act, which explicitly states no additional funds are authorized for its requirements.