SBA IT Modernization Reporting Act

This bill mandates that the Administrator of the Small Business Administration (SBA), through its Chief Information Officer, implement specific recommendations from a Government Accountability Office (GAO) report titled "IT MODERNIZATION: SBA Urgently Needs to Address Risks on Newly Deployed System." The legislation aims to address identified risks within the SBA's information technology (IT) modernization projects, ensuring greater accountability and security in its systems. Within 180 days of enactment, the Administrator must submit an implementation plan to Congress detailing actions to establish policies and procedures for IT modernization projects. These policies must include explicitly stating risk sources, defining risk parameters, and establishing robust risk management strategies throughout the project lifecycle. Furthermore, the plan requires that IT acquisition and strategic plans incorporate measures to manage cyber risks , involve security subject matter experts in contractor selection, and adhere to GAO guidelines for developing master schedules and cost estimates. The plan must also identify the responsible office and timelines for completion, followed by a briefing to Congress within 30 days of submission.