WOSB Accountability Act

Key Points

• This bill changes how the government tracks its goal of giving contracts to women-owned small businesses. Right now, some businesses can just say they are women-owned, but this law would require them to get an official certification from the Small Business Administration.
• The goal is to make sure federal contracts meant for women-owned businesses actually go to the right companies. By ending self-certification, the government wants to stop fraud and make sure their records are accurate.
• Businesses that are already self-certified will have time to adjust. If they apply for the official certification before the new rules start, they can still count toward government goals while they wait for an answer.
• The Small Business Administration must give regular updates to Congress. These reports will show how many businesses are applying, how long the process takes, and what it costs for businesses to get certified.
• The new rules will not start right away. They will take effect two years after the Small Business Administration finishes writing the official instructions for the program.

Impact Analysis

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