The bill would require the SBA to update regulations within one year to direct federal agencies to exclude women-owned small businesses that self-certify from counting toward WOSB contracting goals in data they send to the SBA. Federal agencies would have an additional two years to implement the new regulations. The bill also would require the SBA to prepare quarterly reports on statistics about WOSBs seeking certification until the new regulations are in place.
Based on the costs of similar activities, CBO estimates that implementing the bill would cost less than $500,000.
