S. 3971, Small Business Contracting Transparency Act of 2024
As reported by the Senate Committee on Small Business and Entrepreneurship on May 23, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
0
0
0
Revenues
0
0
0
Increase or Decrease (-) in the Deficit
0
0
0
Spending Subject to Appropriation (Outlays)
*
1
not estimated
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
No
Statutory pay-as-you-go procedures apply?
No
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
* = between zero and $500,000.
Summary
S. 3971 would require the Small Business Administration (SBA) to publish annual reports on women-owned businesses, small businesses located in high-unemployment and low-income areas (also known as HUBZones), and service-disabled veteran small businesses.
Because the SBA collects most of the information required for the reports, CBO estimates the agency would need the equivalent of one full-time employee, at an average annual cost of $170,000, to compile the information and report to the Congress each year. In total, CBO estimates that implementing S. 3971 would cost $1 million over the 2024-2029 period. Any related spending would be subject to the availability of appropriated funds.
