Small Business Fair Competition Act

Small Business Fair Competition Act - Allows an incumbent contractor to recompete for a proposed contract in the case of a government solicitation for bids or proposals for goods or services that are substantially the same as under a current contract, provided the contractor currently performing the contract represents in good faith that it is a small business.

Permits such representation to be made if the incumbent contractor: (1) meets the definition of a small business concern applicable to the solicitation and has not been determined by the Small Business Administration (SBA) to be other than a small business; or (2) was a small business when the current contract was awarded, is no longer a small business at the time of the solicitation, and will revert to being a small business if not awarded the proposed contract.

Allows the government to qualify a contract being awarded to the incumbent contractor as a small business set-aside for the duration of the contract.

Requires the Federal Acquisition Regulation to be revised to implement this Act.