H.R. 3633 · 116th Congress
Women and Minority Equity Investment Act of 2019
- Stage
- In committee
- Sponsor
- Robin Kelly
- Introduced
- 2019-07-09
- Latest action
- 2019-07-09 · Introduced in House
Summary
Women and Minority Equity Investment Act of 2019
This bill modifies eligibility requirements for Small Business Administration (SBA) contracting opportunities available to a woman- or minority-owned business.
Currently, to be eligible for certain SBA programs, a woman or minority business owner must own an unconditional majority (at least 51%) of their business. However, the bill allows a woman- or minority-owned small business to maintain its contracting eligibility in the event a venture capital or private equity firm purchases an ownership stake in the business, so long as the purchasing enterprise is also owned by either a woman or minority.