H.R. 2532 · 110th Congress
Minority-Owned Venture Empowerment Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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MooreSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Minority-Owned Venture Empowerment Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to establish a program, to be known as the Pre-8(a) Program, to provide technical assistance to small businesses with respect to the receipt and performance of federal procurement contracts.
What it does: CRS summary · Introduced in House · May 24, 2007
Minority-Owned Venture Empowerment Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to establish a program, to be known as the Pre-8(a) Program, to provide technical assistance to small businesses with respect to the receipt and performance of federal procurement contracts. Prohibits a participating small business from being awarded a contract under the Program which is awarded using procedures other than competitive procedures under section 8(a) of the Small Business Act (wherein the SBA provides for the performance of federal procurement contracts by small, disadvantaged, and minority-owned businesses). Limits to $750,000 the maximum net worth of a small business Program participant.
Modifies the 8(a) program under the Small Business Act to require small businesses to complete the Pre-8(a) Program before participating in the 8(a) program. Limits to $100 million the aggregate value of contracts an 8(a) participant may enter into. Requires the Administrator, for the 8(a) program, to establish for each industry classification a maximum level of net worth for an economically disadvantaged individual, but prohibits establishing a net worth of less than $750,000. Makes some small businesses eligible for 8(a) participation in a contract using other than competitive procedures (restricted competition), under certain circumstances.
Allows a contracting officer, under specified conditions, to utilize restricted competition in the award of federal procurement contracts for small businesses owned and controlled by socially and economically disadvantaged individuals.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Minority-Owned Venture Empowerment Act of 2007
Latest action (May 24, 2007): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: May 24, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.