H.R. 1816: WOSB Accountability Act

The WOSB Accountability Act aims to change how small businesses owned and controlled by women are certified and included in government contracting goals. Here are the key points of the bill:

Exclusion of Self-Certified WOSBs from Goals

Only small business concerns that are officially certified under a specified section of the Small Business Act will count towards government goals related to women-owned small businesses (WOSBs). Self-certified businesses will not be included in these calculations.

Requirements for Self-Certified WOSBs

The bill establishes a process for those small businesses that are currently self-certified but desire official certification. Specifically:

• A self-certified business that applies for official certification before the law takes effect will be treated as certified during the processing of their application.
• This applies to businesses that were self-certified as of the date the law takes effect and have filed the necessary application for official certification.

Implementation and Reporting

The Small Business Administration (SBA) is required to issue necessary regulations to implement these changes within one year of the law's enactment. Additionally, the SBA must provide quarterly updates to congressional committees about:

• The number of businesses seeking certification as women-owned.
• The number of pending certification applications.
• The total number of applications approved.
• The timelines for application processing.
• The costs incurred in determining applications.
• The SBA's outreach efforts.
• Any recommendations for legislative changes needed to support these requirements.

Definitions

The bill includes definitions for key terms such as:

• Administration: Referring to the Small Business Administration.
• Administrator: The head of the Small Business Administration.
• Small Business Concern: As defined in the Small Business Act.
• Small Business Concern Owned and Controlled by Women: Also defined in the Small Business Act.

Funding Compliance

Lastly, the bill states that no additional funding will be allocated to support the implementation of this Act or its amendments.

Relevant Companies

None found