,,ii #aafth ,,congress #ast ,session ,s4 #aiha ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #bf1 #bjai ,ms4 ,cantwell 7for herself and ,mr4 ,rubio7 introduced the following bill2 which was read twice and referred to the ,committee on ,small ,business and ,entrepreneurship ,a ,,bill ,to modify the unconditional ownership requirement for women-owned and minority-owned small business concerns for purposes of procurement contracts with the ,small ,business ,administration1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,women and ,minority ,equity ,investment ,act of #bjai4 #b4 ,modifying unconditional ownership requirement for women-owned and minority-owned small business concerns 7a7 ,in general ,section #h of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcg7 is amended-- 7#a7 in subsection 7a77#d7-- 7,a7 in subparagraph 7,a71 in the matter preceding clause 7i71 by striking ,for purposes and inserting ,except as provided in subparagraph 7,c71 for purposes2 7,b7 by redesignating subparagraph 7,c7 as subparagraph 7,d72 and 7,c7 by inserting after subparagraph 7,b7 the following3 7,c7 ,for purposes of determining eligibility for an award under this subsection1 the term socially and economically disadvantaged small concern includes any small business concern that meets the requirements of subparagraph 7,b7 and-- 7i7 for which less than #ea percent is unconditionally owned by #a or more socially and economically disadvantaged individuals or by an entity described in subclause 7,,ii7 or 7,,iii7 of subparagraph 7,a77i7 because the small business concern-- 7,i7 is not more than #ej percent owned and controlled by #a or more equity investment or venture capital firms2 or 7,,ii7 is not less than #ea percent owned and controlled by #a or more equity investment or venture capital firms owned by #a or more socially disadvantaged individuals or by an entity described in subclause 7,,ii7 or 7,,iii7 of subparagraph 7,a77i72 or 7ii7 in the case of any publicly owned business1 for which less than #ea percent of the stock is unconditionally owned by #a or more socially and economically disadvantaged individuals or by an entity described in subclause 7,,ii7 or 7,,iii7 of subparagraph 7,a77ii7 because the small business concern-- 7,i7 is not more than #ej percent owned and controlled by #a or more equity investment or venture capital firms2 or 7,,ii7 is not less than #ea percent owned and controlled by #a or more equity investment or venture capital firms owned by #a or more socially disadvantaged individuals or by an entity described in subclause 7,,ii7 or 7,,iii7 of subparagraph 7,a77ii72 2 and 7#b7 in subsection 7m77#a71 by striking subparagraph 7,b7 and inserting the following3 7,b7 ,small business concern owned and controlled by women 7i7 ,in general ,the term small business concern owned and controlled by women-- 7,i7 has the meaning given the term in section #c7n72 and 7,,ii7 includes a small business concern described in subclause 7,i7 for which less than #ea percent is unconditionally owned by #a or more women because the small business concern-- 7aa7 is not more than #ej percent owned and controlled by #a or more equity investment or venture capital firms2 or 7bb7 is not less than #ea percent owned and controlled by #a or more equity investment or venture capital firms owned by women4 7ii7 ,ownership ,for purposes of clause 7i71 ownership shall be determined without regard to any community property law4 4 7b7 ,regulations ,not later than #a year after the date of enactment of this ,act1 the ,administrator of the ,small ,business ,administration shall promulgate regulations to amend parts #abd and #abg of chapter ,i of title #ac1 ,code of ,federal ,regulations1 to carry out the amendments made by subsection 7a74