,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #aiha  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #bf1 #bjai ,ms4  
,cantwell 7= h]self & ,mr4 ,rubio7      
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on ,small
 ,bus9ess & ,entrepr5eur%ip  ,a ,,bill  
,to modify ! unconditional own]%ip      
requirem5t = wom5-own$ & m9ority-own$   
small bus9ess conc]ns = purposes (      
procurem5t contracts ) ! ,small ,bus9ess
 ,adm9i/ration1 & = o!r purposes4  #a4  
,%ort title  ,?is ,act may be cit$ z !  
,wom5 & ,m9ority ,equity ,inve/m5t ,act 
( #bjai4  #b4 ,modify+ unconditional    
own]%ip requirem5t = wom5-own$ &        
m9ority-own$ small bus9ess conc]ns  7a7 
,9 g5]al ,section #h ( ! ,small ,bus9ess
 ,act 7#ae ,u4,s4,c4 #fcg7 is am5d$--   
7#a7 9 subsection 7a77#d7--  7,a7 9     
subp>agraph 7,a71 9 ! matt] prec$+      
clause 7i71 by /rik+ ,= purposes &      
ins]t+ ,except z provid$ 9 subp>agraph  
7,c71 = purposes2  7,b7 by r$esignat+   
subp>agraph 7,c7 z subp>agraph 7,d72 &  

7,c7 by ins]t+ aft] subp>agraph 7,b7 !  
foll[+3  7,c7 ,= purposes ( det]m9+     
eligibility = an aw>d "u ?is subsection1
 ! t]m socially & economically          
disadvantag$ small conc]n includes any  
small bus9ess conc]n t meets !          
requirem5ts ( subp>agraph 7,b7 &--  7i7 
= :i* less ?an #ea p]c5t is             
unconditionally own$ by #a or m socially
 & economically disadvantag$ individuals
 or by an entity describ$ 9 subclause   
7,,ii7 or 7,,iii7 ( subp>agraph 7,a77i7 
because ! small bus9ess conc]n--  7,i7  
is n m ?an #ej p]c5t own$ & controll$ by
 #a or m equity inve/m5t or v5ture      
capital firms2 or  7,,ii7 is n less ?an 
#ea p]c5t own$ & controll$ by #a or m   
equity inve/m5t or v5ture capital firms 
own$ by #a or m socially disadvantag$   
individuals or by an entity describ$ 9  
subclause 7,,ii7 or 7,,iii7 (           
subp>agraph 7,a77i72 or  7ii7 9 ! case (
 any publicly own$ bus9ess1 = :i* less  
?an #ea p]c5t ( ! /ock is               
unconditionally own$ by #a or m socially

 & economically disadvantag$ individuals
 or by an entity describ$ 9 subclause   
7,,ii7 or 7,,iii7 ( subp>agraph 7,a77ii7
 because ! small bus9ess conc]n--  7,i7 
is n m ?an #ej p]c5t own$ & controll$ by
 #a or m equity inve/m5t or v5ture      
capital firms2 or  7,,ii7 is n less ?an 
#ea p]c5t own$ & controll$ by #a or m   
equity inve/m5t or v5ture capital firms 
own$ by #a or m socially disadvantag$   
individuals or by an entity describ$ 9  
subclause 7,,ii7 or 7,,iii7 (           
subp>agraph 7,a77ii72  2 &  7#b7 9      
subsection 7m77#a71 by /rik+ subp>agraph
 7,b7 & ins]t+ ! foll[+3  7,b7 ,small   
bus9ess conc]n own$ & controll$ by wom5 
7i7 ,9 g5]al ,! t]m small bus9ess conc]n
 own$ & controll$ by wom5-- 7,i7 has !  
mean+ giv5 ! t]m 9 section #c7n72 &     
7,,ii7 includes a small bus9ess conc]n  
describ$ 9 subclause 7,i7 = :i* less ?an
 #ea p]c5t is unconditionally own$ by #a
 or m wom5 because ! small bus9ess      
conc]n--  7aa7 is n m ?an #ej p]c5t own$
 & controll$ by #a or m equity inve/m5t 

or v5ture capital firms2 or  7bb7 is n  
less ?an #ea p]c5t own$ & controll$ by  
#a or m equity inve/m5t or v5ture       
capital firms own$ by wom54  7ii7       
,own]%ip ,= purposes ( clause 7i71      
own]%ip %all be det]m9$ )\t reg>d to any
 community prop]ty law4  4  7b7         
,regulations ,n lat] ?an #a ye> aft] !  
date ( enactm5t ( ?is ,act1 !           
,adm9i/rator ( ! ,small ,bus9ess        
,adm9i/ration %all promulgate           
regulations to am5d p>ts #abd & #abg (  
*apt] ,i ( title #ac1 ,code ( ,f$]al    
,regulations1 to c>ry out ! am5dm5ts    
made by subsection 7a74