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S. 3971, Small Business Contracting Transparency Act of 2024 (CBO Report for Congress)

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Congress 118th
Date Requested May 23, 2024
Requested By the Senate Committee on Small Business and Entrepreneurship
Date Sent June 27, 2024
Description:
S. 3971 would require the Small Business Administration (SBA) to publish annual reports on women-owned businesses, small businesses located in high-unemployment and low-income areas (also known as HUBZones), and service-disabled veteran small businesses. Because the SBA collects most of the information required for the reports, CBO estimates the agency would need the equivalent of one full-time employee, at an average annual cost of $170,000, to compile the information and report to the Congress each year. In total, CBO estimates that implementing S. 3971 would cost $1 million over the 2024-2029 period. Any related spending would be subject to the availability of appropriated funds. 

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