Small Business Innovation and Economic Security Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The Small Business Innovation and Economic Security Act reauthorizes and modifies the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs through 2031. It aims to strengthen the security review process for awards, requiring federal agencies to assess potential security risks posed by small businesses applying for funding. The bill also introduces strategic breakthrough allocations for critical technology areas, expands training for contracting officers, and includes provisions to streamline administrative processes and improve data collection related to these programs.
Key provisions
- Requires federal agencies to evaluate the security risks of small businesses applying for SBIR and STTR awards.
- Establishes a maximum number of proposals small businesses can submit per year for Phase I and Phase II solicitations.
- Expands training requirements for agencies’ contracting officers and acquisition workforce regarding Phase III awards.
- Creates strategic breakthrough allocations for critical technology areas, providing additional funding for promising small businesses.
- Mandates a process for providing small businesses with a rationale if their application is denied for security reasons.
- Updates the due diligence process for assessing cybersecurity practices and foreign ownership of small businesses.
- Extends the authorization period for the SBIR and STTR programs through September 30, 2031.
- Simplifies administrative procedures and improves data collection related to the SBIR and STTR programs.
Bill text
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