S 1981
116th Congress
Senate
Commerce
Administrative law and regulatory procedures
Business investment and capital
Minority and disadvantaged businesses
Public contracts and procurement
Small Business Administration
Small business
Women in business
Women and Minority Equity Investment Act of 2019
Introduced: June 26, 2019
Introduced by:
Cantwell, Maria
Democratic
· Washington
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 26, 2019
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jun 26, 2019
Introduced in Senate
Plain-English summary
Women and Minority Equity Investment Act of 2019
This bill modifies eligibility requirements for Small Business Administration (SBA) contracting opportunities available to a woman- or minority-owned business.
Currently, to be eligible for certain SBA programs, a woman or minority business owner must own an unconditional majority (at least 51%) of their business. However, the bill allows a woman- or minority-owned small business to maintain its contracting eligibility in the event a venture capital or private equity firm purchases an ownership stake in the business, so long as the purchasing enterprise is also owned by either a woman or minority.
What's happening now
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committees of jurisdiction
1