Bill > S3971

This bill, the Small Business Innovation and Economic Security Act, aims to strengthen and extend the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which provide funding to small businesses for research and development. Key provisions include enhancing the security review process for SBIR/STTR awards by allowing agencies to evaluate potential security risks, including those related to foreign involvement and listed entities, and to notify businesses of such determinations. It also introduces a "Strategic Breakthrough Funding" initiative to allow for larger, more targeted Phase II awards of up to $30 million for promising technologies, with specific requirements for matching funds and alignment with national security needs. The bill seeks to reduce administrative burdens by allowing agencies to set limits on the number of proposals a small business can submit per fiscal year, with provisions for waivers in specific circumstances. Furthermore, it mandates improved training for contracting officers and the acquisition workforce on Phase III awards, which represent the commercialization of technologies developed through SBIR/STTR, and aims to simplify Phase III award processes. The bill also enhances technical and business assistance for award recipients, including cybersecurity support and participation in programs like I-Corps, and improves data collection and tracking of SBIR/STTR awards within federal procurement systems. Finally, it extends the authorization for the SBIR and STTR programs through September 30, 2031, and allows for the carry-over of certain unspent funds.