Bill > HR5178

This bill, the Puerto Rico Small Business Contracting Assistance Act of 2018, aims to support small businesses located in Puerto Rico. The key provisions include: 1. Defining "Puerto Rico business" as a small business concern with its principal office in Puerto Rico. 2. Providing a credit towards meeting federal contracting goals for agencies that award contracts to Puerto Rico businesses during the first 4 years after the bill's enactment. 3. Allowing the Small Business Administration (SBA) to transfer technology or surplus property to Puerto Rico businesses, even if they are not participants in the SBA's 8(a) Business Development Program. 4. Identifying potential incentives for "covered mentors" (mentors in an SBA-approved mentor-protege program) that award subcontracts to their "covered proteges" (Puerto Rico businesses). 5. Exempting Puerto Rico businesses from the normal restrictions on the number of mentor-protege relationships a firm can have. The overall goal is to provide various forms of assistance and contracting preferences to help small businesses in Puerto Rico, which has faced significant economic challenges in recent years.

Business and Industry

https://www.congress.gov/bill/115th-congress/house-bill/5178/all-info