Bill > HR5929

This bill, the United States Virgin Islands Small Business Contracting Assistance Act of 2018, aims to provide support for small business concerns located in the United States Virgin Islands. The key provisions of the bill include: 1. Defining a "United States Virgin Islands business" as a small business concern with its principal office located in the U.S. Virgin Islands. 2. Providing a credit for federal agencies when they award contracts to U.S. Virgin Islands businesses during the 4-year period after the bill's enactment, which will count double towards their contracting goals. 3. Allowing the Small Business Administration to transfer technology or surplus property to U.S. Virgin Islands businesses, even if they are not participants in the SBA's programs, for a 3-year period. 4. Identifying potential incentives for "covered mentors" (mentors in SBA's mentor-protege program) to subcontract with their "covered proteges" (U.S. Virgin Islands businesses) during a 3-year period. 5. Allowing covered mentors and covered proteges to have up to 2 additional mentor-protege relationships, for a 3-year period, even if they would normally be restricted. The overall goal of the bill is to provide contracting assistance and support for small businesses located in the U.S. Virgin Islands.

Business and Industry

https://www.congress.gov/bill/115th-congress/house-bill/5929/all-info