H.R. 4671 amends the Small Business Act to require federal agencies to provide more detailed information in their annual reports on small business procurement goals. Agencies would need to report specific data points, including the percentage and total dollar value of contracts awarded to different categories of small businesses, the number of small businesses that received contracts, and how many of those were first-time recipients. The bill also requires agencies to describe what actions they took to implement previously proposed practices for meeting procurement goals and to assess how effective those practices were, and it directs the Small Business Administration to compile a list of best practices identified across agencies. This measure primarily affects federal agencies that award procurement contracts and small businesses seeking government contracts, aiming to improve transparency and accountability in how well agencies are meeting small business contracting goals. The bill does not authorize any new funding, specifying that its provisions will be carried out using existing appropriations to the Small Business Administration.
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