S. 3971, Small Business Contracting Transparency Act of 2024

S. 3971 would require the Small Business Administration (SBA) to publish annual reports on women-owned businesses, small businesses located in high-unemployment and low-income areas (also known as HUBZones), and service-disabled veteran small businesses.

Because the SBA collects most of the information required for the reports, CBO estimates the agency would need the equivalent of one full-time employee, at an average annual cost of $170,000, to compile the information and report to the Congress each year. In total, CBO estimates that implementing S. 3971 would cost $1 million over the 2024-2029 period. Any related spending would be subject to the availability of appropriated funds.