H.R. 10622 — PROMISE for Small Businesses Act

This section requires the Administrator of the Small Business Administration to evaluate at least 10 percent of contracts entered into by each federal agency in a fiscal year for compliance with required subcontracting plans under paragraph (4) or (5). It directs the Administrator to ensure that various types of contracts and subcontracting plans are reviewed.

This section requires the Small Business Administration’s annual report to include, for each contract evaluated under the small business subcontracting requirements, a description disaggregated by Federal agency of the extent to which the contractor complied with its subcontracting plan. It also requires reporting on the Administrator’s efforts to address noncompliance, including the number of compliance reviews conducted, and any additional actions taken with respect to such contractors.