Rule2023-22370
Ownership and Control and Contractual Assistance Requirements for the 8(a) Business Development Program; Correction
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 11, 2023
Effective
October 11, 2023
Issuing agencies
Small Business Administration
Abstract
The Small Business Administration (SBA) is correcting a final rule that was published in the Federal Register on April 27, 2023. The rule implemented several changes to the ownership and control requirements for the 8(a) Business Development program, implemented changes relating to 8(a) contracts, and implemented a statutory amendment in the National Defense Authorization Act (NDAA) for Fiscal Year (FY) 2022.
Full Text
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<title>Federal Register, Volume 88 Issue 195 (Wednesday, October 11, 2023)</title>
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[Federal Register Volume 88, Number 195 (Wednesday, October 11, 2023)]
[Rules and Regulations]
[Pages 70343-70344]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-22370]
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SMALL BUSINESS ADMINISTRATION
13 CFR Part 125
RIN 3245-AH70
Ownership and Control and Contractual Assistance Requirements for
the 8(a) Business Development Program; Correction
AGENCY: U.S. Small Business Administration.
ACTION: Correcting amendments.
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SUMMARY: The Small Business Administration (SBA) is correcting a final
rule that was published in the Federal Register on April 27, 2023. The
rule implemented several changes to the ownership and control
requirements for the 8(a) Business Development program, implemented
changes relating to 8(a) contracts, and implemented a statutory
amendment in the National Defense Authorization Act (NDAA) for Fiscal
Year (FY) 2022.
DATES: Effective October 11, 2023.
FOR FURTHER INFORMATION CONTACT: Donna Fudge, U.S. Small Business
Administration, Office of Policy, Planning, and Liaison, 409 Third
Street SW, Washington, DC 20416; (202) 205-6363; <a href="/cdn-cgi/l/email-protection#195d76777778377f6c7d7e7c596a7b78377e766f"><span class="__cf_email__" data-cfemail="ebaf8485858ac58d9e8f8c8eab98898ac58c849d">[email protected]</span></a>.
This phone number may also be reached by individuals who are deaf or
hard of hearing, or who have speech disabilities, through the Federal
Communications Commission's TTY-Based Telecommunications Relay Service
teletype service at 711.
SUPPLEMENTARY INFORMATION: On April 27, 2023, SBA amended its
regulation to implement changes to the ownership and control
requirements for the 8(a) Business Development program, implement
changes related to 8(a) contracts, and implement a statutory amendment
from section 863 of the National Defense Authorization Act (NDAA) for
Fiscal Year (FY) 2022. This is the second set of corrections. The first
set of corrections was published in the Federal Register on May 5,
2023. (88 FR 28985). This document augments those corrections.
In the final rule at Sec. 125.8(b)(iv), SBA inadvertently omitted
a regulatory change instruction to clarify language stating how the
funds remaining in the joint venture bank account at the conclusion of
the joint venture contract(s) and/or termination of the joint venture
are to be distributed. This paragraph is revised to state that the
funds remaining in the joint venture bank account shall be distributed
at the termination of the joint venture according to the percentage of
ownership.
This document also corrects a citation in 13 CFR 125.4(c)(5).
List of Subjects in 13 CFR Part 125
Government contracts, Government procurement, Reporting and
recordkeeping requirements, Small businesses, Technical assistance.
PART 125--GOVERNMENT CONTRACTING PROGRAMS
0
1. The authority citation for part 125 continues to read as follows:
Authority: 15 U.S.C. 632(p), (q), 634(b)(6), 637, 644, 657r and
657s.
0
2. Amend Sec. 125.4 by revising (c)(5) to read as follows:
Sec. 125.4 What is the Government property sales assistance program?
* * * * *
(c) * * *
(5) These provisions are contained in Sec. Sec. 121.501 through
121.512 of this chapter.
0
3. Amend Sec. 125.8 by revising (b)(2)(iv) to read as follows:
Sec. 125.8 What requirements must a joint venture satisfy to submit
an offer for a procurement or sale set aside or reserved for small
business?
* * * * *
(b) * * *
(2) * * *
(iv) Stating that the small business participant(s) must receive
profits from
[[Page 70344]]
the joint venture commensurate with the work performed by them, or a
percentage agreed to by the parties to the joint venture whereby the
small business participant(s) receive profits from the joint venture
that exceed the percentage commensurate with the work performed by
them, and that at the termination of a joint venture, any funds
remaining in the joint venture bank account shall be distributed
according to the percentage of ownership;
* * * * *
Larry Stubblefield,
Acting Associate Administrator, Government Contracting and Business
Development.
[FR Doc. 2023-22370 Filed 10-10-23; 8:45 am]
BILLING CODE 8026-09-P
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