Truth in Small Business Contracting Credit Act of 2022
This bill permits a federal agency to credit a single prime contract no more than two times for the purpose of meeting the annual governmentwide goals for procurement contracts awarded to small businesses.
To amend the Small Business Act to limit the ability of a Federal 
  agency to claim credit for meeting goals for contracting with small 
               business concerns, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Truth in Small Business Contracting 
Credit Act of 2022''.

SEC. 2. LIMITATION ON FEDERAL AGENCY CREDIT FOR MEETING CONTRACTING 
              GOALS.

    Section 15(g) of the Small Business Act (15 U.S.C. 644(g)) is 
amended by adding at the end the following new paragraph:
            ``(4) Limitation on credit for meeting contracting goals.--
                    ``(A) In general.--A Federal agency may allocate 
                credit for a single prime contract not more than two 
                times for purposes of demonstrating compliance with the 
                Governmentwide goals established under paragraph 
                (1)(A).
                    ``(B) Allocation of credit.--The first allocation 
                of credit described in subparagraph (A) shall be 
                applied toward the goal described in paragraph 
                (1)(A)(i). A second allocation of such credit shall be 
                applied as follows:
                            ``(i) If the prime contract was awarded 
                        pursuant to a requirement to set aside such 
                        prime contract for a small business concern 
                        described in clause (ii), (iii), (iv), or (v) 
                        of paragraph (1)(A), the credit shall be 
                        applied toward the goal described in the 
                        appropriate clause that corresponds with the 
                        award.
                            ``(ii) If the prime contract was not 
                        awarded pursuant to a requirement to set aside 
                        such prime contract for a small business 
                        concern described in clause (ii), (iii), (iv), 
                        or (v) of paragraph (1)(A), the credit shall be 
                        applied toward any applicable goal described in 
                        such paragraph (1)(A).
                    ``(C) Credit defined.--In this paragraph, the term 
                `credit' means the value of a prime contract.''.
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Truth in Small Business Contracting Credit Act of 2022
To amend the Small Business Act to limit the ability of a Federal agency to claim credit for meeting goals for contracting with small business concerns, and for other purposes.
Truth in Small Business Contracting Credit Act of 2022
Rep. Meuser, Daniel