SBA revises ownership requirements for SBIR Program awardees.
The SBA issued a final rule that revises its small business size regulations regarding ownership and control of Small Business Innovation Research (SBIR) Program awardees, affecting the requisite ownership percentages and the citizenship status of the owners or owning corporation. The final rule allows SBIR eligibility for either "[a] for-profit business concern ... that is at least 51 percent owned and controlled by one or more individuals who are citizens of the United States, or permanent resident aliens in the United States" or "[a] forprofit business concern ... that is at least 51-percent owned and controlled by another for-profit business concern ... that is itself at least 51-percent owned and controlled by individuals who are citizens of, or permanent resident aliens in, the United States." The final rule also changes the timeframe of eligibility. An SBIR awardee need not meet the eligibility requirements when it submits its proposal; instead, the awardee must be eligible at the time of the award. This rule became effective on January 3, 2005. (69 Fed. Reg. 70180, 12/3/2004)
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|Title Annotation:||Regulations; Small Business Administration|
|Article Type:||Brief Article|
|Date:||Feb 1, 2005|
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