The SBA has issued new proposed rules relating to the 8(a) Program. The rules clarify some aspects of ownership and control requirements for the 8(a) Program, including making change of ownership a little easier and cleaning up some 8(a) set-aside processes. The rule would also allow for populated joint ventures between similarly situated joint venture members.
Here are some of the key changes from the proposed regulation. This doesn’t cover everything, so please review the regulations closely if you are in the 8(a) Program. There are a number of tweaks throughout the regulations. Comments are due November 8, 2022.
8(a) Ownership
Under the proposed changed, SBA includes “a process for allowing a change of ownership for a former Participant.” The current rule provides that “any Participant that was awarded one or more 8(a) contracts may substitute one disadvantaged individual for another disadvantaged individual without requiring the termination of those contracts or a request for waiver under § 124.515.” … Read the full article here.
