(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Unifying Small Business Terminology Act of 2016
(Sec. 2) This bill amends the Small Business Act to revise the range of the anticipated value of federal procurement contracts that must be reserved exclusively for small businesses.
The range shall be between the micro-purchase threshold ($3,000) and the simplified acquisition threshold ($100,000). (Currently the range of the anticipated value must be between $2,500 and $100,000.)