The House on Thursday approved a bill that would reauthorize the Small Business Innovation Research and Small Business Technology Transfer programs through fiscal year 2025.
The lower chamber passed the SBIR and STTR Extension Act of 2022 a week after the Senate approved the measure.
SBIR “is known for its tagline of ‘America’s seed fund’ as it inspires small businesses across the country to transform their ideas into marketable products and services,” Rep. Haley Stevens, D-Mich., said in a statement published Thursday.
“Today, I am proud to have voted to extend the SBIR and STTR to add much-needed stability to the program,” added Stevens, chairwoman of the House Science, Space and Technology’s research and technology subcommittee.
The bill would direct agencies with SBIR or STTR programs to review the security risks associated with applications with financial links to some foreign entities and require the departments of Defense, Energy, National Science Foundation and other federal agencies to evaluate the research, integrity and national security risks of the two small business programs.
Under the legislation, the Government Accountability Office to assess and report on subcontracting practices of program recipients.