SBA Issues Final 8(a) RulesMarch 1, 2011
The U.S. Small Business Administration (SBA) recently published a package of final rules updating and revising its 8(a) Business Development program. The new rules represent the first comprehensive overhaul of the program since June 1998. They become effective March 14, 2011.
The rules are aimed at ensuring that the benefits of the 8(a) program flow to its intended recipients and preventing waste, fraud, and abuse. The rules touch on a variety of areas in the program, including determinations of economic disadvantage, and Joint Ventures and Mentor/Protégé requirements.
The SBA initially published its proposed rule on Oct. 28, 2009, and subsequently embarked on a 10-city “Listening Tour” around the country. In total, the agency received more than 2,500 individual comments about the proposed rule.