The bill would bar executive agencies from awarding contracts, grants, or cooperative agreements to a company with a covered beneficial owner who was a special Government employee on or after January 1, 2025. It would also bar related payments. A covered owner must hold at least 5% of the company’s equity. The bar would not apply if the owner immediately leaves the special Government employee role and does not hold that role at any time during the 365 days after the bill is enacted.
Companies with an owner who meets these conditions could be unable to receive covered federal awards or related payments. The text does not describe effects on individuals or businesses outside this rule.
The bill does not specify costs, funding, or an estimate of federal expenses.
No publicly available information.
No publicly available information.