ADAPT Act

To establish a pilot program to assist in expanding and diversifying the business of small business concerns that rely on amounts awarded for Federal contracts and subcontracts. 1. Short title This Act may be cited as the American Diversification and Progress in Trade Act of 2014 ADAPT Act 2. Definitions In this Act— (1) the terms Administration Administrator (2) the term covered small business concern (3) the term pilot program (4) the terms small business concern small business concern owned and controlled by service-disabled veterans small business concern owned and controlled by women small business development center 15 U.S.C. 632 (5) the term socially and economically disadvantaged small business concern (6) the term women's business center 15 U.S.C. 656 3. Pilot program (a) Establishment Not later than 1 year after the date of enactment of this Act, the Administrator shall establish a pilot program to assist in expanding and diversifying the business of covered small business concerns, particularly in geographic areas, including rural areas, where amounts awarded for Federal contracts and subcontracts are a significant driver of the economy in that area. (b) Requirements In carrying out the pilot program, the Administrator shall— (1) create services and materials that provide best practices, strategies, and other information on expanding and diversifying the customer base of a covered small business concern; (2) make available on a regular basis and throughout the United States the services provided under the American Supplier Initiative of the Administration, including at small business development centers and women's business centers; and (3) create a website for businesses that contract with the Federal Government, including covered small business concerns and medium-sized businesses, to easily access information on expanding and diversifying the customer base of the business. (c) Termination The pilot program shall terminate on the date that is 2 years after the date on which the pilot program is established. (d) Reports (1) Status of pilot program Not later than 18 months after the date on which the Administrator establishes the pilot program, the Administrator shall submit to Congress a report on the status of the pilot program. (2) Administration efforts Not later than 1 year after the date of enactment of this Act, the Administrator shall submit to Congress a report on how the Administration is addressing the need for covered small business concerns to expand and diversify business during periods of decline in amounts appropriated for Federal contracting, including an analysis of how such declines would impact growth among covered small business concerns, particularly covered small business concerns that are small business concerns owned and controlled by service-disabled veterans, small business concerns owned and controlled by women, and socially and economically disadvantaged small business concerns.

Summary: American Diversification and Progress in Trade Act of 2014 or the ADAPT Act - Directs the Administrator of the Small Business Administration (SBA) to establish a pilot program to assist in expanding and diversifying the business of small businesses the majority of whose business consists of amounts awarded under federal contracts and subcontracts, particularly in geographic areas, including rural areas, where amounts awarded for federal contracts and subcontracts are a significant driver of the local economy. Requires the Administrator to report to Congress on how SBA is addressing the need for such small businesses to expand and diversify business during periods of decline in appropriations for federal contracting, including an analysis of how such declines would impact growth among such small businesses, particularly those owned and controlled by service-disabled veterans, women, or socially and economically disadvantaged.