Congress Proposes to Extend 8(a) Terms by One Year

Huge potential news for 8(a) companies - the House and Senate have agreed to extend the term of 8(a) companies from nine years to ten years for any company that was an 8(a) participant by September 9th of this year.

The 2021 National Defense Authorization Act (which has not been signed into law yet) would require the SBA to allow a one-year extension for companies that were in the 8(a) program as of September 9th, 2020.  Additionally, companies would be eligible for the extension even if the company elected to suspend participation in the program.

Watch the 2021 National Defense Authorization Act very carefully over the next month as it could have a huge impact on your 8(a) term.