FAR Council Proposed Rule Would Implement SBA Mentor-Protégé Incentives for Puerto Rico, U.S. Virgin Islands, and Other U.S. Territories

Greenberg Traurig – A rule proposed by the FAR Council in June 2024 would (1) provide contracting incentives to mentors that subcontract to protégé firms located in Puerto Rico or other covered territories; (2) confirm that contractors may rely on a subcontractor’s self-certification; and (3) specify that subcontracting plans are not required from entities that are treated as small business concerns by the statute, such as Alaska Native Corporations.