Blog

Today, the U.S. Small Business Administration ("SBA") published a final rule that changes the lookback period for employee-based size standards from 12 months to 24 months. The final rule takes effect on July 6, 2022 and is welcome news for contractors that operate under North American Industry Classification Systems ("NAICS") codes with employee-based size standards.

Specifically, the final rule implements section 863 of the National Defense Authorization Act for Fiscal Year 2021, Public Law 116-283 ("2021 NDAA”), which amended portions of the Small Business Act to change ...